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Report Date : |
08.10.2014 |
IDENTIFICATION DETAILS
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Name : |
ROOP INTERNATIONAL GENERAL TRADING LLC |
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Registered Office : |
Jassim Bin Ali
Building, Office No. 101, Furaij
Murar Street, Al Ras, Deira, P O Box: 118873 & 35549, Dubai |
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Country : |
United Arab Emirates |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
06.09.2011 |
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Com. Reg. No.: |
1081618, Dubai |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Import and
Distribution of General Foodstuffs, Specialising in Rice. |
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No. of Employees : |
5 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES:
Any query related to this report can be made on
e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
United Arab Emirates |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
UNITED ARAB
EMIRATES - ECONOMIC OVERVIEW
The UAE has an open economy
with a high per capita income and a sizable annual trade surplus. Successful
efforts at economic diversification have reduced the portion of GDP based on
oil and gas output to 25%. Since the discovery of oil in the UAE more than 30
years ago, the country has undergone a profound transformation from an
impoverished region of small desert principalities to a modern state with a
high standard of living. The government has increased spending on job creation
and infrastructure expansion and is opening up utilities to greater private
sector involvement. In April 2004, the UAE signed a Trade and Investment
Framework Agreement with Washington and in November 2004 agreed to undertake
negotiations toward a Free Trade Agreement with the US; however, those talks
have not moved forward. The country's Free Trade Zones - offering 100% foreign
ownership and zero taxes - are helping to attract foreign investors. The global
financial crisis, tight international credit, and deflated asset prices constricted
the economy in 2009. UAE authorities tried to blunt the crisis by increasing
spending and boosting liquidity in the banking sector. The crisis hit Dubai
hardest, as it was heavily exposed to depressed real estate prices. Dubai
lacked sufficient cash to meet its debt obligations, prompting global concern
about its solvency. The UAE Central Bank and Abu Dhabi-based banks bought the
largest shares. In December 2009 Dubai received an additional $10 billion loan
from the emirate of Abu Dhabi. Dependence on oil, a large expatriate workforce,
and growing inflation pressures are significant long-term challenges. The UAE's
strategic plan for the next few years focuses on diversification and creating
more opportunities for nationals through improved education and increased
private sector employment.
|
Source
: CIA |
Company Name : ROOP
INTERNATIONAL GENERAL TRADING LLC
Country of Origin : Dubai,
United Arab Emirates
Legal Form :
Limited Liability Company – LLC
Registration Date : 6th
September 2011
Commercial
Registration Number : 1081618,
Dubai
Trade Licence
Number : 658467
Chamber Membership
Number : 196384
Issued Capital : UAE Dh
300,000
Paid up Capital : UAE Dh
300,000
Total Workforce : 5
Activities :
Distributors of general foodstuffs.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
ROOP INTERNATIONAL
GENERAL TRADING LLC
Building : Jassim Bin Ali
Building, Office No. 101
Street : Furaij Murar Street
Area : Al Ras, Deira
PO Box : 118873 & 35549
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2718077
Facsimile : (971-4) 2718144
Mobile : (971-50) 4573345
Email : roopgeneraltrading@gmail.com / info@fscdubai.com
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Dubai.
Name Nationality Position
·
Tareq
Obaid Mubarak Ahmed Abdullah Almkrany Emirati Managing Director
·
Govenda
Kumar Wshnomal Pakistani Director
·
Manoj
Kumar Pakistani Director
·
Sanjesh
Kumar Wshnomal Pakistani Director
·
Teka
Mal Roopan Mal Pakistani Director
·
Haresh
Kumar Pakistani Director
·
Makesh
Kumar Pakistani Director
·
Chandraj
Singh - Sales
Manager
·
Abdul
Salam Hassan - Purchasing
Manager
Date of Establishment : 6th
September 2011
Legal Form :
Limited Liability Company –
LLC
Commercial Reg. No. : 1081618,
Dubai
Trade Licence No. : 658467
(Expires 05/09/2015)
Chamber Member No. : 196384
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
·
Tareq
Obaid Mubarak Ahmed Abdullah Almkrany 51%
·
Govenda
Kumar Wshnomal 10%
·
Manoj
Kumar 10%
·
Sanjesh
Kumar Wshnomal 10%
·
Teka
Mal Roopan Mal 10%
·
Haresh
Kumar 5%
·
Makesh
Kumar 4%
·
The
Famous Shipping & Clearing Co
Dubai
Activities: Engaged in the import and distribution of
general foodstuffs, specialising in rice.
Import
Countries: Pakistan
Local Suppliers:
·
Bala
General Trading Co Dubai
Subject has a
workforce of 5 employees.
Financial
highlights provided by local sources are given below:
Currency: United
Arab Emirates Dirham (UAE Dh)
Year Ending 31/12/12: Year Ending 31/12/13:
Total Sales UAE Dh 6,210,000 UAE Dh 7,350,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
HSBC
Bank Middle East
Deira Souk Branch
PO Box: 66
Dubai
Tel: (971-4) 2535000
No complaints
regarding subject’s payments have been reported.
During the course
of this investigation nothing detrimental was uncovered regarding subject’s
operating history or the manner in which payments are fulfilled. As such the
company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.36 |
|
|
1 |
Rs.98.71 |
|
Euro |
1 |
Rs.77.47 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
|
-- |
NB |
New Business |
-- |
|
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major sections
of this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.