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Report Date : |
30.10.2014 |
IDENTIFICATION DETAILS
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Name : |
GAUTAM GENERAL TRADING LLC |
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Registered Office : |
Shop No. 6/7, Fatima Salim Building, Old Municipality Street, Al Ras Area, PO Box 33262 & 120740, 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 : |
15.08.2005 |
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Com. Reg. No.: |
75767, Dubai |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Distributors of fresh and frozen foodstuffs. |
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No. of Employees : |
90 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 :
GAUTAM GENERAL TRADING LLC
Country of Origin :
Dubai, United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date :
15th August 2005
Commercial Registration Number :
75767, Dubai
Trade Licence Number :
572403
Chamber Membership Number :
100240
Issued Capital :
UAE Dh 300,000
Paid up Capital :
UAE Dh 300,000
Total Workforce :
90
Activities :
Distributors of fresh and frozen foodstuffs.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Harjeet Singh, Finance Manager
GAUTAM GENERAL TRADING LLC
Registered &
Physical Address
Building : Shop No. 6/7, Fatima Salim Building
Street :
Old Municipality Street
Area : Al Ras Area
PO Box : 33262 &
120740
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 2353427
/ 2353428 / 2353429
Facsimile : (971-4)
2353851
Mobile : (971-50)
5586100 / 7861365
Email : ggtgroup@eim.ae
/ info@gautamgroup.com
Please note subject’s previous address was: Mohamed Majid Alghurair
Building, Al Ras, Deira, Dubai.
Premises
Subject operates from a medium sized suite of offices and a showroom
that are rented and located in the Central Business Area of Dubai.
Name Nationality Position
Shumant Agrawal Mahesh Kumar Indian Managing Director
Sanjiv Agrawal Hari Ram Indian Director
Gautam Agrawal Sanjiv Agrawal Indian Director
Abdullah Ahmed Abdullah Hassan Al Najjar Emirati Director
Sunil Kara - Sales
Manager
Harjeet Singh - Finance
Manager
Othman Mohamed
- Purchasing
Officer
Date of Establishment : 15th
August 2005
Legal Form : Limited Liability
Company - LLC
Commercial Reg. No. : 75767, Dubai
Trade Licence No. : 572403
Chamber Member No. : 100240
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of
Shareholder (s) Percentage
Abdullah Ahmed Abdullah Hassan Al Najjar 51%
Shumant Agrawal Mahesh Kumar ]
]
Sanjiv Agrawal Hari Ram ] 49%
]
Gautam Agrawal Sanjiv Agrawal ]
Gautam Foodstuff Packaging LLC
Dubai Investment Park
Dubai
Tel: (971-4) 8868616
Fax: (971-4) 8868618
Gautam Foodstuff Trading LLC
Dubai
Activities: Engaged in the
import and distribution of fresh and frozen foodstuffs.
Import Countries: Europe
and the Far East.
Operating Trend: Steady
Subject has a workforce of 90 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 85,000,000 UAE Dh
88,000,000
Local sources consider subject’s financial condition to be Good.
The above financial figures are based on estimations by our local
sources.
Habib Bank AG Zurich
Baniyas Road
PO Box 3306
Dubai
Tel: (971-4) 2214535
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.61.32 |
|
|
1 |
Rs.99.00 |
|
Euro |
1 |
Rs.78.14 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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|
|
|
Report Prepared
by : |
SDA |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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>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 |
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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 |
|
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41-55 |
Ba |
Overall
operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
-- |
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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.