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Report Date : |
30.10.2014 |
IDENTIFICATION DETAILS
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Name : |
TARWADA CARGO TRANSPORT BY HEAVY TRUCKS LLC |
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Registered Office : |
Saih Shuaib No 4, Dubai
Industrial City, 97793, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
07.06.2007 |
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Com. Reg. No.: |
1034606, Dubai |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Engaged in the provision of cargo transportation by truck
and water as well as the rental of handling, loading and lifting equipment.
Subject mainly transports aggregates and building materials and has a fleet
of 120 trucks. |
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No of Employees : |
150 |
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 : TARWADA CARGO TRANSPORT BY HEAVY TRUCKS LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company – LLC
Registration Date : 7th June 2007
Commercial Registration Number : 1034606, Dubai
Trade Licence Number : 596415
Chamber Membership Number : 120177
Issued Capital : UAE Dh 1,500,000
Paid up Capital : UAE Dh 1,500,000
Total Workforce : 150
Activities : Providers of cargo transportation by truck and water
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : Raj Krishna, Human Resources Manager
TARWADA CARGO
TRANSPORT BY HEAVY TRUCKS LLC
Location : Saih Shuaib No 4
Area : Dubai
Industrial City
PO Box : 97793
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 3699961
Facsimile : (971-4)
3614289
Mobile : (971-50)
3090600
Email : info@tarwada.ae
Subject operates from a large suite of offices that are rented and
located in the Industrial Area of Dubai.
Name Nationality Position
· Nawaz Al Rawi Abdul Ghafoor Iraqi Managing
Director
· Sheikha Moza Al Maktoum Emirati Director
· Natrajan Vijay - Chief Financial Officer
· Rami Asaad - Operations
Manager
· Raj Krishna - Human
Resources Manager
Date of
Establishment : 7th
June 2007
Legal Form : Limited Liability
Company – LLC
Commercial Reg.
No. : 1034606, Dubai
Trade Licence No. : 596415 (Expires 06/06/2015)
Chamber Member No. : 120177
Issued Capital : UAE Dh 1,500,000
Paid up Capital : UAE Dh 1,500,000
· Sheikha Moza Al Maktoum 51%
· Nawaz Al Rawi Abdul Ghafoor 49%
Activities: Engaged in the provision of cargo transportation by truck and water as
well as the rental of handling,
loading and lifting equipment. Subject
mainly transports aggregates and building materials and has a fleet of 120
trucks.
Subject has a workforce of 150 employees.
Companies registered in Dubai, United Arab Emirates are not legally
required to make their accounts public and no financial information was released
by the company or submitted by outside sources.
·
Commercial Bank of Dubai
Baniyas Street
Deira
PO Box: 1709
Dubai
Tel: (971-4)
2227121 / 2253222
Fax: (971-4)
2220943 / 2254565
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 |
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Euro |
1 |
Rs.78.14 |
INFORMATION DETAILS
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Analysis Done by
: |
SUM |
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|
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Report Prepared
by : |
SMN |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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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 |
|
<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.