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Report Date : |
26.09.2014 |
IDENTIFICATION DETAILS
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Name : |
DEVENDRA TRADING CO LLC |
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Registered Office : |
Ahmed Abdullah Almoosa Building, 2nd Floor, Office No. 202-203, Khalid Ibn Al Waleed Street, Al Riffa, Deira, PO Box: 29287, Dubai |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
03.08.1996 |
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Com. Reg. No.: |
47271, |
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Legal Form : |
Limited Liability Company – LLC |
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LINE OF BUSINESS : |
DISTRIBUTORS
OF GENERAL FOODSTUFFS AND AFRICAN TEXTILES. |
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No. of Employees : |
6 |
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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Report Date : 26.09.2014 IDENTIFICATION DETAILS Name : DEVENDRA TRADING CO LLC Registered Office : Ahmed Abdullah Almoosa Building, 2nd Floor, Office No. 202-203, Khalid
Ibn Al Waleed Street, Al Riffa, Deira, PO Box: 29287, Dubai Country : Financials (as on) : 31.12.2013 Date of Incorporation : 03.08.1996 Com. Reg. No.: 47271, Legal Form : Limited Liability Company – LLC LINE OF BUSINESS : DISTRIBUTORS
OF GENERAL FOODSTUFFS AND AFRICAN TEXTILES. No. of Employees : 6 RATING & COMMENTS MIRA’s Rating : Ba RATING STATUS PROPOSED CREDIT LINE 41-55 Ba Overall operation is considered normal. Capable to meet normal
commitments. Satisfactory Status : Satisfactory Payment Behaviour : No complaints 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) 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 Source
: CIA Company Name : DEVENDRA TRADING CO LLC Country of Origin :
Legal Form :
Limited Liability Company - LLC Registration Date :
3rd August 1996 Commercial Registration Number :
47271, Trade Licence Number :
242773 Chamber Membership Number :
39628 Issued Capital :
UAE Dh 300,000 Paid up Capital :
UAE Dh 300,000 Total Workforce :
6 Activities :
Distributors of general foodstuffs and African textiles. Financial Condition :
Fair Payments :
Nothing detrimental uncovered Operating Trend : Steady Person Interviewed : Ramesh Gulabani
Visumal, Director DEVENDRA TRADING CO LLC Registered &
Physical Address Building : Street : Area : Al Riffa,
Deira PO Box : 29287 Town : Country : Telephone : (971-4) 3939397 Facsimile : (971-4)
3934376 / 3932800 Email : devendra@emirates.net.ae Premises Subject operates from a small suite of offices and a showroom that are
rented and located in the Central Business Area of Dubai. Name Nationality Position Devendra Kumar Gulabani Indian Managing
Director Ramesh Gulabani Visumal Indian Director Ali Mohamed Mohamed Yahya Zakaria Al Yahya Emirati Director Pavan Kakuraja
- Finance
Manager Vikas Ramchandani
- Sales Manager Bhawan Kurja
- Accountant Date of Establishment : 3rd
August 1996 Legal Form : Limited Liability
Company - LLC Commercial Reg. No. : 47271, Trade Licence No. : 242773 (Expires 02/08/2015) Chamber Member No. : 39628 Issued Capital : UAE Dh 300,000 Paid up Capital : UAE Dh 300,000 Name of
Shareholder (s) Percentage Ali Mohamed Mohamed Yahya Zakaria Al Yahya 51% Devendra Kumar Gulabani 25% Ramesh Gulabani Visumal 24% R G Trading LLC Activities: Engaged in the import and distribution of general foodstuffs and
African textiles. Import Countries: Europe, International
Suppliers: Sagar Enterprises Royal Export J Shree Export NGO Oil Supply Nikita Enterprises Operating Trend: Steady Subject has a workforce of 6 employees. Financial highlights provided by local sources are given below: Currency: Year Ending 31/12/12: Year Ending 31/12/13: Total Sales UAE
Dh 20,000,000 UAE Dh
25,000,000 Local sources consider subject’s financial condition to be Fair. The above figures were provided by Mr Ramesh Gulabani Visumal, Director Bank of Bur PO Box: 3162 Tel: (971-4) 3166666 Fax: (971-4) 5536962 Acc No. 90010400000214 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 Indian Rupees US Dollar 1 Rs.61.03 1 Rs.99.43 Euro 1 Rs.77.84 INFORMATION DETAILS Analysis Done by
: SUM Report Prepared
by : SDA 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 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. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||