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Report No. : |
316490 |
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Report Date : |
09.04.2015 |
IDENTIFICATION DETAILS
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Name : |
MUSHARBEK TRADING
COMPANY LLC |
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Registered Office : |
Shop No. 10,
Shahab Ahmed Sultan Abdul Karim Al Mur, Deira, Dubai |
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Country : |
United Arab Emirates |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
27.12.2008 |
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Com. Reg. No.: |
1069278, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Import and Distribution of Stationery, Papers, Plastic Materials,
Flexible Packing Materials, Printing and PVC Sheets. |
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No. of Employees : |
8 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
United Arab Emirates |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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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 : MUSHARBEK
TRADING COMPANY LLC
Country of Origin : Dubai,
United Arab Emirates
Legal Form : Limited
Liability Company - LLC
Registration Date : 27th
December 2008
Commercial
Registration Number : 1069278,
Dubai
Trade Licence
Number : 648133
Chamber Membership
Number : 189043
Issued Capital : UAE Dh
300,000
Paid up Capital : UAE Dh
300,000
Total Workforce : 8
Activities :
Distributors of stationery, papers, plastic materials, flexible packing
materials, printing and PVC sheets
Financial Condition : Fair
Payments : Nothing
detrimental uncovered
Operating Trend : Steady
Person Interviewed : Mansoor Abdul
Hussain Ezzi, Managing Director
MUSHARBEK TRADING
COMPANY LLC
Location : Shop No. 10, Shahab Ahmed Sultan Abdul
Karim Al Mur, Deira
Town : Dubai
Country : United Arab Emirates
Building : Office No. 303, 3rd Floor, Mohamed
Badri Building
Street : Al Souq Street
Area : Naif, Deira
Town : Dubai
Country : United Arab Emirates
Mobile : (971-55) 6580657 / (971-52)
8453310
Email : mansoor.ezzi@ezzi-group.com
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
·
Mansoor
Abdul Hussain Ezzi Indian Managing
Director
·
Quraish
Abdul Hussain Ezzi Indian Director
·
Khalifa
Ali Mohamed Khalil Musharbek Emirati Director
Date of Establishment : 27th
December 2008
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 1069278,
Dubai
Trade Licence No. : 648133
Chamber Member No. : 189043
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
·
Khalifa
Ali Mohamed Khalil Musharbek 51%
·
Mansoor
Abdul Hussain Ezzi ]
] 49%
·
Quraish
Abdul Hussain Ezzi ]
·
Al
Hussein International Co
Cairo
Egypt
Tel: (20-2) 38320371
Mob: (20-122) 2104438
·
Al
Burhan Manufacturing & Trading Co
Industrial Area – 1, Plot No. 8/9
12566 6th October City
Giza
Egypt
·
Modern
Paper Industry (MPI)
India
·
Al Ezzi
Yemen (HARaaZ Coffee)
Yemen
Activities: Engaged
in the import and distribution of stationery, papers, plastic materials,
flexible packing materials, printing and PVC sheets.
Import
Countries: United States of
America, Spain and Italy.
International
Suppliers:
·
Burgo
Group Italy
·
International
Paper United States of America
·
Smurfit
Kappa Spain
Operating Trend: Steady
Subject has a
workforce of 8 employees.
Financial
highlights provided by local sources are given below:
Currency: United
Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/13: Year Ending
31/12/14:
Total Sales UAE Dh
78,200,000 UAE Dh
80,000,000
Local sources
consider subject’s financial condition to be Fair.
The above figures were provided by Mr Mansoor Abdul Hussain Ezzi,
Managing Director
·
Mashreq
Bank Plc
Deira Branch
PO Box: 1250
Tel: (971-4) 2229131 / 2221134
No complaints
regarding subject’s payments have been reported.
Local sources
report that the subject’s operating history is clear with payment obligations
met in a generally timely manner. The financial position is satisfactory and
the company is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.33 |
|
|
1 |
Rs.92.53 |
|
Euro |
1 |
Rs.67.60 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
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Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
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 |
|
|
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 |
|
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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.