MIRA INFORM REPORT

Report No. :	317428
Report Date :	16.04.2015

IDENTIFICATION DETAILS

Name :	CEEGEE IMPEX GENERAL TRADING LLC

Registered Office :	Building No. 12A, Shop No. 2, Souk Al Kabeer Meena Bazaar, Bur Dubai 242002 Dubai

Country :	United Arab Emirates

Date of Incorporation :	05.01.2010

Com. Reg. No.:	1052725

Legal Form :	Limited Liability Company – LLC

Line of Business :	Engaged in the wholesale and retail of textiles, readymade garments and fashion accessories.

No. of Employee :	6

RATING & COMMENTS

MIRA’s Rating :

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 – December 31, 2014

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

United Arab Emirates

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. 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 and ultimately a $20 billion bailout from the UAE Central Bank and Abu Dhabi-emirate government that was refinanced in March 2014. 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

SUMMARY

Company Name : CEEGEE IMPEX GENERAL TRADING LLC

Country of Origin : Dubai, United Arab Emirates

Legal Form : Limited Liability Company - LLC

Registration Date : 5th January 2010

Commercial Registration Number : 1052725

Trade Licence Number : 633121

Chamber Membership Number : 179033

Issued Capital : UAE Dh 300,000

Paid up Capital : UAE Dh 300,000

Total Workforce : 6

Activities : Wholesale and retail of textiles, readymade garments and fashion

accessories

Financial Condition : Fair

Payments : Nothing detrimental uncovered

Operating Trend : Steady

COMPANY NAME

CEEGEE IMPEX GENERAL TRADING LLC

ADDRESS

Registered & Physical Address

Location : Building No. 12A, Shop No. 2, Souk Al Kabeer

Area : Meena Bazaar, Bur Dubai

PO Box : 242002

Town : Dubai

Country : United Arab Emirates

Telephone : (971-4) 3799363

Facsimile : (971-4) 3866401

Mobile : (971-55) 5587862

Email : mukeshaildasani1986@gmail.com

Premises

Subject operates from a small suite of offices and a showroom that are rented and located in the Central Business Area of Dubai.

KEY PRINCIPALS

Name Nationality Position

· Sunil Kamlani Indian Managing Director

· Prakash Kanhialal Hatiramani Indian Director

· Ahmed Mohamed Haji Abdullah Al Hamadi Emirati Director

LEGAL FORM & OWNERS

Date of Establishment : 5th January 2010

Legal Form : Limited Liability Company - LLC

Commercial Reg. No. : 1052725, Dubai

Trade Licence No. : 633121 (Expires 02/01/2016)

Chamber Member No. : 179033

Issued Capital : UAE Dh 300,000

Paid up Capital : UAE Dh 300,000

Name of Shareholder (s) Percentage

· Ahmed Mohamed Haji Abdullah Al Hamadi 51%

· Sunil Kamlani 25%

· Prakash Kanhialal Hatiramani 24%

OPERATIONS

Activities: Engaged in the wholesale and retail of textiles, readymade garments and fashion accessories.

Import Countries: India

Operating Trend: Steady

Subject has a workforce of 6 employees.

FINANCIAL DATA

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 8,400,000 UAE Dh 8,750,000

Local sources consider subject’s financial condition to be Fair.

The above financial figures are based on estimations by our local sources.

BANKERS

· Habib Bank AG Zurich

Baniyas Road

PO Box: 3306

Dubai

Tel: (971-4) 2214535

PAYMENT HISTORY

No complaints regarding subject’s payments have been reported.

GENERAL COMMENTS

Please note that the correct PO Box is 242002 and not 24200.

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.62.40
UK Pound	1	Rs.92.15
Euro	1	Rs.66.48

INFORMATION DETAILS

Analysis Done by :	KAR

Report Prepared by :	ANK

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.