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Report No. : |
336074 |
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Report Date : |
10.08.2015 |
IDENTIFICATION DETAILS
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Name : |
TEKNODOME TRADING
LLC |
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Registered Office : |
Deira, PO Box No.: 29475, 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 : |
20.11.2008 |
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Com. Reg. No.: |
1038190, Dubai |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Subject is
engaged in the import and distribution of household electrical appliances,
mobile phones, photographic and air conditioning equipment |
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No. of Employees : |
7 |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
United Arab
Emirates |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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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. 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 |
Company Name : TEKNODOME
TRADING LLC
Country of Origin : Dubai,
United Arab Emirates
Legal Form :
Limited Liability Company – LLC
Registration Date : 20th
November 2008
Commercial
Registration Number : 1038190,
Dubai
Trade Licence
Number : 619482
Chamber Membership
Number : 159988
Issued Capital : UAE Dh
300,000
Paid up Capital : UAE Dh
300,000
Total Workforce :
7
Activities :
Distributors of household electrical appliances, mobile phones,
photographic and air
conditioning equipment
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
TEKNODOME TRADING LLC
Location : Deira
PO Box : 29475
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2289955
Facsimile : (971-4) 2289966
Mobile : (971-50) 3529064
Email : tdllc@eim.ae
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
·
Ekta
Srivastava Indian Managing
Director
·
Skit
Ghourav Shio Schinker Indian Director
·
Bassem
Mohamed Abdulla Rashid Emirati Director
Date of Establishment : 20th
November 2008
Legal Form :
Limited Liability Company –
LLC
Commercial Reg. No. : 1038190,
Dubai
Trade Licence No. : 619482
Chamber Member No. : 159988
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
·
Bassem
Mohamed Abdulla Rashid 51%
·
Ekta
Srivastava 25%
·
Skit
Ghourav Shio Schinker 24%
Activities: Engaged
in the import and distribution of household electrical appliances, mobile
phones,
photographic and air conditioning equipment.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 7 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 10,125,000 UAE Dh 10,600,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Bank of
Baroda
PO Box: 3162
Dubai
Tel: (971-4) 5531955
Fax: (971-4) 5536962
No complaints regarding
subject’s payments have been reported.
Please note that
the correct name of the subject is “Teknodome Trading LLC” and not “Tecknodom
Trading LLC”.
Local sources
report that payment obligations are met in a generally timely manner and the
operating history is clear. As such the company is deemed a fair trade risk and
the above credit figure is considered to be within subject’s financial means.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.81 |
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UK Pound |
1 |
Rs.98.93 |
|
Euro |
1 |
Rs.69.66 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
VNT |
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 |
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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.