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Report No. : |
336374 |
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Report Date : |
14.08.2015 |
IDENTIFICATION DETAILS
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Name : |
HUSSAIN & LUCKY GENERAL TRADING LLC |
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Registered Office : |
Office No. 501, Al Owais Business Tower, Baniyas Road, Deira, PO Box :
241901, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
09.04.2009 |
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Com. Reg. No.: |
1042898, Dubai |
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Legal Form : |
Limited
Liability Company - LLC |
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Line of Business : |
Subject operates with a general trade licence and is engaged in the
import and distribution of stainless steel utensils, bath ware, rice,
foodstuffs and readymade garments. |
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No. of Employee : |
8 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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 :
HUSSAIN & LUCKY GENERAL TRADING LLC
Country of Origin :
Dubai, United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date :
9th April 2009
Commercial Registration Number :
1042898, Dubai
Trade Licence Number :
623771
Chamber Membership Number :
173114
Issued Capital :
UAE Dh 300,000
Paid up Capital :
UAE Dh 300,000
Total Workforce :
8
Activities :
Subject operates with a general trade licence
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed :
Harish Kumar, Commercial Manager
HUSSAIN & LUCKY GENERAL TRADING LLC
Building : Office No. 501, Al Owais Business Tower
Street :
Baniyas Road
Area : Deira
PO Box : 241901
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 2269160
/ 2356465
Facsimile : (971-4)
2267768
Mobile : (971-50)
1209637 / 3846200 / (971-55) 3132032 / 5797381
Email : info@hussainlucky.com
Please note that subject’s previous address was, Office No. 2, 1st
Floor, Above Gem Plaza, Gold
Souq, Deira, Dubai.
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Dubai.
Name Nationality Position
· Mrs Seema Jain
Indian Managing
Director
· Mrs Aliya Abbas Ali Abdullah Al Khaja Emirati Director
· Sanjay Jain - General
Manager
· Harish Kumar - Commercial
Manager
Date of
Establishment : 9th
April 2009
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 1042898, Dubai
Trade Licence No. : 623771
Chamber Member No. : 173114
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
· Mrs Aliya Abbas Ali Abdullah Al Khaja 51%
· Mrs Seema Jain 49%
Activities: Subject operates with a general trade licence and is engaged in the
import and distribution of stainless
steel utensils, bath ware, rice, foodstuffs and readymade garments.
Import Countries: Europe and the
Far East.
Subject has a workforce of 8 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.
·
Mashreq Bank Plc
Deira Branch
PO Box: 1250
Dubai
Tel: (971-4)
2229131 / 2221134
Fax: (971-4)
2233784
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.64.92 |
|
|
1 |
Rs.101.44 |
|
Euro |
1 |
Rs.72.26 |
INFORMATION DETAILS
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Analysis Done by
: |
KAS |
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Report Prepared
by : |
NIT |
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 |
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-- |
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.