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Report No. : |
337671 |
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Report Date : |
25.08.2015 |
IDENTIFICATION DETAILS
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Name : |
INTEGRATED RESOURCES GENERAL TRADING LLC |
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Registered Office : |
Al Etihad Building, Suite 1005, Etihad Road, PO Box 128914, Dubai |
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Country : |
United
Arab Emirates |
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Date of Incorporation : |
09.06.2011 |
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Com. Reg. No.: |
1077596 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Engaged in the import and distribution of dried fruits, cement, timber
and steel. Subject also mines for iron ore, coal and limestone. |
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No. of Employees
: |
12 |
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 of 2008,
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 economic diversification and creating more job opportunities for nationals
through improved education and increased private sector employment.
|
Source
: CIA |
Company Name :
INTEGRATED RESOURCES GENERAL TRADING LLC
Country of Origin :
Dubai, United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date :
9th June 2011
Commercial Registration Number :
1077596, Dubai
Trade Licence Number :
655049
Chamber Membership Number :
193881
Issued Capital :
UAE Dh 500,000
Paid up Capital :
UAE Dh 500,000
Total Workforce : 12
Activities :
Distributors of dried fruits, cement, timber and steel. Subject also mines
for iron ore, coal and limestone.
Financial Condition :
Undetermined
Payments :
Unknown
INTEGRATED RESOURCES GENERAL TRADING LLC
Registered &
Physical Address
Building : Al Etihad
Building, Suite 1005
Street : Etihad Road
PO Box :
128914
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2552938
/ 2956750
Facsimile : (971-4)
2552938
Mobile : (971-50)
3825868
Email : ik@integ-resources.com
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Dubai.
Branch Office (s)
Location Description
1007 White Crown Tower Office
premises
Sheikh Zayed Road
Dubai
Tel: (971-4) 3290422
Fax: (971-4) 3311229
Name Nationality Position
Irfan Mohamed Shoukat Khan Naamath Indian Managing Director
Ruman Khan Mohamed Naamath Mohamed Shoukat Naamath Khan Indian Director
Majid Mohamed Saeed Al Jarwan Emirati Director
Date of Establishment : 9th
June 2011
Legal Form : Limited Liability
Company - LLC
Commercial Reg. No. : 1077596, Dubai
Trade Licence No. : 655049 (Expires
08/06/2016)
Chamber Member No. : 193881
Issued Capital : UAE Dh 500,000
Paid up Capital : UAE Dh 500,000
Name of
Shareholder (s) Percentage
Majid Mohamed Saeed Al Jarwan 51%
Irfan Mohamed Shoukat Khan Naamath 25%
Ruman Khan Mohamed Naamath Mohamed Shoukat Naamath Khan
24%
Activities: Engaged in the import and distribution of dried fruits, cement, timber
and steel. Subject also mines for iron ore, coal and limestone.
Import Countries: Europe and the Far East
Subject has a workforce of 12 employees.
Companies registered in Dubai are not legally required to make their
accounts public and no financial information was released by the company or
submitted by outside sources.
HSBC Bank Middle East
Deira Souk Branch
PO Box: 66
Dubai
Tel: (971-4) 2535000
Unknown
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.66.51 |
|
|
1 |
Rs.104.00 |
|
Euro |
1 |
Rs.76.27 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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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.