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Report No. : |
338062 |
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Report Date : |
27.08.2015 |
IDENTIFICATION DETAILS
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Name : |
TARRAB TRADING CO
LLC |
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Registered Office : |
Rashid Bin Dari Warehouse,
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Country : |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
10.12.2003 |
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Com. Reg. No.: |
65132, |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Import, Distribution and Installation of Furniture, Fixtures and
Equipment for Hotels, Restaurants, Mosques and Villas. |
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No. of Employees : |
14 |
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 |
|
Risk Category |
ECGC
Classification |
|
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 : TARRAB TRADING CO LLC
Country of Origin : Dubai,
United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date : 10th
December 2003
Commercial
Registration Number : 65132,
Dubai
Trade Licence
Number : 551422
Chamber Membership
Number : 82791
Issued Capital : UAE Dh
300,000
Paid up Capital : UAE Dh
300,000
Total Workforce : 14
Activities :
Distribution and installation of furniture, fixtures and equipment.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
TARRAB TRADING CO
LLC
Building : Rashid Bin Dari Warehouse
Street : Sheikh Zayed Road
Area : Al Quoz Industrial Area
PO Box : 36693
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3388533
Facsimile : (971-4) 3388535
Mobile : (971-50) 6366340
Email : info@tarrab.net
Subject operates from
a small suite of offices and a warehouse that are rented and located in the
Industrial Area of Dubai.
Branch Office
(s)
Location Description
·
Dubai
Mall Retail
premises
·
Souk Al
Bahar Retail
premises
·
Madinat
Jumeirah Souk Retail
premises
·
Abu
Dhabi Mall Retail
premises
Name Nationality Position
·
Hussain
Mohamed Walid Tarrab Syrian Managing Director
·
Ibrahim
Abdullah Al Sayed Ahmad Al Hashimi Emirati Director
Date of Establishment : 10th
December 2003
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 65132, Dubai
Trade Licence No. : 551422
(Expires 09/12/2015)
Chamber Member No. : 82791
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
·
Ibrahim
Abdullah Al Sayed Ahmad Al Hashimi 51%
·
Hussain
Mohamed Walid Tarrab 49%
Activities: Engaged
in the import, distribution and installation of furniture, fixtures and equipment
for hotels,
restaurants, mosques and villas.
Import
Countries: Europe and the
Far East
Operating Trend: Steady
Subject has a
workforce of 14 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 12,310,000 UAE Dh 12,800,000
Local sources
consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
PO Box: 1080
Tel: (971-4) 2953000
Fax: (971-4) 2954111
No complaints
regarding subject’s payments have been reported.
Please note that
the correct name of the subject is “Tarrab Trading Co LLC” and not “Hussain
Tarrab Trading Co LLC”.
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.66.16 |
|
|
1 |
Rs.103.88 |
|
Euro |
1 |
Rs.75.89 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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|
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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 |
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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.