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Report No. : |
353395 |
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Report Date : |
03.12.2015 |
IDENTIFICATION DETAILS
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Name : |
KOHINOOR INTERNATIONAL GENERAL TRADING LLC |
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Registered Office : |
Rigga Business Centre, Office No. 4002, Rigga Street, Deira, PO Box
185579, 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 : |
24.08.2008 |
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Com. Reg. No.: |
1034033 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Engaged in the import and distribution of general foodstuffs,
including nuts, rice, cocoa, flour, seeds and coffee. |
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No. of Employees : |
10 |
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, 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 :
KOHINOOR INTERNATIONAL GENERAL TRADING LLC
Country of Origin :
Dubai, United Arab Emirates
Legal Form :
Limited Liability Company – LLC
Registration Date :
24th August 2008
Commercial Registration Number :
1034033, Dubai
Trade Licence Number :
615528
Chamber Membership Number :
150094
Issued Capital :
UAE Dh 300,000
Paid up Capital :
UAE Dh 30,0000
Total Workforce :
10
Activities :
Distributors of general foodstuffs.
Financial Condition :
Good
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Amir Shuja, Accountant
KOHINOOR INTERNATIONAL GENERAL TRADING LLC
Registered &
Physical Address
Building :
Rigga Business Centre, Office No. 4002
Street : Rigga Street
Area : Deira
PO Box : 185579
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2517789
Facsimile : (971-4)
2284543 / 2529118
Mobile : (971-50)
5979676
Email : info@kohinoorinc.com
/ chaamir@kohinoorinc.com
/ amir.shujaa@kohinoorinc.com
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Dubai.
Name Nationality Position
Faheem Asad American Managing
Director
Irfan Ahmed Mohamed Hanif Pakistani Director
Saleh Abdulla Saleh Al Qasimi Emirati Director
Amir Chanaullah - General
Manager
Amir Shuja - Accountant
Date of Establishment : 24th
August 2008
Legal Form : Limited Liability
Company – LLC
Commercial Reg. No. : 1034033, Dubai
Trade Licence No. : 615528 (Expires
28/08/2015)
Chamber Member No. : 150094
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of
Shareholder (s) Percentage
Saleh Abdulla Saleh Al Qasimi 51%
Faheem Asad 34%
Irfan Ahmed Mohamed Hanif 15%
Kohinoor (Vietnam) Co Ltd
Room No. 301
E-Tunnel Building
L11-L12 Mieu Noi Street
Binh Thanh Dist
Ho Chi Minh City
Vietnam
Tel: (84-83) 5173102
Fax: (84-83) 5173302
Activities: Engaged in the import and distribution of general foodstuffs, including
nuts, rice, cocoa, flour, seeds and coffee.
Import Countries: Europe and the Far East.
Clients:
Olam International Singapore
Swiss Singapore Overseas Enterprises Pvt Ltd Singapore
Pargan Singapore Pvt Ltd Singapore
Hakan Agro DMCC Dubai
Apollo International FZE Dubai
Ecom Agro Industrial Pvt Ltd Singapore
Raj Kumar Impex India
Makam International Pvt Ltd India
Operating Trend: Steady
Subject has a workforce of 10 employees.
Financial highlights provided by local sources are given below:
Currency: United States Dollars (US$)
Year
Ending 31/12/13: Year Ending
31/12/14:
Total Sales US$
26,200,000 US$ 30,000,000
Local sources consider subject’s financial condition to be Good.
The above figures were provided by Mr Amir Shuja, Accountant
Standard Chartered Bank
PO Box: 241
Dubai
Tel: (971-4) 2520455
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.66.62 |
|
|
1 |
Rs.100.34 |
|
Euro |
1 |
Rs.70.67 |
|
UAE Dirham |
1 |
Rs.18.17 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
TRI |
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Report Prepared
by : |
TPT |
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.