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Report No. : |
354715 |
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Report Date : |
14.12.2015 |
IDENTIFICATION DETAILS
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Name : |
LUNAR GENERAL TRADING LLC |
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Registered Office : |
Office P-02, Bay Square 2, Business Bay, PO Box : 29567, 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 : |
22.07.2000 |
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Com. Reg. No.: |
64091, 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 electronic goods such
as mobile phones, car batteries, automotive spare parts, household
appliances, raw materials, building materials, tools, flooring,
sanitary-ware, and faucets. |
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No. of Employee : |
16 |
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) |
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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.
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Source
: CIA |
Company Name :
LUNAR GENERAL TRADING LLC
Country of Origin :
Dubai, United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date :
22nd July 2000
Commercial Registration Number :
64091, Dubai
Trade Licence Number :
520068
Chamber Membership Number :
59619
Issued Capital :
UAE Dh 300,000
Paid up Capital :
UAE Dh 300,000
Total Workforce :
16
Activities :
Distributors of electronic goods
Financial Condition :
Fair
Payments :
No Complaints
Operating Trend :
Steady
Person Interviewed :
Siraj Bhimani, Import & Export Executive
LUNAR GENERAL TRADING
LLC
Building : Office P-02,
Bay Square 2
Area : Business Bay
PO Box : 29567
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 3935882
/ 3936696 / 3939983 / 3930019
Facsimile : (971-4) 3935774
/ 3939984 / 3935051
Email : kalpit@lunartrading.com / inquiries@lunartrading.com
Please note that subject’s previous address was, Mohamed Al Awar Building,
Office No. 1, Khalid Bin Waleed Street, Al Souq Al Kabir, Bur Dubai, Dubai.
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Dubai.
Name Nationality Position
· Shaid Ramazan Ali
Jemani Indian Managing
Director
· Mohamed Murad
Sulaiman Mohamed Emirati Director
· Saji Esow - Accountant
· Paytosh Patel - Sales
Executive
· Siraj Bhimani - Import
& Export Executive
Date of
Establishment : 22nd
July 2000
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 64091, Dubai
Trade Licence No. : 520068
Chamber Member No. : 59619
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
· Mohamed Murad
Sulaiman Mohamed 51%
· Shaid Ramazan Ali
Jemani 49%
Activities: Engaged in the import and distribution of electronic goods such as
mobile phones, car batteries,
automotive spare parts, household appliances, raw materials, building
materials, tools, flooring, sanitary-ware, and faucets.
Import Countries: India and China.
International Suppliers:
· Bishan Steel India
· Jindal Steel India
· Wanli Tyres China
· Zhejiang Jugian
Power Supply Mfg Ltd China
Operating Trend: Steady
Subject has a workforce of 16 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 30,175,000 UAE Dh
32,300,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Siraj Bhimani, Import & Export
Executive
·
Emirates National Bank of Dubai
Baniyas Street
PO Box:
777
Dubai
Tel:
(971-4) 2222241
No complaints regarding subject’s payments have been reported.
Please note that the correct name of the subject is “Lunar General
Trading LLC” and not “Lunar General Trading Group”.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.66.99 |
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|
1 |
Rs.101.78 |
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Euro |
1 |
Rs.73.47 |
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UAE DH |
1 |
Rs. 18.29 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
ASH |
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 |
-- |
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.