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Report No. : |
355608 |
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Report Date : |
23.12.2015 |
IDENTIFICATION DETAILS
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Name : |
TRIUMPH EXPOLINK GENERAL TRADING LLC |
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Registered Office : |
Burjuman Business Tower, Bur Dubai, 115861, 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 : |
05.02.2001 |
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Legal Form : |
Limited
Liability Company – LLC |
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Line of Business : |
Subject engaged in the import and distribution of plastic
materials and products. |
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No. of Employee : |
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 : |
Small Company |
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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 :
TRIUMPH EXPOLINK GENERAL TRADING LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company – LLC
Registration Date : 5th February 2001
Commercial Registration Number : 55984, Dubai
Trade Licence Number : 524091
Chamber Membership Number : 62176
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 12
Activities : Distributors of plastic materials and products
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
TRIUMPH EXPOLINK
GENERAL TRADING LLC
Building : Burjuman
Business Tower
Area :
Bur Dubai
PO Box :
115861
Town :
Dubai
Country : United Arab
Emirates
Telephone :
(971-4) 3516177
Facsimile :
(971-4) 3516178 / 2275992
Mobile : (971-50)
8721166
Email : ajay@triumphexpolink.com
Please note that the correct PO Box number is 115861 and not
11561.
Subject operates from a small suite of offices that are
rented and located in the Central Business Area of Dubai.
Name Nationality Position
· Ajay
Kumar Eranezhatu Gangadharan Indian Managing Director
· Jibu
Paul Theethaye Indian Director
· Jassim
Mohamed Abdul Rahman Mohamed Emirati Director
Date
of Establishment : 5th
February 2001
Legal
Form : Limited
Liability Company – LLC
Commercial
Reg. No. :
55984, Dubai
Trade
Licence No. :
524091
Chamber
Member No. : 62176
Issued Capital : UAE
Dh 300,000
Paid up Capital :
UAE Dh 300,000
· Jassim
Mohamed Abdul Rahman Mohamed 51%
· Ajay
Kumar Eranezhatu Gangadharan 40%
· Jibu
Paul Theethaye 9%
Activities: Engaged in the import and distribution
of plastic materials and products.
Import Countries: Europe and GCC countries.
Operating Trend: Steady
Subject has a workforce of 12 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 9,420,000 UAE Dh
9,875,000
Local sources consider subject’s financial condition to be
Fair.
The above financial figures are based on estimations by our
local sources.
·
Emirates National Bank of Dubai
Baniyas
Street
PO
Box: 777
Dubai
Tel:
(971-4) 2222555
Fax:
(971-4) 2221110
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.66.30 |
|
|
1 |
Rs.98.71 |
|
Euro |
1 |
Rs.72.33 |
|
DH |
1 |
Rs.18.03 |
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 : |
TRU |
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 |
|
-- |
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.