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Report No. : |
356582 |
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Report Date : |
24.12.2015 |
IDENTIFICATION DETAILS
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Name : |
BAGHER RASTI
GENERAL TRADING CO LLC |
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Registered Office : |
Ghaffari Building, Al Suq Al Kabeer Street, Al Bateen, Al Ras, Deira, P O Box: 401, 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 : |
09.10.1995 |
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Com. Reg. No.: |
45594, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Import and
distribution of general foodstuffs, including rice and general merchandise. |
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No. of Employees : |
47 |
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 |
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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 : BAGHER RASTI
GENERAL TRADING CO LLC
Country of Origin : Dubai,
United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date : 9th
October 1995
Commercial
Registration Number : 45594
Trade Licence
Number : 239271
Chamber Membership Number : 35576
Issued Capital : UAE Dh
300,000
Paid up Capital : UAE Dh
300,000
Total Workforce :
47
Activities :
Distributors of general foodstuffs and general merchandise
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Sandeep
Vishmrami, Accounts Manager
BAGHER RASTI
GENERAL TRADING CO LLC
Building : Ghaffari Building
Street : Al Suq Al Kabeer Street
Area : Al Bateen, Al Ras, Deira
PO Box : 401
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2350088 / 2263694 / 2350099
Facsimile : (971-4) 2351250 / 2264437
Email : bagher@emirates.net.ae
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Dubai.
Branch Office
(s)
Location Description
·
Iranian
Old Market Office
premises
Dubai
Tel: (971-4) 2263694
Name Nationality Position
·
Humaid
Baqer Rasti Lari Iranian Director
·
Abdul
Rasool Darwish Ali Darwishi Iranian Director
·
Mohamed
Ali Mohamed Sadiq Rasti Lari Iranian Director
·
Adnan
Abdul Rahim Mohamed Ketait Emirati Director
·
Sandeep
Vishmrami - Accounts
Manager
Date of Establishment : 9th
October 1995
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 45594, Dubai
Trade Licence No. : 239271
Membership No. : 35576
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
·
Humaid
Baqer Rasti Lari
·
Abdul
Rasool Darwish Ali Darwishi
·
Mohamed
Ali Mohamed Sadiq Rasti Lari
·
Adnan
Abdul Rahim Mohamed Ketait
Activities: Engaged
in the import and distribution of general foodstuffs, including rice and
general merchandise.
Import
Countries: Europe. India,
Pakistan and China
International
Suppliers:
·
Luminar France
·
Punjab
Basmati Rice Mill Ltd India
·
Ittifaq
Rice Mill Pakistan
·
Nizar
Rice Mill Pakistan
·
Juang
Ding Liquang China
Operating Trend: Steady
Subject has a
workforce of 47 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 63,000,000 UAE Dh 64,870,000
Local sources
consider subject’s financial condition to be Fair.
The above figures were provided by Mr Sandeep Vishmrami, Accounts
Manager
·
Standard
Chartered Bank
Khalid Bin Waleed Street
PO Box: 999
Dubai
Tel: (971-4) 2520455
·
Bank
Melli Iran
Deira Branch
PO Box: 1894
Dubai
Tel: (971-4) 2268207
Fax: (971-4) 2269157 / 2267096
No complaints regarding
subject’s payments have been reported.
According to local
sources, subject enjoys a good reputation for the quality of its products with
nothing detrimental uncovered regarding the manner in which operations are
conducted. As such the company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.20 |
|
|
1 |
Rs.98.30 |
|
Euro |
1 |
Rs.72.41 |
|
UAE Dh |
1 |
Rs.17.97 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
AMR |
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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.