MIRA INFORM REPORT

Report No. :	355730
Report Date :	24.12.2015

IDENTIFICATION DETAILS

Name :	BRAVIA INTERNATIONAL GENERAL TRADING LLC
Registered Office :	Alaqeeli Real Estate Building Al Daghaya, P O Box: 83086, Dubai
Country :	United Arab Emirates
Financials (as on) :	31.12.2014
Date of Incorporation :	30.01.2006
Com. Reg. No.:	78458, Dubai
Legal Form :	Limited Liability Company - LLC
Line of Business :	Subjects operations are performed through the following divisions: • Food Division Engaged in the import and distribution of general foodstuffs. • Electronics Division Engaged in the import and distribution of electronic equipment and products • Consumer Goods Division Engaged in the import and distribution of fast moving consumer goods.
No. of Employees :	14

RATING & COMMENTS

MIRA’s Rating :

Ba

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
Payment Behaviour :	No Complaints
Litigation :	Clear

NOTES:

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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
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
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

BRAVIA INTERNATIONAL GENERAL TRADING LLC

IDENTIFICATION & CONTACT DETAILS
1) Name (s):
Organization Official Name		:	BRAVIA INTERNATIONAL GENERAL TRADING LLC
2) Registered Address:
Address		:	Alaqeeli Real Estate Building Al Daghaya
Town		:	Dubai
Country		:	United Arab Emirates
PO Box		:	83086
Phone (s)		:	(971-4) 2955923
		:	(971-4) 2735784
Facsimile		:	(971-4) 2735784
Mobile		:	(971-50) 5596545
3) Operational Address & Contact Details:
Address		:	Alaqeeli Real Estate Building Al Daghaya
Town		:	Dubai
Country		:	United Arab Emirates
PO Box		:	83086
Phone (s)		:	(971-4) 2955923
		:	(971-4) 2735784
Facsimile		:	(971-4) 2735784
Mobile		:	(971-50) 5596545
LEGAL FORM & INCORPORATION (REGISTRATION) DETAILS
Legal Form - Category		:	Limited Liability Company - LLC
Date of Registration		:	30th January 2006
Trade License Number		:	577341
Expiry Date		:	29/01/2016
Commercial Registration Number		:	78458, Dubai
OTHER REGISTRATION/ MEMBERSHIPS
Chamber Membership Number		:	104244
KEY FACTS
Operational Status		:	Steady
Financial Condition		:	Fair
Primary Business Activity		:	Subject operates several divisions (see below for details)
Number of Employees		:	14
Capital		:	UAE Dh 1,000,000
Note:
Subjects operations are performed through the following divisions: • Food Division Engaged in the import and distribution of general foodstuffs. • Electronics Division Engaged in the import and distribution of electronic equipment and products • Consumer Goods Division Engaged in the import and distribution of fast moving consumer goods.
CAPITAL DETAILS
Issued Capital:
No of Shares			No of Shares		Amount
N/A			N/A		UAE Dh 1,000,000
Paid Up Capital:
No of Shares			No of Shares		Amount
N/A			N/A		UAE Dh 1,000,000
FINANCIAL DATA
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 11,200,000		UAE Dh 11,720,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local sources.
BANKERS
1	Name			Bank of Baroda
	PO Box			3162 Dubai
	Tel			(971-4) 5531955
	Fax			(971-4) 5536962
SHAREHOLDERS
Sr.No	Name			Nationality		Percentage
1	Hanifa Ahmad			Emirati		51%
2	Rajnesh Shankeer Matour			Indian		25%
3	Piush Shankeer Matour			Indian		12%
4	Kuldip Shankeer			Indian		12%
Total Shares						100%
SENIOR MANAGEMENT
Sr.No	Name			Nationality	Dsignation
1	Rajnesh Shankeer Matour			Indian	Managing Director
2	Piush Shankeer Matour			Indian	Director
3	Kuldip Shankeer			Indian	Director
4	Hanifa Ahmad			Emirati	Director
INTERNATIONAL TRADE ACTIVITY MARKETS
Sr.No	Country			Activity
1	Europe			Import
2	Far East			Import
BRNAD NAMES
Sr.No	Name
1	XEROX
2	SAMSUNG
3	DELL
4	HCL
5	SOUNDEREAQ
6	DELON
7	JEAN PIERRE
PREMISES
Subject operates from a small suite of offices that are rented and located in the Central Business Area of Dubai.A27
PAYMENT
No complaints regarding subject’s payments have been reported.
ADVERSE DATA
Performance Defaults		:	No record found
Payment Defaults		:	No record found
Adverse Press Coverage		:	No record found
Litigations		:	No record found
Former Business Relationships		:	No record found
INVESTIGATOR'S COMMENTS
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

Currency	Unit	Indian Rupees
US Dollar	1	Rs.66.20
UK Pound	1	Rs.98.30
Euro	1	Rs.72.41
UAE Dh	1	Rs.17.96

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	KAR
Report Prepared by :	NIT

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
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
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
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
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%)

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