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Report No. : |
308712 |
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Report Date : |
21.02.2015 |
IDENTIFICATION DETAILS
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Name : |
BADRIYAH SALEH
TRADING CO LLC |
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Registered Office : |
Al Khoor Building, 2nd Floor, Suite No. 203, Baniyas Street, Creek Side, Deira, P O Box: 51697, 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 : |
19.01.1994 |
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Com. Reg. No.: |
51332, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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LINE OF BUSINESS : |
WHOLESALE AND RETAIL OF
READYMADE GARMENTS AND TEXTILES. |
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No. of Employees : |
12 |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
United Arab Emirates |
A2 |
A2 |
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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. In April 2004, the UAE signed a Trade and Investment Framework
Agreement with Washington and in November 2004 agreed to undertake negotiations
toward a Free Trade Agreement with the US; however, those talks have not moved
forward. 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. The UAE Central Bank and Abu Dhabi-based banks bought the
largest shares. In December 2009 Dubai received an additional $10 billion loan
from the emirate of Abu Dhabi. 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 : BADRIYAH
SALEH TRADING CO LLC
Doing Business As : B S TRADING
LLC
Country of Origin : Dubai,
United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date : 19th
January 1994
Commercial
Registration Number : 51332,
Dubai
Trade Licence
Number : 233088
Chamber Membership
Number : 29242
Issued Capital : UAE Dh
300,000
Paid up Capital : UAE Dh
300,000
Total Workforce : 12
Activities :
Wholesalers and retailers of readymade garments and textiles.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
BADRIYAH SALEH
TRADING CO LLC
B S TRADING LLC
Building : Al Khoor Building, 2nd
Floor, Suite No. 203
Street : Baniyas Street
Area : Creek Side, Deira
PO Box : 51697
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2259139 / 2250902
Facsimile : (971-4) 2256420
Mobile : (971-50) 6574782
Email : bstrdg@emirates.net.ae
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Dubai.
Name Nationality Position
·
Dinesh
Lalwani Bin Hreish Kumar Lalwani Indian Managing Director
·
Chander
Kumar Lalwani Indian Director
·
Harish Kumar
Lalwani Indian Director
·
Ravi
Lalwani Chander Kumar Lalwani Indian Director
·
Badria
Saleh Abdullah Emirati Director
·
Kishan
Chand - Sales
Manager
·
T
Marvin - Accountant
·
Mohamed
Ibrahim - Sales
Executive
Date of Establishment : 19th
January 1994
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 51332, Dubai
Trade Licence No. : 233088
(Expires 03/08/2015)
Chamber Member No. : 29242
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
·
Badria
Saleh Abdullah 51%
·
Dinesh
Lalwani Bin Hreish Kumar Lalwani 15%
·
Chander
Kumar Lalwani 12%
·
Harish
Kumar Lalwani 12%
·
Ravi Lalwani
Chander Kumar Lalwani 10%
·
Sarthi
Trading LLC
Dubai
United Arab Emirates
Tel: (971-4) 3536454
Fax: (971-4) 3556180
·
Abu
Aref Trading Co LLC
Dubai
United Arab Emirates
Tel: (971-4) 2267713
Activities: Engaged in the wholesale and retail of
readymade garments and textiles.
Import
Countries: India and the
Far East
International
Suppliers:
·
Purthi
International India
·
Sadakar
Wolan India
·
Knitex India
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 14,680,000 UAE Dh 15,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Bank of
Baroda
PO Box: 3162
Dubai
Tel: (971-4) 5531955
Fax: (971-4) 5536962
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.62.26 |
|
|
1 |
Rs.96.01 |
|
Euro |
1 |
Rs.70.72 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
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.