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Report No. : |
309873 |
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Report Date : |
27.02.2015 |
IDENTIFICATION DETAILS
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Name : |
EXPERTS FOR FOODSTUFF LLC |
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Registered Office : |
Sun Tech Tower, 9th Floor, Office No. 907, Dubai Silicon Oasis, PO Box
341013, Dubai |
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Country : |
United
Arab Emirates |
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Date of Incorporation : |
12.06.2014 |
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Com. Reg. No.: |
707820 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Engaged in the import and distribution of general foodstuff products,
including luncheon meat, chicken, long life milk and fruit juices. |
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No. of Employees : |
8 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
|
-- |
NB |
New Business |
-- |
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Status : |
New Business |
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Payment Behaviour : |
Unknown |
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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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 : EXPERTS FOR FOODSTUFF LLC
Country of Origin :
Dubai, United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date :
12th June 2014
Commercial Registration Number : 707820
Trade Licence Number :
BOP-341, Dubai Silicon Oasis
Issued Capital :
UAE Dh 300,000
Paid up Capital :
UAE Dh 300,000
Total Workforce :
8
Activities :
Import and distribution of general foodstuff products
Financial Condition :
Undetermined
Payments :
Unknown
Person Interviewed :
Hadi Hassan, Commercial Manager
EXPERTS FOR FOODSTUFF LLC
Registered &
Physical Address
Building :
SunTech Tower, 9th Floor, Office No. 907
Area : Dubai
Silicon Oasis
PO Box :
341013
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 3336631
Facsimile : (971-4)
3712998
Email : info.dubai@exp-food.com
Premises
Subject operates from a small suite of offices that are rented and
located in the Commercial Area of Dubai.
Name Nationality Position
Mohamed Bashir Hassan Salama Jordanian Managing Director
Ashraf Al Saei - Operations
Manager
Hadi Hassan - Commercial
Manager
Date of Establishment : 12th
June 2014
Legal Form : Limited Liability
Company - LLC
Commercial Reg. No. : 707820
Trade Licence No. : BOP-341, Dubai
Silicon Oasis
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of
Shareholder (s)
C I G Business Services Group
Al Zarooni Building
Al Barsha
Dubai
United Arab Emirates
Mohamed Bashir Hassan Salama
Expert Trading FZE
Dubai
United Arab Emirates
Activities: Engaged in the import and distribution of general foodstuff products,
including luncheon meat, chicken, long life milk and fruit juices.
Import Countries: Jordan and India
International Suppliers:
Arabian Trade & Food Industry Ltd (Alwadi) Jordan
Subject has a workforce of 8 employees.
Subject is a newly formed business and as a result financial information
is not currently available.
Commercial Bank of Dubai
Mankhool Street
PO Box: 2668
Dubai
Tel: (971-4) 3523355
Fax: (971-4) 3527655 / 2524796
Unknown
In view of subject’s infancy, extensive payment and financial are not
available, therefore dealings are recommended to be on secured terms, and a
close monitoring of subject’s business development is advisable.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.94 |
|
|
1 |
Rs.96.24 |
|
Euro |
1 |
Rs.70.38 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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|
|
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Report Prepared
by : |
TPT |
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 |
|
|
-- |
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.