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Report No. : |
303665 |
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Report Date : |
21.01.2015 |
IDENTIFICATION DETAILS
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Name : |
RATTI TRADING LLC |
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Registered Office : |
Hafeeza Ahmad Abdun Nabei Building, Al Hisn Street, Al Souq Al Kabir,
PO Box 51370, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
21.11.1991 |
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Com. Reg. No.: |
40176 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Engaged in the wholesale and retail of readymade garments and
furnishing fabrics. |
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No. of Employee : |
60 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
United Arab Emirates |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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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. 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 :
RATTI TRADING LLC
Country of Origin :
Dubai, United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date :
21st November 1991
Commercial Registration Number :
40176, Dubai
Trade Licence Number :
226429
Chamber Membership Number :
22531
Issued Capital :
UAE Dh 1,000,000
Paid up Capital :
UAE Dh 1,000,000
Total Workforce :
60
Activities :
Wholesale and retail of readymade garments and furnishing fabrics
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed :
Thomas Zakaria, Public Relations Officer
RATTI TRADING LLC
Registered &
Physical Address
Building :
Hafeeza Ahmad Abdun Nabei Building
Street : Al Hisn
Street
Area : Al Souq Al
Kabir
PO Box : 51370
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3533099
/ 3538143 / 3538168 / 3353114
Facsimile : (971-4)
3539928 / 3534588
Mobile : (971-50)
4572330
Email : ratti@emirates.net.ae
Premises
Subject operates from a medium sized suite of offices and a showroom that
are rented and located in the Central Business Area of Dubai.
Branch Offices
Location Description
Al Sayegh Building Showroom
premises
Bur Dubai
Dubai
Tel: (971-4) 3531144
Wasil Building Showroom
premises
Dubai
Tel: (971-4) 3535959
Deira Showroom
premises
Dubai
Name Nationality Position
Lal Manghanmal Hiranand Ramchandani Indian Managing
Director
Ishwar Lilaram Daswani Indian Director
Purshotam Kishan Satwani Indian Director
Vinod Motiram Datwani Indian Director
Abdul Salam Ibrahim Mohamed Hussain Emirati Director
Umesh Chandanani - Financial
Controller
Thomas Zakaria - Public
Relations Officer
Date of Establishment : 21st
November 1991
Legal Form : Limited Liability
Company - LLC
Commercial Reg. No. : 40176, Dubai
Trade Licence No. : 226429
Chamber Member No. : 22531
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Name of
Shareholder (s) Percentage
Abdul Salam Ibrahim Mohamed Hussain 51.0%
Lal Manghanmal Hiranand Ramchandani 21.5%
Ishwar Lilaram Daswani 17.5%
Purshotam Kishan Satwani 7.5%
Vinod Motiram Datwani 2.5%
Activities: Engaged in the wholesale and retail of readymade garments and
furnishing fabrics.
Import Countries: France, Japan, Indonesia and South Korea
International
Suppliers:
Y Nishta Japan
Dentalle Merry France
Toray Indonesia
Daewoo South
Korea
Subject has a workforce of 60 employees.
Companies registered in Dubai, United Arab Emirates are not legally
required to make their accounts public and no financial information was
released by the company or submitted by outside 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.61.85 |
|
|
1 |
Rs.93.27 |
|
Euro |
1 |
Rs.71.57 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
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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 |
|
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 |
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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 |
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-- |
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.