MIRA INFORM REPORT
|
Report No. : |
332199 |
|
Report Date : |
22.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
JANAT AL FERDAWS
GENERAL TRADING LLC |
|
|
|
|
Registered Office : |
Al Saekha
Building, 4th Floor, Office No. 404, Al Saekha Road, P O Box 172142 &
30161, Dubai |
|
|
|
|
Country : |
United Arab Emirates |
|
|
|
|
Date of Incorporation : |
06.01.2009 |
|
|
|
|
Com. Reg. No.: |
1052872, Dubai |
|
|
|
|
Legal Form : |
Limited Liability Company - LLC |
|
|
|
|
Line of Business : |
Subject Holds a
General Trade Licence, enabling it to Distribute General Merchandise. |
|
|
|
|
No. of Employees : |
3 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
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 |
|
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, 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 diversification and creating more opportunities for nationals through
improved education and increased private sector employment.
|
Source
: CIA |
SUMMARY
Company Name : JANAT AL
FERDAWS GENERAL TRADING LLC
Country of Origin : Dubai,
United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date : 6th
January 2009
Commercial
Registration Number : 1052872,
Dubai
Trade Licence
Number : 612455
Chamber Membership
Number : 179464
Issued Capital : UAE Dh
300,000
Paid up Capital : UAE Dh
300,000
Total Workforce : 3
Activities :
General trade licence
Financial Condition : Undetermined
Payments :
Unknown
COMPANY
NAME
JANAT AL FERDAWS
GENERAL TRADING LLC
ADDRESS
Registered & Physical
Address
Building : Al Saekha Building, 4th Floor,
Office No. 404
Street : Al Saekha Road
PO Box : 172142 & 30161
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2503331 / 2298880
Facsimile : (971-4) 2284898
Mobile : (971-50) 1581003
Premises
Subject operates from
a small suite of offices that are rented and located in the Central Business
Area of Dubai.
KEY
PRINCIPALS
Name Nationality Position
·
Prabhakaran
Nair Kunhiraman Nair Cheravu Kunhiraman Indian Managing Director
·
Samir
Abbas Ahmad Sajwani Emirati Director
LEGAL
FORM & OWNERS
Date of Establishment : 6th
January 2009
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 1052872,
Dubai
Trade Licence No. : 612455
(Expires 05/01/2016)
Chamber Member No. : 179464
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
·
Samir
Abbas Ahmad Sajwani 51%
·
Prabhakaran
Nair Kunhiraman Nair Cheravu Kunhiraman 49%
OPERATIONS
Activities: Subject
holds a general trade licence, enabling it to distribute general merchandise.
Import
Countries: Europe and the
Far East
Subject has a
workforce of 3 employees.
FINANCIAL
DATA
Companies
registered in Dubai are not legally required to make their accounts public and no
financial information was released by the company or submitted by outside
sources.
BANKERS
·
Middle
East Bank Ltd
Arbift Tower
Baniyas Street
PO Box: 5547
Dubai
Tel: (971-4) 2220121
PAYMENT
HISTORY
Unknown
GENERAL
COMMENTS
Please note that we
were unable to contact the subject directly during our investigation.
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.63.65 |
|
|
1 |
Rs.99.14 |
|
Euro |
1 |
Rs.68.91 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.