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Report No. : |
328113 |
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Report Date : |
23.06.2015 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Ali Jafar Building, 2nd Floor, Office No. M9, Ayak Al Naseer Area, Deira 64375 & 16259 Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
29.01.2013 |
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Com. Reg. No.: |
1109024 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Engaged in the import and distribution of readymade garments and textiles. |
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No of Employees : |
3 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 – March 31, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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UAE |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
UAE 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.
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Source
: CIA |
Company Name : MUHAMMED HANIF SHARIF GENERAL TRADING LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 29th January 2013
Commercial Registration Number : 1109024, Dubai
Trade Licence Number : 682650
Chamber Membership Number : 217747
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 3
Activities : Distributors of readymade garments and textiles.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : Mohamed Saleem, Sales Manager
MUHAMMED HANIF
SHARIF GENERAL TRADING LLC
Building : Ali Jafar Building, 2nd
Floor, Office No. M9
Location : Ayak Al Naseer Area, Deira
PO Box : 64375 & 16259
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2564256 / 2564266
Facsimile : (971-4) 2564266
Mobile : (971-55) 751250 / 7456707
Email : mhsgeneraltradingllc@gmail.com
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Dubai.
Name Nationality Position
·
Mohamed
Hanif Mohd Sharif Indian Managing
Director
·
Wahida
Elahi Bakhash Emirati Director
·
Mohamed
Saleem - Sales
Manager
Date of Establishment : 29th
January 2013
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 1109024,
Dubai
Trade Licence No. : 682650
Chamber Member No. : 217747
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
·
Wahida
Elahi Bakhash 51%
·
Mohamed
Hanif Mohd Sharif 49%
Activities: Engaged
in the import and distribution of readymade garments and textiles.
Import
Countries: Europe and
India.
International Suppliers:
·
F F I International India
·
Chestia India
·
Prince Industries India
Subject has a
workforce of 3 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.
·
Mashreq
Bank Plc
Deira Branch
PO Box: 1250
Dubai
Tel: (971-4) 2229131 / 2221134
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
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 63.50 |
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|
1 |
Rs. 100.93 |
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Euro |
1 |
Rs. 72.31 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
DPT |
RATING EXPLANATIONS
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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 |
-- |
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.