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Report No. : |
311013 |
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Report Date : |
13.03.2015 |
IDENTIFICATION DETAILS
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Name : |
WHITE CRESCENT TRADING LLC |
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Registered Office : |
M-17, Gold Land Building, PO Box 65102, 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 : |
07.05.2001 |
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Com. Reg. No.: |
63728 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Subject operates a general trade licence, and is engaged in the import
and distribution of general merchandise including crystal products, watches
and spare parts. |
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No. of Employees : |
7 |
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) |
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United Arab Emirates |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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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.
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Source
: CIA |
Company Name :
WHITE CRESCENT TRADING LLC
Country of Origin :
Dubai, United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date :
7th May 2001
Commercial Registration Number :
63728, Dubai
Trade Licence Number :
526197
Chamber Membership Number :
64037
Issued Capital :
UAE Dh 300,000
Paid up Capital :
UAE Dh 300,000
Total Workforce :
7
Activities :
Subject operates a general trade licence
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
WHITE CRESCENT TRADING LLC
Registered & Physical
Address
Location : M-17, Gold
Land Building
PO Box : 65102
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 2351036
Facsimile : (971-4)
2351037
Mobile : (971-50)
3499037
Email : bsgoldcraft@gmail.com
Please note that subject’s previous address was, Hamad Fadhal Alhamli
Building, Al Daghaya Street, Al Daghaya, Dubai.
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Dubai.
Name Nationality Position
Haji Mohamed Fazal Mohamed Pakistani Managing
Director
Mohamed Azam Mohamed Iqbal Pakistani Director
Sultan Hilal Humaid Al Suwaidi Emirati Director
Date of Establishment : 7th
May 2001
Legal Form : Limited Liability
Company - LLC
Commercial Reg. No. : 63728, Dubai
Trade Licence No. : 526197 (Expires
06/05/2015)
Chamber Member No. : 64037
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
Sultan Hilal Humaid Al Suwaidi 51%
Haji Mohamed Fazal Mohamed 25%
Mohamed Azam Mohamed Iqbal 24%
Activities: Subject operates a general trade licence, and is engaged in the import
and distribution of general merchandise including crystal products, watches and
spare parts.
Import Countries: Europe and India
Operating Trend: Steady
Subject has a workforce of 7 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 9,150,000 UAE Dh
9,375,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
Arab Bank for Investment & Foreign Trade
PO Box: 5549
Dubai
Tel: (971-4) 2220151
Fax: (971-4) 2223431
No complaints regarding subject’s payments have been reported.
Please note that we were unable to contact the subject directly during
our investigation.
Local sources report that the subject’s operating history is clear with
payment obligations met in a generally timely manner, and the company is deemed
a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.57 |
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|
1 |
Rs.93.57 |
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Euro |
1 |
Rs.65.95 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
TPT |
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 |
-- |
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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.