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Report No. : |
313646 |
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Report Date : |
26.03.2015 |
IDENTIFICATION DETAILS
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Name : |
AL RAMEL AL ABYAD
GENERAL TRADING LLC |
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Registered Office : |
Twin Tower, Office No. 802 Baniyas Street 171241 Dubai |
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Country : |
United Arab
Emirates |
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Date of Incorporation : |
03.07.2013 |
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Com. Reg. No.: |
1118252, Dubai |
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Legal Form : |
Limited Liability
Company - LLC |
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Line of Business : |
Engaged in the import
and distribution of spices and petrochemical products. |
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No. of Employee : |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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 : AL RAMEL
AL ABYAD GENERAL TRADING LLC
Country of Origin : Dubai,
United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date : 3rd
July 2013
Commercial
Registration Number : 1118252,
Dubai
Trade Licence
Number : 691519
Chamber Membership
Number : 220553
Issued Capital : UAE Dh
300,000
Paid up Capital : UAE Dh
300,000
Total Workforce : 3
Activities :
Distributors of spices and petrochemical products
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Person Interviewed : Keeyeh Hu,
Administration Executive
AL RAMEL AL ABYAD GENERAL TRADING LLC
Building : Twin Tower, Office No. 802
Street : Baniyas Street
PO Box : 171241
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2954574
Facsimile : (971-4) 2954576
Mobile : (971-50) 1445980
Email : alramelalbyad@gmail.com
Please note that
subject’s previous address was, MM Tower, 11th Floor, Office No.
1104, Al Maktoum Street, Dubai.
Subject operates from
a small suite of offices that are rented and located in the Central Business
Area of Dubai.
Name Nationality Position
·
Kamallavan
Antony Joseph Indian Managing
Director
·
Salma
Humaid Salem Obaid A Shaer Emirati Director
·
Keeyeh
Hu - Administration
Executive
Date of Establishment : 3rd
July 2013
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 1118252,
Dubai
Trade Licence No. : 691519
(Expires 02/07/2015)
Chamber Member No. : 220553
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
·
Salma
Humaid Salem Obaid A Shaer 51%
·
Kamallavan
Antony Joseph 49%
Activities: Engaged in
the import and distribution of spices and petrochemical products.
Import
Countries: Europe and the
Far East
Principal Suppliers:
·
Jupiter Chemicals India
·
Wallet General Trading India
·
Slide General Trading Dubai
·
Potenza General Trading LLC Dubai
Subject has a
workforce of 3 employees.
Financial
highlights provided by local sources are given below:
Currency: United
Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/14:
Total sales UAE
Dh 6,100,000
Local sources consider
subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
Bank of
Baroda
PO Box: 3162
Dubai
Tel: (971-4) 5531955
Fax: (971-4) 5536962
Acc No. AE 75 0110 0900 1020 0020 678
No complaints
regarding subject’s payments have been reported.
Local sources
report that the subject’s operating history is clear with payment obligations met
in a generally timely manner. The financial position is satisfactory and the
company is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.34 |
|
|
1 |
Rs.92.64 |
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Euro |
1 |
Rs.68.12 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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|
|
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Report Prepared
by : |
ANK |
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 |
|
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.