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Report No. : |
320455 |
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Report Date : |
07.05.2015 |
IDENTIFICATION DETAILS
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Name : |
AL MUMAYAZ MEAT TRADING LLC |
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Registered Office : |
Shed No.1 , Industrial Area No. 13, PO Box 71370, Sharjah |
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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 : |
02.09.2008 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Engaged in the import and distribution of fresh and frozen meat and
poultry. |
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No. of Employees : |
150 |
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) |
|
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. 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 |
Company Name :
AL MUMAYAZ MEAT TRADING LLC
Country of Origin :
Sharjah, United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date :
2nd September 2008
Trade Licence Number :
568311
Chamber Membership Number :
85702
Issued Capital :
UAE Dh 150,000
Paid up Capital :
UAE Dh 150,000
Total Workforce : 150
Activities :
Distributors of fresh and frozen meat and poultry
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
AL MUMAYAZ MEAT TRADING LLC
Registered &
Physical Address
Building :
Shed No.1
Area : Industrial
Area No. 13
PO Box : 71370
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 5683334
/ 5772438
Facsimile : (971-6)
5683090
Mobile : (971-50)
99065575 / 772437
Email : mmtrading8@gmail.com
Premises
Subject operates from a large suite of offices and a warehouse that are
rented and located in the Industrial Area of Sharjah.
Name Nationality Position
Waseem Quraishi Indian Managing
Director
Ibrahim Arham Quraishi Indian Director
Ahmed Ibrahim Mohamed Issa Emirati Director
Date of Establishment : 2nd
September 2008
Legal Form : Limited Liability
Company - LLC
Trade Licence No. : 568311
Chamber Member No. : 85702
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Name of
Shareholder (s) Percentage
Ahmed Ibrahim Mohamed Issa 51%
Waseem Quraishi ]
] 49%
Ibrahim Arham Quraishi ]
Activities: Engaged in the import and distribution of fresh and frozen meat and
poultry.
Import Countries: India and Brazil
International Suppliers:
Al Nafees Export India
Alliz Brazil
SAADA Brazil
Operating Trend: Steady
Subject has a workforce of 150 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 41,750,000 UAE Dh
43,000,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
National Bank of Sharjah
Al Boorj Avenue
PO Box: 4
Sharjah
Tel: (971-6) 5547747
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.63.64 |
|
|
1 |
Rs.96.81 |
|
Euro |
1 |
Rs.71.51 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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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 |
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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.