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Report No. : |
320888 |
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Report Date : |
09.05.2015 |
IDENTIFICATION DETAILS
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Name : |
ENPEE GENERAL
TRADING LLC |
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Registered Office : |
102 Amar Building, Naser Square, Naif South, Deira, P O Box: 39626, 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 : |
26.09.2006 |
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Com. Reg. No.: |
999863, Dubai |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Import and
Distribution of Textiles, Readymade Garments, General Foodstuffs and
Electrical Products. |
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No. of Employees : |
4 |
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 |
|
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 : ENPEE GENERAL TRADING LLC
Country of Origin : Dubai,
United Arab Emirates
Legal Form : Limited
Liability Company – LLC
Registration Date : 26th
September 2006
Commercial
Registration Number : 999863, Dubai
Trade Licence
Number : 586305
Chamber Membership
Number : 111359
Issued Capital : UAE Dh
300,000
Paid up Capital : UAE Dh
300,000
Total Workforce : 4
Activities :
Distributors of textiles, readymade garments, general foodstuffs and
electrical products
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Nanand Kishour
Doltani, Managing Director
ENPEE GENERAL
TRADING LLC
Building : 102 Amar Building
Area : Naser Square, Naif South,
Deira
PO Box : 39626
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2282591 / 2282592
Facsimile : (971-4) 2282592 / 2282591
Mobile : (971-50) 2974297
/ (971-55) 8180421
Email : nawanisuresh@yahoo.com
Please note that the
above address is correct, the subject has no knowledge of the following
address, R K Building, 1st Floor, Suite No. F-01, Souk Al Kabeer,
Meena Bazaar, Bur Dubai, PO Box 242002, Dubai.
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Dubai.
Name Nationality Position
·
Nanand
Kishour Doltani Indian Managing
Director
·
Suresh Nawani Indian Director
·
Saeed
Saif Saeed Altunaiji Emirati Director
Date of Establishment : 26th
September 2006
Legal Form :
Limited Liability Company –
LLC
Commercial Reg. No. : 999863,
Dubai
Trade Licence No. : 586305
(Expires 24/09/2015)
Chamber Member No. : 111359
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
·
Saeed
Saif Saeed Altunaiji 51%
·
Nanand
Kishour Doltani ]
] 49%
· Suresh Nawani ]
Activities: Engaged in the import and distribution of textiles,
readymade garments, general foodstuffs and electrical products.
Import
Countries: Europe,
Malaysia, India, Hong Kong and Japan.
International Suppliers:
·
Eble Perfect Malaysia
·
Khind Malaysia
·
Trupiti Enterprises India
·
Pinita Export Ltd Hong
Kong
·
Merbabu Japan
Operating Trend: Steady
Subject has a
workforce of 4 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 15,725,000 UAE Dh 17,100,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Nanand Kishour Doltani, Managing Director
·
HSBC
Bank Middle East
Deira Souk Branch
PO Box: 66
Dubai
Tel: (971-4) 2535000
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.64.05 |
|
|
1 |
Rs.99.04 |
|
Euro |
1 |
Rs.71.76 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
NIT |
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.