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Report No. : |
323058 |
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Report Date : |
21.05.2015 |
IDENTIFICATION DETAILS
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Name : |
JASHAN TRADING
LLC |
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|
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Registered Office : |
Sheikh Hasher Building, Suite 308Al Ras, Deira 27838 & 27508 Dubai |
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Country : |
United Arab
Emirates |
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Date of Incorporation : |
16.10.2001 |
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Com. Reg. No.: |
57681, 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 general foodstuffs, including rice, spices and sugar. |
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No. of Employee : |
6 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
|
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 : JASHAN
TRADING LLC
Country of Origin : Dubai,
United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date : 16th
October 2001
Commercial
Registration Number : 57681,
Dubai
Trade Licence
Number : 529770
Chamber Membership
Number : 65532
Issued Capital : UAE Dh
600,000
Paid up Capital : UAE Dh
600,000
Total Workforce : 6
Activities :
Distributors of general foodstuffs.
Financial Condition : Good
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Rajneesh
Aggarwal, Managing Director
JASHAN TRADING LLC
Building : Sheikh Hasher Building, Suite 308
Area : Al Ras, Deira
PO Box : 27838 & 27508
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2946993
Facsimile : (971-4) 2946994
Mobile : (971-50) 7489785 /
(971-55) 8806795
Email : jashantc@emirates.net.ae
Please note that
subject’s previous address was, Abdullah Abdulaziz Az Zarooni Building, Suite
102, Al Ras Street, Al Ras, Deira, Dubai. Subject moved to the above address in
2010.
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Dubai.
Name Nationality Position
·
Rajneesh
Aggarwal Indian Managing
Director
·
Manik
Aggarwal Indian Director
·
Redha
Ghuloom Hussain Ali Khoory Emirati Director
·
Keshor Kumar - Administrative
Officer
Date of Establishment : 16th
October 2001
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 57681, Dubai
Trade Licence No. : 529770
Chamber Member No. : 65532
Issued Capital : UAE Dh 600,000
Paid up Capital : UAE Dh 600,000
·
Redha
Ghuloom Hussain Ali Khoory 51%
·
Rajneesh
Aggarwal ]
] 49%
·
Manik
Aggarwal ]
Activities: Engaged in the import and distribution of general
foodstuffs, including rice, spices and sugar.
Import
Countries: Asia, Europe and
India
International
Suppliers:
·
Sun Star Overseas Pvt Ltd India
· J R Agrotech Pvt
Ltd India
Operating Trend: Steady
Subject has a
workforce of 6 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
290,000,000 UAE Dh
303,000,000
Local sources
consider subject’s financial condition to be Good.
The above figures
were provided by Mr Rajneesh Aggarwal, Managing Director
·
Commercial
Bank of Dubai
Baniyas Street
Deira
PO Box: 1709
Dubai
Tel: (971-4) 2227121 / 2253222
Fax: (971-4) 2220943 / 2254565
No complaints
regarding subject’s payments have been reported.
Credit amount 150,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency US
Dollars
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.63.86 |
|
|
1 |
Rs.98.89 |
|
Euro |
1 |
Rs.70.73 |
INFORMATION DETAILS
|
Analysis Done by
: |
SAN |
|
|
|
|
Report Prepared
by : |
ANK |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>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 |
|
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 |
|
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.