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Report No. : |
348408 |
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Report Date : |
06.11.2015 |
IDENTIFICATION DETAILS
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Name : |
TOP LINK INTERNATIONAL GENERAL TRADING LLC |
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Registered Office : |
Sheikh Ahmed Bin Rashid Al Maktoum Building, 1st Floor,
Suite No. 101, Al Mina Street, Bur Dubai, PO Box 52241, Dubai |
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Country : |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
02.05.1992 |
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Com. Reg. No.: |
55808 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Engaged in the import and distribution of steel and hardware. |
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No. of Employees : |
6 |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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. The country's free
trade zones - offering 100% foreign ownership and zero taxes - are helping to
attract foreign investors. The global financial crisis of 2008, 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 economic diversification and creating more job opportunities for nationals
through improved education and increased private sector employment.
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Source
: CIA |
Company Name : TOP LINK INTERNATIONAL GENERAL
TRADING LLC
Country of Origin :
Dubai, United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date :
2nd May 1992
Commercial Registration Number : 55808,
Trade Licence Number :
227852
Chamber Membership Number :
23915
Issued Capital :
UAE Dh 300,000
Paid up Capital :
UAE Dh 300,000
Total Workforce :
6
Activities :
Distributors of steel and hardware.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed :
Daswani Chandru Hemandas, Managing Director
TOP LINK INTERNATIONAL GENERAL TRADING LLC
Registered &
Physical Address
Building : Sheikh Ahmed
Bin Rashid Al Maktoum Building, 1st Floor, Suite No. 101
Street : Al Mina
Street
Area : Bur Dubai
PO Box : 52241
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 3936778
Facsimile : (971-4)
3936898
Mobile : (971-50) 7744574
Email : toplink@emirates.net.ae
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Dubai.
Branch Office (s)
Location Description
PO Box: 10672 Warehouse
premises
Dubai
Tel: (971-4) 3527243
Fax: (971-4) 2276277
Name Nationality Position
Daswani Chandru Hemandas
Indian Managing
Director
Rajeev Daswani Chandru Indian Director
Daswani Mona Chandru Indian Director
Hamed Mahmood Abdul Rahim Noori Emirati Director
Suzan Abraham - Administration
Executive
Lata Thanwani - Administration
Executive
Date of Establishment : 2nd May
1992
Legal Form : Limited Liability
Company - LLC
Commercial Reg. No. : 55808, Dubai
Trade Licence No. : 227852 (Expires
29/09/2016)
Chamber Member No. : 23915
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder
(s) Percentage
Hamed Mahmood Abdul Rahim Noori 51%
Daswani Chandru Hemandas 25%
Rajeev Daswani Chandru 12%
Daswani Mona Chandru 12%
Marami Plating LLC
Dubai
Enkay International FZE
Hamriyah Free Zone
Sharjah
Activities: Engaged in the import and distribution of steel and hardware.
Import Countries: Europe and India.
International
Suppliers:
Khemchand Sons Ltd India
Pillars 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 10,270,000 UAE Dh
10,550,000
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
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
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Indian Rupees |
|
US Dollar |
1 |
Rs.65.67 |
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|
1 |
Rs.101.02 |
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Euro |
1 |
Rs.71.35 |
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.