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Report No. : |
349879 |
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Report Date : |
18.11.2015 |
IDENTIFICATION DETAILS
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Name : |
GOLDEN OSKAR
TRADING CO LLC |
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Registered Office : |
Moosa Jaffar Building, Shop No. 1, Al Faheidi Street, Gawadiri Market, Al Souq Al Kabir, Deira, P O Box: 51253, 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 : |
22.01.1990 |
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Com. Reg. No.: |
46396, Dubai |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Import and
Distribution of Readymade Garments and Textiles. |
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No. of Employees : |
14 |
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) |
|
United Arab Emirates |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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.
|
Source
: CIA |
Company Name : GOLDEN OSKAR TRADING CO LLC
Country of Origin : Dubai,
United Arab Emirates
Legal Form : Limited
Liability Company – LLC
Registration Date : 22nd
January 1990
Commercial
Registration Number : 46396, Dubai
Trade Licence
Number : 221936
Chamber Membership
Number : 18229
Issued Capital : UAE Dh
300,000
Paid up Capital : UAE Dh
300,000
Total Workforce : 14
Activities :
Distributors of readymade garments and textiles
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Kellyia Lal,
Sales Manager
GOLDEN OSKAR
TRADING CO LLC
Building : Moosa Jaffar Building,
Shop No. 1
Street : Al Faheidi Street
Area : Gawadiri Market, Al Souq Al
Kabir, Deira
PO Box : 51253
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2251789 / 3538064 / 3517096
Facsimile : (971-4) 3530616 / 3517097
Mobile : (971-50) 6253095
Email : goldenoskar_dxb@yahoo.com
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Central Business Area of Dubai.
Name Nationality Position
·
Doulat
Ram Kalumal Indian Managing Director
·
Govind
Railwani Seoomal Indian Director
·
Saleh
Karam Mohamed Hassan Al Balooshi Emirati Director
·
Kellyia
Lal - Sales
Manager
Date of Establishment : 22nd
January 1990
Legal Form :
Limited Liability Company –
LLC
Commercial Reg. No. : 46396, Dubai
Trade Licence No. : 221936
(Expires 21/01/2016)
Chamber Member No. : 18229
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
·
Saleh
Karam Mohamed Hassan Al Balooshi 51%
·
Doulat
Ram Kalumal ]
] 49%
·
Govind
Railwani Seoomal ]
·
Golden
Plaza Textile
Dubai
·
Golden
Star Textile LLC
Dubai
Activities: Engaged in the import and distribution of
readymade garments and textiles.
Import
Countries: Europe, India
and China.
International Suppliers:
·
Supreme
Synthetic India
·
GE
Export India
·
Shoxing
Laquio China
·
Shoxing
County China
Operating Trend: Steady
Subject has a
workforce of 14 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 13,680,000 UAE Dh 13,935,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Standard
Chartered Bank
Khalid Bin Waleed Street
PO Box: 999
Dubai
Tel: (971-4) 2520455
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.65.98 |
|
|
1 |
Rs.100.11 |
|
Euro |
1 |
Rs.70.35 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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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 |
|
|
-- |
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.