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Report No. : |
344897 |
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Report Date : |
16.10.2015 |
IDENTIFICATION DETAILS
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Name : |
MONALISA LLC |
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|
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Registered Office : |
New Sanaya Building, 2nd Floor, New Industrial Area, PO
Box 941, Ajman |
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Country : |
United
Arab Emirates |
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|
|
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Date of Incorporation : |
15.10.1981 |
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Com. Reg. No.: |
3635 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Engaged in the wholesale and retail of readymade garments, textiles and
toys. |
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No. of Employees : |
45 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 :
MONALISA LLC
Country of Origin : Ajman, United Arab
Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date :
15th October 1981
Commercial Registration Number :
3635, Ajman
File Number :
1336
Chamber Membership Number :
3740
Issued Capital :
UAE Dh 300,000
Paid up Capital :
UAE Dh 300,000
Total Workforce : 45
Activities :
Wholesalers and retailers of readymade garments, textiles and toys
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed :
K C Hemant, Operations Manager
MONALISA LLC
Registered &
Physical Address
Building :
New Sanaya Building, 2nd Floor
Area : New
Industrial Area
PO Box : 941
Town : Ajman
Country : United Arab Emirates
Telephone : (971-6) 7433996
/ 7428860
Facsimile : (971-6)
7432604
Email : info@monalisa-ae.com
Premises
Subject operates from a medium sized suite of offices that are rented
and located in the Industrial Area of Ajman.
Branch Office (s)
Location Description
Al Ittihad Road Showroom
premises
Sharjah
Tel: (971-6) 5771270
Al Wahda Street Showroom
premises
Sharjah
Tel: (971-6) 5532250
Ajman City Centre Showroom
premises
Ajman
Tel: (971-6) 7431384
Sheikh Rashid Bin Humaid Al Nuaimi Street Showroom
premises
Ajman
Tel: (971-6) 7428860
Al Bustan Center Showroom
premises
Qusais
Dubai
Tel: (971-4) 2617442
Madina Hall Showroom
premises
Dubai
Tel: (971-4) 2558244
Mohamed Bin Matar Street Showroom
premises
Fujairah
Tel: (971-9) 2243801
Al Dhait Showroom
premises
Ras Al Khaimah
Tel: (971-7) 2354901
Al Qurum Complex Showroom
premises
Oman
Tel: (968) 24560852
Muscat Grand Mall Showroom
premises
Oman
Tel: (968) 24399996
Name Nationality Position
Shabeer Sharif Galwala Indian Managing
Director
Salem Ali Rashed Al Kiwani Al Alili Emirati Director
K C Hemant - Operations
Manager
Fakhruddine Pinawala - Sales
Manager
Date of Establishment : 15th
October 1981
Legal Form : Limited Liability
Company - LLC
Commercial Reg. No. : 3635, Ajman
File No. : 1336
Chamber Member No. : 3740
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of
Shareholder (s) Percentage
Salem Ali Rashed Al Kiwani Al Alili 51%
Shabeer Sharif Galwala 49%
Activities: Engaged in the wholesale and retail of readymade garments, textiles and
toys.
Import Countries: Europe and the Far East
Local Suppliers:
Sorex LLC Dubai
Profile Trading LLC Dubai
Brand Names: DAVINA
Subject has a workforce of 45 employees.
Companies registered in Ajman, United Arab Emirates are not legally
required to make their accounts public and no financial information was
released by the company or submitted by outside sources.
HSBC Bank Middle East
Main Branch
Ajman
Tel: (971-6) 5537222
Fax: (971-6) 5537880
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.64.82 |
|
|
1 |
Rs.100.41 |
|
Euro |
1 |
Rs.74.50 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
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 |
-- |
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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.