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Report No. : |
345352 |
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Report Date : |
16.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
PRUDENTIAL STAR
GENERAL TRADING LLC |
|
|
|
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Registered Office : |
Al Makhawi Building, 1st Floor, Office No. 103-107 Oud Mehta RoadKarama 242673 Dubai |
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|
|
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Country : |
United Arab
Emirates |
|
|
|
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Date of Incorporation : |
24.08.2015 |
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|
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Com. Reg. No.: |
1185974, Dubai |
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|
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Legal Form : |
Limited Liability
Company – LLC |
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|
|
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Line of Business : |
Subject holds a general
trade licence, enabling it to distribute general merchandise. |
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|
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No. of Employee : |
4 |
RATING & COMMENTS
|
MIRA’s Rating : |
NB |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
-- |
NB |
New Business |
-- |
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Status : |
New business |
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|
|
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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 |
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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 : PRUDENTIAL
STAR GENERAL TRADING LLC
Country of Origin : Dubai,
United Arab Emirates
Legal Form :
Limited Liability Company – LLC
Registration Date : 24th
August 2015
Commercial
Registration Number : 1185974,
Dubai
Trade Licence
Number : 740415
Chamber Membership
Number : 256606
Issued Capital : UAE Dh
300,000
Paid up Capital : UAE Dh
300,000
Total Workforce : 4
Activities :
General trade licence
Financial Condition : Undetermined
Payments :
unknown
PRUDENTIAL STAR
GENERAL TRADING LLC
Building : Al Makhawi Building, 1st
Floor, Office No. 103-107
Street : Oud Mehta Road
Area : Karama
PO Box : 242673
Town : Dubai
Country : United Arab Emirates
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Dubai.
Name Nationality Position
·
Franklin
Joseph Eric Pais Marcel Pais Indian Managing
Director
·
Suguna
Pai Somanath Shenoy Indian Director
·
Gopi
Rama Reddy Rama Reddy Indian Director
·
Mohamed
Abdulla Ibrahim Altaheri Emirati Director
Date of Establishment : 24th
August 2015
Legal Form :
Limited Liability Company –
LLC
Commercial Reg. No. : 1185974,
Dubai
Trade Licence No. : 740415
(Expires 15/08/2016)
Chamber Member No. : 256606
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
·
Mohamed
Abdulla Ibrahim Altaheri 51%
·
Franklin
Joseph Eric Pais Marcel Pais 17%
·
Suguna
Pai Somanath Shenoy 16%
·
Gopi
Rama Reddy Rama Reddy 16%
Activities: Subject holds a general trade licence,
enabling it to distribute general merchandise.
Subject has a
workforce of 4 employees.
Subject is a newly
formed business and as a result financial information is not currently
available.
·
Bank of
Baroda
PO Box: 3162
Dubai
Tel: (971-4) 5531955
Fax: (971-4) 5536962
Unknown
Please note that we
were unable to contact the subject directly during our investigation.
In view of
subject’s infancy, extensive payment and financial are not available, therefore
dealings are recommended to be on secured terms, and a close monitoring of
subject’s business development is advisable.
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
: |
HNA |
|
|
|
|
Report Prepared
by : |
ANK |
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 |
|
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.