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Report No. : |
345011 |
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Report Date : |
16.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
SAARTHI TRADING LLC |
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|
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Registered Office : |
Shop No. 3, King Heirs Juma Khalifa Bagheiza --- Bur Dubai large –Alsoq 51697 |
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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 : |
15.08.2007 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Distributors of textiles and
readymade garments |
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No. of Employees : |
7 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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|
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Payment Behaviour : |
Slow but correct |
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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 |
IDENTIFICATION & CONTACT DETAILS
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1) Name (s): |
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Organization
Official Name |
: |
SAARTHI TRADING
LLC |
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2) Registered Address: |
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Address |
: |
Shop No. 3, King
Heirs Juma Khalifa Bagheiza --- Bur Dubai large --Alsoq |
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PO Box |
: |
51697 |
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Phone (s) |
: |
(971-4) 3536545 |
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(971-4) 3536818 |
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Facsimile |
: |
(971-4) 2256420 |
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Email |
: |
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Mobile |
: |
(971-50) 7464900
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(971-50) 6598394 |
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Country |
: |
United Arab
Emirates |
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3) Operational Address & Contact
Details: |
||||||
|
Address |
: |
Shop No. 3, King
Heirs Juma Khalifa Bagheiza --- Bur Dubai large --Alsoq |
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|
PO Box |
: |
51697 |
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Phone (s) |
: |
(971-4) 3536545 |
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(971-4) 3536818 |
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Facsimile |
: |
(971-4) 2256420 |
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Email |
: |
|||||
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Mobile |
: |
(971-50) 7464900
|
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(971-50) 6598394 |
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Country |
: |
United Arab
Emirates |
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LEGAL FORM & INCORPORATION (REGISTRATION)
DETAILS
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Legal Form -
Category |
: |
Limited
Liability Company - LLC |
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Date of
Registration |
: |
15th August 2007 |
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Trade License
Number |
: |
599494 |
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Expiry Date |
: |
14/08/2016 |
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Commercial
Registration Number |
: |
1015025, Dubai |
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OTHER REGISTRATION/ MEMBERSHIPS
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Chamber
Membership Number |
: |
122912 |
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KEY FACTS
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Operational
Status |
: |
Steady |
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Financial
Condition |
: |
Fair |
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Primary Business
Activity |
: |
Distributors of textiles
and readymade garments |
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Number of
Employees |
: |
7 |
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Capital |
: |
UAE Dh 300,000 |
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CAPITAL DETAILS
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Issued Capital: |
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NO OF SHARES |
VALUE OF SHARE |
AMOUNT |
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N/A |
N/A |
UAE Dh 300,000 |
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Paid Up Capital: |
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NO OF SHARES |
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AMOUNT |
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N/A |
N/A |
UAE Dh 300,000 |
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FINANCIAL DATA
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Financial
highlights provided by local sources are given below: |
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Currency: United
Arab Emirates Dirham (UAE Dh) |
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Year Ending
31/12/13 |
Year Ending
31/12/14 |
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Total Sales |
UAE Dh 8,625,000 |
UAE Dh 8,840,000 |
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Local sources
consider subject’s financial condition to be Fair. |
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The above financial
figures are based on estimations by our local sources. |
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BANKER
|
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1 |
Name |
National Bank of
Ras Al Khaimah |
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|
Address |
Dubai |
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Acc No |
882049360001.00 |
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Acc Name |
Chander Kumar lalwani
& Ravi lalwani |
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SHAREHOLDERS
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Sr.No |
Name of Shareholders |
Country |
No. of Shares |
|||
|
1 |
Badria Saleh
Abdulla |
Emirati |
51% |
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2 |
Ravi Lalwani
Chander Kumar Lalwani |
Indian |
15% |
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3 |
Dines Lalwani
Bin Hreish Kumar Lalwani |
Indian |
14% |
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4 |
Chander Kumar
Lalwani |
Indian |
10% |
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|
5 |
Harish Kumar
Lalwani |
Indian |
10% |
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Total
Share |
100% |
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SENIOR MANAGEMENT
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Sr.No |
Name |
Nationality |
Dsignation |
|||
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1 |
Ravi Lalwani
Chander Kumar Lalwani |
Indian |
Managing
Director |
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|
2 |
Dines Lalwani
Bin Hreish Kumar Lalwani |
Indian |
Director |
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3 |
Chander Kumar
Lalwani |
Indian |
Director |
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|
4 |
Harish Kumar
Lalwani |
Indian |
Director |
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|
5 |
Badria Saleh
Abdulla |
Emirati |
Director |
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6 |
Naresh Goklani |
n/a |
General Manager |
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INTERNATIONAL TRADE ACTIVITY MARKETS
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Sr.No |
Country |
Activity |
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|
1 |
Europe |
Import |
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2 |
GCC |
Import |
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PREMISES
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Subject operates
from a small suite of offices and a showroom that are rented and located in
the Central Business Area of Dubai. |
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PAYMENT
|
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|
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Slow but correct
regarding subject’s payments have been reported. |
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ADVERSE DATA
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Performance
Defaults |
: |
No record found |
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Payment Defaults |
: |
No record found |
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Adverse Press
Coverage |
: |
No record found |
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Litigations |
: |
No record found |
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Former Business
Relationships |
: |
No record found |
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INVESTIGATOR'S COMMENTS
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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. |
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.82 |
|
UK Pound |
1 |
Rs.100.41 |
|
Euro |
1 |
Rs.74.50 |
INFORMATION DETAILS
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
TRU |
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 |
|
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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 |
|
|
<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.