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Report No. : |
345012 |
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Report Date : |
17.10.2015 |
IDENTIFICATION DETAILS
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Name : |
MALWA TRADING LLC |
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Registered Office : |
Son of Rashid Bin Shabib Building Al Suq Al Kabeer Street Al Bateen, Deira Dubai 1234 |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
21.08.1982 |
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Com. Reg. No.: |
1037665, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Distributors of readymade garments |
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No. of Employee : |
15 |
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
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 |
IDENTIFICATION & CONTACT DETAILS
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1) Name (s): |
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Organization Official Name |
: |
MALWA TRADING LLC |
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2) Registered Address: |
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Address |
: |
Son of Rashid Bin Shabib Building Al Suq Al Kabeer Street Al Bateen,
Deira Dubai |
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PO Box |
: |
1234 |
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Phone (s) |
: |
(971-4) 2264577 |
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(971-4) 2264731 |
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Facsimile |
: |
(971-4) 2264731 |
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Mobile |
: |
(971-55) 8840752 |
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(971-50) 3449670 |
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Country |
: |
United Arab Emirates |
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3) Operational Address & Contact Details: |
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Address |
: |
Son of Rashid Bin Shabib Building Al Suq Al Kabeer Street Al Bateen,
Deira Dubai |
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PO Box |
: |
1234 |
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Phone (s) |
: |
(971-4) 2264577 |
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(971-4) 2264731 |
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Facsimile |
: |
(971-4) 2264731 |
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Mobile |
: |
(971-55) 8840752 |
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(971-50) 3449670 |
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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 |
: |
21st August 1982 |
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Trade License Number |
: |
201874 |
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Expiry Date |
: |
20/08/2016 |
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Commercial Registration Number |
: |
1037665, Dubai |
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OTHER REGISTRATION/ MEMBERSHIPS
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Chamber Membership Number |
: |
9529 |
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KEY FACTS
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Operational Status |
: |
Steady |
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Financial Condition |
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Fair |
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Primary Business Activity |
: |
Distributors of readymade garments |
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Number of Employees |
: |
15 |
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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 13,215,000 |
UAE Dh 13,500,000 |
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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 |
Deira Souq Branch Dubai |
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Account No |
25440815001 |
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SHAREHOLDERS
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Sr.No |
Name of Shareholders |
Country |
No. of Shares |
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1 |
Hassan Rahma Ali Hassan |
Emirati |
51% |
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2 |
Mansoor Ali Saifuddin |
Indian |
25% |
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3 |
Qutubdeen Mansoor |
Indian |
24% |
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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 |
Mansoor Ali Saifuddin |
Indian |
Managing Director |
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2 |
Qutubdeen Mansoor |
Indian |
Director |
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3 |
Hassan Rahma Ali Hassan |
Emirati |
Director |
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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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No complaints regarding subject’s payments have been reported. |
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ADVERSE DATA
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Performance Defaults |
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No record found |
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Payment Defaults |
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No record found |
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Adverse Press Coverage |
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No record found |
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Litigations |
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No record found |
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Former Business Relationships |
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No record found |
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INVESTIGATOR'S COMMENTS
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Local sources report that the subject’s operating history is clear with
payment obligations met in a generally timely manner. The financial position
is satisfactory and the company is deemed a fair trade risk. |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.97 |
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|
1 |
Rs.100.55 |
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Euro |
1 |
Rs.73.99 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
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Report Prepared
by : |
ANK |
RATING EXPLANATIONS
|
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 |
-- |
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.