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MIRA INFORM REPORT
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Report No. : |
506286 |
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Report Date : |
30.04.2018 |
IDENTIFICATION DETAILS
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Name : |
ROYALTY TRADING LLC |
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Registered Office : |
Mohamed Ahmed Capital Building, Shop No. 10 & 11, Al Fahidi Street, Al Suq Al Kabir, Bur
Dubai,
PO Box 45526 & 12639, Dubai |
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Country : |
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Financials (as on) : |
31.12.2017 |
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Date of Incorporation : |
05.08.2000 |
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Com. Reg. No.: |
55054, |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Subject is engaged in the wholesale and retail of textiles and
fabrics. |
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No. of Employees : |
6 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January
2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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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
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Country Name |
Previous
Rating (30.09.2017) |
Current Rating (31.12.2017) |
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A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 from the oil and gas sector to 30%.
Since the discovery of oil in the UAE nearly 60 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 2008-09, 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
The UAE’s dependence on oil is a significant long-term challenge,
although the UAE is one of the most diversified countries in the Gulf
Cooperation Council. Low oil prices have prompted the UAE to cut expenditures,
including on some social programs, but the UAE has sufficient assets in its
sovereign investment funds to cover its deficits. The government reduced fuel
subsidies in August 2015, and has announced plans to introduce excise and
value-added taxes by January 1, 2018. The UAE's strategic plan for the next few
years focuses on economic diversification, promoting the UAE as a global trade
and tourism hub, developing industry, and creating more job opportunities for
nationals through improved education and increased private sector employment.
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Source
: CIA |
SUMMARY
Company Name :
ROYALTY TRADING LLC
Country of Origin :
Legal Form :
Limited Liability Company - LLC
Registration Date :
5th August 2000
Commercial Registration Number :
55054,
Trade Licence Number :
520327
Chamber Membership Number :
59839
Issued Capital :
UAE Dh 300,000
Paid up Capital :
UAE Dh 300,000
Total Workforce :
6
Activities :
Wholesalers and retailers of textiles and fabrics
Financial Condition :
Fair
Payments :
No Complaints
Operating Trend :
Steady
COMPANY
NAME
ROYALTY TRADING LLC
ADDRESS
Registered &
Physical Address
Building : Mohamed Ahmed
Capital Building, Shop No. 10 & 11
Street :
Al Fahidi Street
Area :
Al Suq Al Kabir, Bur Dubai
PO Box :
45526 & 12639
Town :
Country :
Telephone : (971-4) 3536524
Facsimile : (971-4)
3536259 / 3536048
Email : royalty@yahoo.com
/ royaltytrading@yahoo.com
Premises
Subject operates from a small suite of offices and a showroom that are
rented and located in the Central Business Area of Dubai.
Branch Offices
Location Description
Al Quoz Industrial
Area Warehouse
premises
Tel: (971-4) 3479182
KEY
PRINCIPALS
Name Nationality Position
Ashok Vashdevmal Bhojwani Indian Managing Director
Kotadia Amrutlal Topubhai
Indian Director
Bhagwan Lalwani Indian Director
Abdul Salam Ibrahim Mohamed Hussain Emirati Director
Sunil Kumar Lakwani - Sales Manager
Deepak Takwani - Marketing
Manager
Mitash Kumar - Financial
Controller
LEGAL
FORM & OWNERS
Date of Establishment : 5th
August 2000
Legal Form : Limited Liability
Company - LLC
Commercial Reg. No. : 55054,
Trade Licence No. : 520327 (Expires
04/08/2018)
Chamber Member No. : 59839
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of
Shareholder (s) Percentage
Abdul Salam Ibrahim Mohamed Hussain 51%
Kotadia Amrutlal Topubhai 24%
Bhagwan Lalwani 22%
Ashok Vashdevmal Bhojwani 3%
AFFILIATED
COMPANIES
Universal Light LLC
Sharjah
Tel: (971-6) 5575003
OPERATIONS
Activities: Engaged in the wholesale and retail of textiles and fabrics.
Import Countries:
International
Suppliers:
Mitva Fabrics
Deakwang Textile
One World Co
Operating Trend: Steady
Subject has a workforce of 6 employees.
FINANCIAL
DATA
Financial
highlights provided by local sources are given below:
Currency:
Year
Ending 31/12/16: Year Ending
31/12/17:
Total Sales UAE
Dh 19,950,000 UAE Dh
20,500,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
BANKERS
Emirates National Bank of
PO Box: 777
Tel: (971-4) 2222555
Fax: (971-4) 2221110
PAYMENT
HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL
COMMENTS
The subject and its shareholders/owners have been searched in the
following databases; Office of Foreign Assets Control (OFAC), United Nations
Security Council Sanctions, Australian Sanctions List, US Consolidated Sanctions
List, EU Financial Sanctions List and UK Financial Sanctions List and nothing
adverse could be found on the exact names listed within the report.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 66.78 |
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1 |
INR 92.89 |
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Euro |
1 |
INR 80.74 |
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UAE Dh |
1 |
INR 18.10 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
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Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
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Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.