MIRA INFORM REPORT

Report No. :	516250
Report Date :	26.06.2018

IDENTIFICATION DETAILS

Name :	EXCOM GENERAL TRADING LLC
Registered Office :	Property owned by Sultan Ahmed Mohd Lootah Building, Office No. 8, Bur Dubai, PO Box: 46279, Dubai
Country :	United Arab Emirates
Date of Incorporation :	13.12.2007
Com. Reg. No.:	604252
Legal Form :	Limited Liability Company
Line of Business :	· Agents involved in the sale of food, beverages and tobacco · Wholesale of textiles
No. of Employees :	5 [2018]

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

B

Credit Rating	Explanation	Rating Comments
B	Medium Risk	Business dealings permissible on a regular monitoring basis

Status :	Moderate
Payment Behaviour :	Unknown
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

Country Name	Previous Rating (31.12.2017)	Current Rating (01.04.2018)
United Arab Emirates	A2	A2

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
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 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 Government that was refinanced in March 2014.

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.

Source : CIA

SUMMARY
COMPANY NAME	EXCOM GENERAL TRADING LLC
ADDRESS	Building	Street			Area			PO Box
	Lootah Building, Office 8	Al Souq Al Kabir Street			Bur Dubai, Near Koki Restaurant			46279 Dubai
PHONE	Verified Phones: (+971 55) 882 8701
EMAIL/WEBSITE	Email: ardalkayal@gmail.com / Website: N/A
ACTIVITY	NACE 4617 - Agents involved in the sale of food, beverages and tobacco; NACE 4641 - Wholesale of textiles;
PRINCIPAL	Saad Ibrahim					Workforce
	Managing Director					5
LEGAL INFO	Date Of Est.		Reg. No.	Legal Form			Status
	13/12/2007		604252	LLC			Active
CAPITAL	CURRENCY			AMOUNT
	AED			300,000

IDENTIFICATION
CO. NAME	EXCOM GENERAL TRADING LLC
BUILDING	Lootah Building, Office 8
STREET	Al Souq Al Kabir Street
AREA	Bur Dubai, Near Koki Restaurant
POSTAL ADDRESS	46279 Dubai
CITY	Dubai
COUNTRY	United Arab Emirates
PHONE	(+971 55) 882 8701 / (+971 4) 234 7440 (currently out of service) / (+971 4) 354 0042 (currently out of service)
FAX	(+971 4) 234 7441 (currently out of service)
VERIFIED EMAIL	ardalkayal@gmail.com
BUSINESS HOURS	DAYS	OFFICE HOURS	BREAK TIME
	Sun-Thu	09:00-19:00	13:00-15:00
REGISTERED ADDRESS	Property owned by Sultan Ahmed Mohd Lootah Building, Office No. 8 Bur Dubai PO Box: 46279 Dubai

SENIOR PERSONNEL
MANAGEMENT	NAME	POSITION
	Saad Ibrahim	Managing Director
WORKFORCE	NO. OF EMPLOYEES	PERIOD
	5	06.2018

FINANCIAL SUMMARY
NOTES	Private companies in UAE are not required to publish or disclose balance sheets. Balance sheets are not available from other sources, and the subject interviewed declined to give any financial information, which the company regards as strictly confidential.

LEGAL STATUS
INCORPORATION	13/12/2007
REGISTRATION NO.	C.R. NUMBER	ISSUED BY
	Trade License No.: 604252 (expiry date: 12/12/2018)	Dubai Department of Economic Development
OTHER REGISTRATION NO.	Federal Reservation No.: 10844425
AUTHORISED CAPITAL	AMOUNT	CURRENCY
	300,000	AED
PAID-UP CAPITAL	AMOUNT	CURRENCY
	300,000	AED
BUSINESS HISTORY	The Company was incorporated in Dubai on 13 December 2007.
LEGAL FORM	Limited Liability Company
STATUS	Active
SHAREHOLDERS	NAME	PERCENTAGE
	1. Saad Ibrahim } } 2. Other undisclosed shareholders } 3. Undisclosed local Emirati sponsor * The local sponsor, according to UAE laws must hold a minimum of 51% of the capital, however, in practice and unofficially the sponsor gets a fixed annual percentage of the profit and a sponsorship fee without any investment in the company.	49.00% 51.00%

OPERATION
BANKERS	Subject declined to name its bankers details.
ACTIVITY CODE (NACE)	4617 - Agents involved in the sale of food, beverages and tobacco; 4641 - Wholesale of textiles;
LINE OF BUSINESS	Trading as importers and wholesalers of foodstuff as well as textile products.
IMPORT FROM	Far East and South East Asian countries.
EXPORT TO	Pakistan and occasionally to GCC and African countries.
FACILITIES	Leased premises comprising administrative offices located at the heading address.

PAYMENT RECORDS
CREDIT OPINION	We consider it is acceptable to deal with subject for SMALL amounts.

SPECIAL REMARKS
INTERVIEWED	Saad Ibrahim (Managing Director).

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 68.15
UK Pound	1	INR 90.27
Euro	1	INR 79.35
UAE Dh	1	INR 18.56

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	NIS
Report Prepared by :	SYL

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
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

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.