MIRA INFORM REPORT

Report No. :	516307
Report Date :	26.06.2018

IDENTIFICATION DETAILS

Name :	OSR GENERAL TRADING CO. LLC
Registered Office :	Property owned by Abdulrahim Abdullah Al Zarooni Building, Al Ras Area, Deira, PO Box: 125817, Dubai
Country :	United Arab Emirates
Financials (as on) :	31.12.2017
Date of Incorporation :	09.12.2014
Com. Reg. No.:	722268
Legal Form :	Limited Liability Company
Line of Business :	Trading as importers, retailers and wholesalers of kitchenware, stainless steel utensils, cutlery items and tableware.
No. of Employees :	8

RATING & COMMENTS

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

MIRA’s Rating :

A

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

Status :	Satisfactory
Payment Behaviour :	Slow but correct
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

BRIEF SUMMARY
COMPANY NAME	OSR GENERAL TRADING CO. LLC
ADDRESS	Building	Area			City			PO Box
	Al Zarooni Building, Shop No. 6	Al Ras Market, Near Choitram Supermarket, Deira			Dubai			125817 Dubai
TEL/FAX	Verified Phones: (+971 4) 288 4868 / Fax: (+971 4) 425 3089
EMAIL/WEBSITE	Email: osrsteel@yahoo.com / Website: N/A
ACTIVITY	NACE 4690 - Non-specialised wholesale trade; NACE 4759 - Retail sale of furniture, lighting equipment and other household articles in specialised stores;
PRINCIPAL	Sangeeta Aggarwal					Workforce
	Managing Director					8
LEGAL INFO	Date Of Est.		Reg. No.	Legal Form			Status
	09/12/2014		722268	LLC			Active
CAPITAL	CURRENCY			AMOUNT
	AED			300,000

IDENTIFICATION
CO. NAME	OSR GENERAL TRADING CO. LLC
ENQUIRED NAME	OSR GENERAL TRADING CO
BUILDING	Al Zarooni Building, Shop No. 6
AREA	Al Ras Market, Near Choitram Supermarket, Deira
POSTAL ADDRESS	125817 Dubai
CITY	Dubai
COUNTRY	United Arab Emirates
TELEPHONE	(+971 4) 288 4868 / Mobiles (+971 55) 841 1688 / (+971 55) 369 3274
FAX	(+971 4) 425 3089
VERIFIED EMAIL	osrsteel@yahoo.com
BUSINESS HOURS	DAYS	OFFICE HOURS	BREAK TIME
	Sun-Thu	09:00-21:00	13:00-16:00
REGISTERED ADDRESS	Property owned by Abdulrahim Abdullah Al Zarooni Building Al Ras Area, Deira PO Box: 125817 Dubai Telephone: (+971 4) 425 3088

SENIOR PERSONNEL
MANAGEMENT	NAME	POSITION
	Ms. Sangeeta Aggarwal	Managing Director
	Vinit Aggarwal	Accounts Manager
WORKFORCE	NO. OF EMPLOYEES	PERIOD
	8	06.2018

FINANCIAL SUMMARY
TURNOVER	31/12/2017	31/12/2018 (Projected)
	AED 13,500,000	AED 12,000,000
NET PROFIT / (LOSS)	Not given but stated to be profitable
STOCK/INVENTORIES	AED 800,000 as of June 2018
FISCAL YEAR-END	31 December.

LEGAL STATUS
INCORPORATION	09/12/2014
REGISTRATION NO.	C.R. NUMBER	ISSUED BY
	Trade License No.: 722268 (expiry date: 08/12/2018)	Dubai Department of Economic Development
OTHER REGISTRATION NO.	Federal Reservation No.: 10916677
AUTHORISED CAPITAL	AMOUNT	CURRENCY
	300,000	AED
PAID-UP CAPITAL	AMOUNT	CURRENCY
	300,000	AED
BUSINESS HISTORY	The Company was incorporated in Dubai on 9 December 2014.
LEGAL FORM	Limited Liability Company
STATUS	Active
SHAREHOLDERS	NAME	PERCENTAGE
	1. Ms. Nidhi Lodha Nationality: Indian 2. Ms. Nirmala G. Nationality: Indian 3. Ms. Sangeeta Aggarwal Nationality: Indian 4. Raheel Qureshi * Nationality: Emirati * 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.	16.00% 16.00% 17.00% 51.00%

OPERATION
BANKERS	Mashreq Bank Omar Bin Al Khattab Street PO Box 1250 Deira Telephone: (+971 4) 424 4444 Fax : (+971 4) 222 3333
ACTIVITY CODE (NACE)	4690 - Non-specialised wholesale trade; 4759 - Retail sale of furniture, lighting equipment and other household articles in specialised stores;
LINE OF BUSINESS	Trading as importers, retailers and wholesalers of kitchenware, stainless steel utensils, cutlery items and tableware.
IMPORT FROM	India and China.
EXPORT TO	GCC and African countries.
TRADE REFERENCES	Nitin Kitchenware India Pvt. Ltd. Sativali, Udhyog Nagar, Behind New Blue chip, Bhumi Industreal Estate, Valiv Phata, Vasai(East), Near Mahendra Showroom, Vasai Maharashtra, 401208 India
FACILITIES	Rented premises comprising administrative offices and a showroom located at the heading address.

PAYMENT RECORDS
Payment Records	Slow but correct We consider it is acceptable to deal with subject.

SPECIAL REMARKS
INTERVIEWED	Vinit Aggarwal (Accounts Manager).
COMMENTS	You enquired on: OSR GENERAL TRADING CO. Please note that subject’s correct registered name is as per heading.

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 18.57

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

INFORMATION DETAILS

Analysis Done by :	PRA
Report Prepared by :	TPT

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.