MIRA INFORM REPORT

Report No. :	510915
Report Date :	25.05.2018

IDENTIFICATION DETAILS

Name :	EXCELLENT CITY GENERAL TRADING L.L.C.
Registered Office :	Office No. 1604, 24 Street, Al Sabkha, Deira, Murshid Bazar Area, 42468 Dubai
Country :	United Arab Emirates
Financials (as on) :	31.12.2017
Date of Incorporation :	17.02.2001
Com. Reg. No.:	524458
Legal Form :	Limited Liability Company
Line of Business :	Trading as importers, distributors and wholesalers of automobile spare parts, electronics and household goods.
No. of Employees :	14

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 :	No Complaints
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 (30.09.2017)	Current Rating (31.12.2017)
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	EXCELLENT CITY GENERAL TRADING L.L.C.
ADDRESS	Building	Street			Area			PO Box
	Al Owais Business Tower, 16^th Floor, Office 1604	24 Street			Al Sabkha, Deira, Murshid Bazar Area			42468 Dubai
TEL/FAX	Verified Phones: (+971 4) 226 0027 / (+971 4) 273 7823 / Fax: (+971 4) 273 7923
EMAIL/WEBSITE	Email: kaiflai23@yahoo.com / arvand@emirates.net.ae / Website: N/A
ACTIVITY	NACE 4649 - Wholesale of electrical household appliances; NACE 4532 - Retail trade of motor vehicle parts and accessories;
PRINCIPAL	Kaif Ali Sunasira					Workforce
	Managing Director					14
LEGAL INFO	Date Of Est.		Reg. No.	Legal Form			Status
	17/02/2001		524458	LLC			Active
CAPITAL	CURRENCY			AMOUNT
	AED			300,000

IDENTIFICATION
CO. NAME	EXCELLENT CITY GENERAL TRADING L.L.C.
BUILDING	Al Owais Business Tower, 16^th Floor, Office 1604
STREET	24 Street
AREA	Al Sabkha, Deira, Murshid Bazar Area
POSTAL ADDRESS	42468 Dubai
CITY	Dubai
COUNTRY	United Arab Emirates
TELEPHONE	(+971 4) 273 7823 / (+971 4) 226 0027 / Mobile (+971 55) 115 1082
FAX	(+971 4) 273 7923
VERIFIED EMAIL	kaiflai23@yahoo.com / arvand@emirates.net.ae
BUSINESS HOURS (DURING RAMADAN)	DAYS	OFFICE HOURS	BREAK TIME
	Sun-Thu	09:00-15:00	Without Break
REGISTERED ADDRESS	Office No. 1604, 24 Street, Al Sabkha, Deira, Murshid Bazar Area, 42468 Dubai, United Arab Emirates

SENIOR PERSONNEL
MANAGEMENT	NAME	POSITION
	Kaif Ali Sunasira	Managing Director
WORKFORCE	NO. OF EMPLOYEES	PERIOD
	14	05.2018

FINANCIAL SUMMARY
REVENUE	31/12/2017	31/12/2018 (Projected)
	AED 38,000,000	AED 40,000,000
NET PROFIT / (LOSS)	Not given but stated to be profitable
FISCAL YEAR-END	31 December

LEGAL STATUS
INCORPORATION	17/02/2001
REGISTRATION NO.	C.R. NUMBER	ISSUED BY
	Trade License No.: 524458 (expiry date: 16/02/2019)	Dubai Department of Economic Development
OTHER REGISTRATION NO.	Federal Reservation No.: 10805163
AUTHORISED CAPITAL	AMOUNT	CURRENCY
	300,000	AED
PAID-UP CAPITAL	AMOUNT	CURRENCY
	300,000	AED
BUSINESS HISTORY	The Company was incorporated in Dubai on 17 February 2001.
LEGAL FORM	Limited Liability Company
STATUS	Active
SHAREHOLDERS	NAME	PERCENTAGE
	1. Kaif Ali Sunasira Nationality: Indian 2. Mohammed Rassul L. * 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.	49.00% 51.00%

OPERATION
BANKERS	1. Abu Dhabi Islamic Bank (ADIB) Oud Metha, Bur Dubai Against the U.S. hospital PO Box: 46000 Dubai Telephone: (+971 4) 295 5633 2. Noor Bank (formerly Noor Islamic Bank) Building 1, Level 8, Emaar Square, Downtown PO Box 8822 Dubai United Arab Emirates Telephone: (+971 4) 427 4343 3. Commercial Bank of Dubai Al Mankool Street PO Box 2668 Dubai Telephone: (+971 4) 352 3355 Fax : (+971 4) 352 0444
ACTIVITY CODE (NACE)	4649 - Wholesale of electrical household appliances; 4532 - Retail trade of motor vehicle parts and accessories;
LINE OF BUSINESS	Trading as importers, distributors and wholesalers of automobile spare parts, electronics and household goods.
IMPORT FROM	Europe and Far East Asian countries.
EXPORT TO	GCC countries.
FACILITIES	Leased premises comprising administrative offices located at the heading address.
RELATED COMPANIES	Associate Arvand International General Trading (L.L.C) Office No. 1604, 24 Street, Al Sabkha, Deira, Murshid Bazar Area PO Box 42468 Dubai United Arab Emirates Telephone: (+971 4) 226 0027 Est.: 30/07/2001 Trade License No.: 528204 (expiry date: 29/07/2018)

PAYMENT RECORDS
FINANCIAL STRENGTH	Normal
EMPLOYEE RANGE	ER6

SPECIAL REMARKS
INTERVIEWED	Kaif Ali Sunasira (Managing Director).
COMMENTS	The Email address which you provided: info@excellentcitygeneral.com is currently not active (invalid).

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 68.39
UK Pound	1	INR 91.44
Euro	1	INR 80.14
UAE Dh	1	INR 18.46

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

INFORMATION DETAILS

Analysis Done by :	PRI
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.