MIRA INFORM
REPORT
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Report Date : |
27.04.2011 |
IDENTIFICATION DETAILS
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Name : |
TRACON GENERAL TRADING FZE |
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Registered Office : |
Building No. E-2-106G-16, Hamriyah Free Zone, (HFZA), P.O. Box 52061, Sharjah |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
09.02.2010 |
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Legal Form : |
Free Zone Establishment |
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Line of Business : |
General Trading |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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---- |
NB |
New Business |
---- |
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Status : |
New company |
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Payment
Behaviour : |
Unknown |
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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 – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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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 |
Company NAME
Tracon General
Trading FZE
company ADDRESS
Building : Building No. E-2-106G-16
Area : Hamriyah Free Zone, (HFZA)
P.O. Box : 52061
Town : Sharjah
Country : United Arab Emirates
Telephone : (971 55) 431 2392 (unobtainable / switched off)
E-Mail : tracongeneraltradingfze@gmail.com
PAYMENTS
No trade experience of payments is available.
Our sources could not contact the subject and obtain a direct
interview. According to our subject’s mobile phone number is
as follows : (971 55) 431 2392. This number is currently unobtainable
(switched off). No other telephone numbers are listed for the subject
at the local telephone directory. Several messages have been sent to
the above email address : tracongeneraltradingfze@gmail.com requesting a contact, however no reply has been received.
We believe that subject may be on a prolonged holiday or business
trip and has temporarily ceased trading, however we have been unable
to verify this with the company or third parties.
According to the local companies registry, subject is a newly
established company incorporated on 9 February 2010 and its position is shown as licence expired (not renewed).
Information in this report was obtained from the third party sources
only.
Opinion on maximum credit : As the company has recently started
trading and has no financial or payment
track record, we recommend dealing on
fully secured terms.
Trade risk assessment: No classification
PRINCIPAL BANKERS
Details of subject's bankers have not been learnt.
FINANCIAL INFORMATION
Balance sheets are not available. Financial information could not be obtained from third party sources.
LEGAL STATUS AND HISTORY
Date Started : 9 February 2010
Trade Licence No. : 6006 (expiry date: 8 February 2011)
Authorised Capital : Dh 150,000
Paid up Capital : Dh 150,000
Free Zone Establishment (single shareholder limited liability
company) with the following sole shareholder :
Prasanth Narayanan 100%
(Indian national)
* According to Hamriyah Free Zone Authority, which was established by
an Emiry decree in November 12, 1995, Free Zone Establishment (FZE)
incorporated in Hamriyah Free Zone is a single shareholder limited
liability company. A Free Zone Company (FZC) can have multiple
shareholders (maximum 5 shareholders) who can be either foreign
individuals or a corporate body. The minimum capital requirement for
incorporating a Free Zone Establishment (FZE) or Free zone Company
(FZC) is Dhs.150,000 (Approximately US$ 40,000).
ACTIVITIES
The Subject is involved in the following activities :
Registered activities: General trading.
FACILITIES
The Subject has the following facilities :
Registered office located at the heading address.
SPECIAL NOTE
Interviewed: Third party sources.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.59 |
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1 |
Rs.73.44 |
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Euro |
1 |
Rs.64.81 |
RATING EXPLANATIONS
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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 |
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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.