MIRA INFORM REPORT

 

 

Report Date :           

04.05.2011

 

IDENTIFICATION DETAILS

 

Name :

NAMAN TRADING FZE

 

 

Registered Office :

Khalid Al Attar Tower, 4th Floor, Office No. 402B, Sheikh Zayed Road, Trade Center, Near Crown Plaza Hotel, P.O.Box No. 7244 / 16111 (Ras Al Khaimah) Dubai

 

 

Country :

United Arab Emirates 

 

 

Date of Incorporation :

12.06.2006

 

 

Legal Form :

Free Zone Establishment

 

 

Line of Business :

importers and exporters of rough and polished diamonds, jewellery, gold jewellery and precious stones

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

Dh 50,000

Status :

Small Company 

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 – December 31, 2010

 

Country Name

Previous Rating

                   (30.09.2010)                  

Current Rating

(31.12.2010)

United Arab Emirates 

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company NAME 

 

Naman Trading FZE

 

 

company ADDRESS

 

Area                 : Khalid Al Attar Tower, 4th Floor, Office No. 402B

Street               : Sheikh Zayed Road

Area                 : Trade Center, Near Crown Plaza Hotel

P.O.Box No.      : 7244 / 16111 (Ras Al Khaimah)

Town                 : Dubai

Country             : United Arab Emirates

Telephone         : (971 4) 331 2348 / Mobile (971 50) 798 3556 (Sindhu Anand)

Fax                   : (971 4) 332 7461 / 332 7496

E-Mail               : anand@calus-me.com / sunnysaraiya_99@yahoo.com

Website            : www.calus-me.com

 

 

SENIOR COMPANY PERSONNEL

 

   Name                       Position

 

1. Parjank Shah               Owner

 

2. Sindhu Anand               General Manager

 

3. Sunny Saraiya              Chief Accountant

 

Total Employees : 3

 

 

PAYMENTS

 

No complaints have been heard regarding payments from local suppliers or banks.

 

We consider it is acceptable to deal with subject for SMALL amounts, however in view of the lack of financial information we recommend international suppliers exercise a degree of caution.

 

Opinion on maximum credit : Dh 50,000 (higher amounts may be

                            considered with full fiscal disclosure)

 

Trade risk assessment: Normal

 

 

PRINCIPAL BANKERS

 

NAME     : STANDARD CHARTERED BANK

Branch   : Al Fardan Building, Al Mankhool Road

P.O. Box : 999

Town     : Dubai

Telephone: (971 4) 352 0455

Fax      : (971 4) 352 6679

 

The company also has an account with:

 

Barclays Bank Plc

Main Branch

PO Box 1891

Dubai

Telephone: (971 4) 335 1555

Fax      : (971 4) 336 6700

 

 

FINANCIAL INFORMATION

 

Private companies in United Arab Emirates 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.

 

Financial year ends 31 December.

 

 

LEGAL STATUS AND HISTORY

 

Date Started : 12 June 2006

 

History : Subject is registered in Ras Al Khaimah Free Zone, but maintains it administrative offices in Dubai.

 

Trade Licence No. : 500218 (expiry date: 18 August 2011)

 

Capital : not given

 

Free Zone Establishment (single shareholder Limited Liability Company) with the following sole shareholder :

 

Parjank Shah                                100%

(Indian national)

 

* According to Emiree Decree No. 6/2006 governing the establishment of companies in Ras Al Khaimah Free Zone (RAK), foreign companies are allowed to set up separate legal entities referred to as Free Zone Establishments (FZEs) having all features of a Private Limited Liability Company. The FZE can be either owned by a foreign individual or a corporate body. Its liability is determined

by the amount of paid-up capital, which must be at least Dh 100,000. An International Company with limited liability can also be formed with a minimum of one shareholder, one director and one secretary. The capital structure can be decided by the shareholder(s).

 

Affiliated company of Naman Trading FZE:

 

Associateb

 

Calculus Management Consultancy

Khalid Al Attar Tower, Office No. 402B, 4th Floor

Sheikh Zayed Road

Trade Centre 1, Near Crown Plaza Hotel

PO Box 72441

Dubai

Telephone : (971 4) 331 2348

 

 

ACTIVITIES

 

The Company is involved in the following activities :

 

Trading as importers and exporters of rough and polished diamonds, jewellery, gold jewellery and precious stones.

 

NACE Code : 4648

 

Imports from Belgium and UK.

 

Exports to Hong Kong and USA.

 

 

FACILITIES

 

The Company has the following facilities :

 

Rented premises comprising administrative office located at the heading address.

 

Subject is registered in Ras Al Khaimah Free Zone but maintains its administrative offices in Dubai.

 

 

SPECIAL NOTE

 

Interviewed: Sunny Saraiya (Chief Accountant).

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.34

UK Pound

1

Rs.73.70

Euro

1

Rs.65.75

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

----

NB

New Business

----

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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