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Report Date : |
10.12.2012 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Shade No. 53, Al
Saniaya, |
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Country : |
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Date of Incorporation : |
11.08.2011 |
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Com. Reg. No.: |
41300 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors of general foodstuff products |
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No. of Employees : |
04 employees |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
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 based on oil and gas output to 25%. Since the
discovery of oil in the UAE more than 30 years ago, the UAE 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. In April 2004, the
UAE signed a Trade and Investment Framework Agreement with
|
Source : CIA |
Company Name :
Country of Origin :
Ras AL Khaimah,
Legal Form : Sole Proprietorship
Registration Date : 11th August 2011
Commercial Registration Number : 41300
Trade Licence Number : 35239
Invested Capital : UAE Dh 50,000
Total Workforce : 4
Activities : Distributors of general foodstuff products.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Registered &
Physical Address
Location : Shade No. 53, Al Saniaya
PO Box : 32907
Town : Ras Al Khaimah
Country :
Telephone : (971-7) 2286779
Facsimile : (971-7) 2286779
Premises
Subject operates
from a small suite of offices that are rented and located in the Industrial
Area of Ras Al Khaimah.
Name Nationality Position
·
Vikram Ramesh
Singh Indian Proprietor &
General Manager
·
Majed
Hassan Ali Jassim Al Baloushi Emirati Local Sponsor
Date of Establishment: 11th August 2011
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 41300
Trade Licence No. : 35239
Invested Capital
: UAE Dh 50,000
Mr Vikram Ramesh
Singh is the sole proprietor of the business.
Activities: Engaged in the import and distribution of
general foodstuff products.
Import
Countries: Europe and the
Subject has a
workforce of 4 employees.
Subject is a newly
formed business and as a result financial information is not currently
available.
·
National
Bank of Ras Al Khaimah
PO Box: 5300
Ras Al Khaimah
Tel: (971-7) 2221127
Fax: (971-7) 2224202
Acc No. 0031436818061
No complaints
regarding subject’s payments have been reported.
In view of
subject’s infancy, extensive payment and financial are not available, therefore
dealings are recommended to be on secured terms, and a close monitoring of
subject’s business development is advisable.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.20 |
|
|
1 |
Rs.86.99 |
|
Euro |
1 |
Rs.70.22 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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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 |
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.