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Report Date : |
24.12.2012 |
IDENTIFICATION DETAILS
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Name : |
BLUE DEEBAJ FZCO |
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Registered Office : |
Plot No S40804 Jebel Ali Free
Zone |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
22.12.2008 |
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Legal Form : |
Free Zone Company - FZCO |
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Line of Business : |
Wholesalers and retailers of chemicals and fertilizers. |
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No. of Employees : |
6 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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
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Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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UAE |
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 |
UAE - 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 : BLUE DEEBAJ FZCO
Country of Origin :
Legal Form : Free Zone Company - FZCO
Registration Date : 22nd December 2008
Trade Licence Number : 111253
Chamber Membership Number : 161167
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Total Workforce : 6
Activities : Wholesalers and retailers of chemicals and fertilizers.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
BLUE DEEBAJ FZCO
Building : Plot No S40804
Area : Jebel Ali
Free Zone
PO Box : 262751
Town :
Country : United Arab Emirates
Telephone : (971-4) 2340481 / 2 / 3
Facsimile : (971-4) 2340414
Email : global_c@emirates.net.ae
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Jebel Ali Free Zone Area of Dubai.
Name Nationality Position
· Abdul Gani Sarfaraz
Yusuf Indian Managing Director
· Ajit Singh Rathore Indian Director
Date of
Establishment : 22nd
December 2008
Legal Form : Free Zone Company
- FZCO
Trade Licence No. : 111253
Chamber Member No. : 161167
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
· Abdul Gani Sarfaraz
Yusuf
· Ajit Singh Rathore
Activities: Engaged in the wholesale and retail of chemicals and fertilizers.
Import Countries: Europe and the
Operating Trend: Steady
Subject has a workforce of 6 employees.
Financial highlights provided by local sources are given below:
Currency:
Year
Ending 31/12/10: Year Ending
31/12/11:
Total Sales UAE
Dh 10,410,000 UAE
Dh 10,965,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
Standard Chartered Bank
PO Box: 999
Tel: (971-4)
2520455
No complaints regarding subject’s payments have been reported.
During the course of this investigation nothing detrimental was
uncovered regarding subject’s operating history or the manner in which payments
are fulfilled. As such the company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.55.08 |
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1 |
Rs.89.53 |
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Euro |
1 |
Rs.72.77 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.