MIRA INFORM
REPORT
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Report Date : |
03.05.2012 |
IDENTIFICATION DETAILS
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Name : |
PARADIGM PIONEERS FZ LLC |
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Registered Office : |
Executive Desk
No. 6, Block No. 9, Ground Floor, |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
24.05.2004 |
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Legal Form : |
Free Zone Company |
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Line of Business : |
Providers of human resources training and development services |
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No. of Employees : |
07 |
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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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 : PARADIGM PIONEERS FZ LLC
Country of Origin :
Legal Form : Free Zone Company – FZ LLC
Registration Date : 24th May 2004
Trade Licence Number : 18172
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 7
Activities : Providers of human resources training and development services.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Dr Mohamed Tareq, Managing Director
PARADIGM PIONEERS
FZ LLC
Registered &
Physical Address
Location : Executive Desk No. 6, Block No. 9, Ground Floor,
PO Box : 62612
Town :
Country :
Telephone : (971-4) 3671631
Facsimile : (971-4) 3672857
Email : mancons@eim.ae
Premises
Subject operates from
a small suite of offices that are rented and located in the Central Business
Area of Dubai.
Branch Office
(s)
Location Description
·
Sharjah
Tel: (971-6) 5688683
Fax: (971-6) 5688684
·
Hamriyah
Free Zone Office
premises
Sharjah
Tel: (971-6) 5262276
Fax: (971-6) 5262278
Name Nationality Position
·
Dr
Mohamed Tareq Indian Managing
Director
·
Darshen
Parekh
- Financial
Controller
·
Kathreen
Omenta - Administration
Executive
Date of Establishment : 24th
May 2004
Legal Form :
Free Zone Company – FZ LLC
Trade Licence No. : 18172
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder
(s) Percentage
·
Dr
Mohamed Tareq 100%
·
Sharjah
Tel: (971-6) 5688683
Fax: (971-6) 5688684
·
Access
Auditing & Accounting
Sharjah
·
Environmental
Solution & Construction
Sharjah
Activities: Engaged in the provision of human resources
training, development services and EPC contract resources management.
Subject has current
contracts with Al Khaleej (SW) Osmosis and the UAE Government for the provision
of EPC contracting services.
Operating Trend: Steady
Subject has a
workforce of 7 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
25,400,000 UAE Dh
27,000,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Dr Mohamed
Tareq, Managing Director
·
National
Bank of
PO Box: 777
Tel: (971-4) 2222241
·
Bank of
PO Box: 1671
Sharjah
Tel: (971-6) 5684231
·
Habib
Bank AG
Immigration Road
PO Box: 1166
Sharjah
Tel: (971-6) 5730004
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.93 |
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|
1 |
Rs.85.85 |
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Euro |
1 |
Rs.69.94 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.