|
Report Date : |
01.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
MAX HOLDINGS
& INVESTMENTS LTD |
|
|
|
|
Registered Office : |
Jebel Ali Free
Zone, Plot No. S11303, 17155 & 113630 |
|
|
|
|
Country : |
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|
|
|
|
Date of Incorporation : |
17.08.2004 |
|
|
|
|
Legal Form : |
Branch of a
Foreign Registered Corporation |
|
|
|
|
Line of Business : |
Distributors of
ready made garments and fashion accessories. |
|
|
|
|
No. of Employees : |
15 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No complaints |
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|
|
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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 |
|
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 : MAX HOLDINGS & INVESTMENTS LTD
Country of Origin :
Legal Form :
Branch of a Foreign Registered Corporation
Registration Date : 17th
August 2004
Trade Licence
Number : 4936
Chamber Membership
Number : 88746
Total Workforce : 15
Activities :
Distributors of ready made garments and fashion accessories.
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed : Mansour Ali,
Finance Manager
MAX HOLDINGS &
INVESTMENTS LTD
Registered &
Physical Address
Street :
Area : Jebel Ali Free Zone, Plot No.
S11303
PO Box : 17155 & 113630
Town :
Country :
Telephone : (971-4) 8095800 / 8817164
Facsimile : (971-4) 8095868 / 8815170
Email : barry.masterson@cplmg.com
/ sanjeev.matharu@cplmg.com
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Jebel Ali Free Zone.
Name Nationality Position
·
Ramanathan
Hariharan Krishnan Indian Chief
Executive Officer
·
Shiram Gopal Krishnan Indian General Manager
·
Sanjeev Matharu - Assistant
General Manager
·
Barry Masterson - Operations
Manager
·
Mansour Ali - Finance
Manager
Date of Establishment : 17th
August 2004
Legal Form :
Subject is the United Arab
Emirates registered branch of Max Holdings & Investments Ltd, a Limited
Liability Company incorporated in the
Trade Licence No. : 4936
(Expires 17/08/2013)
Chamber Member No. : 88746
·
RNA Resources Group Ltd (Land Mark Group)
PO Box: 25030
Tel: (971-4)
3365143 / 3395111
Fax: (971-4)
3378675
Activities: Engaged in the import and distribution of ready
made garments and fashion accessories.
Import
Countries: Europe and the
Subject has a
workforce of 15 employees.
Companies
registered in
·
Standard
Chartered Bank
PO Box: 999
Tel:
(971-4) 2520455
·
HSBC
Bank
Deira Souk Branch
PO Box: 66
Tel: (971-4) 2535000
No complaints
regarding subject’s payments have been reported.
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.12 |
|
|
1 |
Rs.87.08 |
|
Euro |
1 |
Rs.70.15 |
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 |
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.