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Report Date : |
06.11.2012 |
IDENTIFICATION DETAILS
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Name : |
J J TRADING FZE |
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Registered Office : |
Hamriyah Free
Zone, E LOB Office No. E92G-27, |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
25.12.2008 |
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Legal Form : |
Free Zone Establishment |
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Line of Business : |
Distributors of scrap, ferrous and non-ferrous metals |
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No. of Employees : |
02 employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
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 : |
Good |
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Payment Behaviour : |
Regular |
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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) |
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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 |
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 : J J TRADING FZE
Country of Origin :
Legal Form : Free Zone Establishment - FZE
Registration Date : 25th December 2008
Trade Licence Number : 4766
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Total Workforce : 2
Activities : Distributors of scrap, ferrous and non-ferrous metals.
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Siva Kumar, General Manager
J J TRADING FZE
Registered Address
Location : Hamriyah Free Zone, E LOB Office
No. E92G-27
PO Box : 51016
Town : Sharjah
Country :
Physical Address
Location : Al Fasheel Area
PO Box : 7359
Town :
Country :
Telephone : (971-9) 2282169
Facsimile : (971-9) 2282170
Email : ramratangagati@yahoo.com / ramratangagat@gmail.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Fujairah.
Name Nationality Position
·
Ramratan
Gagati Indian Managing Director
·
Siva
Kumar - General
Manager
Date of Establishment : 25th
December 2008
Legal Form :
Free Zone Establishment -
FZE
Trade Licence No. : 4766 (Expires 24/12/2012)
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Name of Shareholder
(s) Percentage
·
Ramratan
Gagati 100%
Activities: Engaged in the import
and distribution of scrap, ferrous and non-ferrous metals.
Import
Countries: Europe and the
Operating Trend: Steady
Subject has a
workforce of 2 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
94,500,000 UAE Dh
100,000,000
Local sources
consider subject’s financial condition to be Good.
The above figures were
provided by Mr Siva Kumar, General Manager
·
Mashreq
Bank Plc
Foreign Trade Centre
PO Box: 9271
Sharjah
Tel: (971-6) 5351366 / 5354873
Fax: (971-6) 5372903
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.08 |
|
|
1 |
Rs.86.69 |
|
Euro |
1 |
Rs.69.37 |
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 |
|
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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.