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Report Date : |
06.11.2012 |
IDENTIFICATION DETAILS
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Name : |
STERLING METALS FZE |
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Registered Office : |
Ras Al Khaimah Free Zone, Ras Al Khaimah |
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Country : |
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Date of Incorporation : |
13.06.2012 |
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Legal Form : |
Free Zone Establishment |
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Line of Business : |
Distributors of diamonds,
jewellery and gold |
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No. of Employees : |
01 employee |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
---- |
NB |
New Business |
---- |
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Status : |
New Business |
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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 |
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High |
B2 |
|
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 :
Country of Origin :
Legal Form : Free Zone Establishment - FZE
Registration Date : 13th June 2012
Trade Licence Number : 5007684, RAK Free Zone
Issued Capital : UAE Dh 500,000
Paid up Capital : UAE Dh 500,000
Total Workforce : 1
Activities : Distributors of diamonds, jewellery and gold
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : Vishal Gupta, General Manager
STERLING METALS FZE
Registered Address
Town : Ras Al Khaimah
Country :
Physical Address
Location : 39E Al Mas Tower,
PO Box : 16096
Town :
Country :
Telephone : (971-4) 4468604
Facsimile : (971-4)
Email : sterlingmetalfze@gmail.com
Premises
Subject operates from
a small suite of offices that are rented and located in the Central Business
Area of Dubai.
Name Position
·
Vishal
Gupta General
Manager
Date of Establishment : 13th
June 2012
Legal Form :
Free Zone Establishment -
FZE
Trade Licence No. : 5007684,
RAK Free Zone
Issued Capital : UAE Dh 500,000
Paid up Capital : UAE Dh 500,000
Name of Shareholder
(s) Percentage
·
K V S V
Holdings Ltd 100%
Jebel Ali Free Zone
Activities: Engaged in the import and distribution of
diamonds, jewellery and gold.
Import
Countries: Europe and the
Subject has a
workforce of 1 employee.
Subject is a newly
formed business and as a result financial information is not currently
available.
·
Bank of
PO Box: 3162
Tel: (971-4) 5531955
Fax: (971-4) 5536962
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.54.08 |
|
|
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 |
|
---- |
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.