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Report Date : |
09.11.2012 |
IDENTIFICATION DETAILS
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Name : |
TRACON GENERAL TRADING FZE |
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Registered Office : |
Office No. E-2
106 G-16, Hamriyah Free Zone, |
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Country : |
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Date of Incorporation : |
09.02.2010 |
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Legal Form : |
Free Zone Establishment |
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Line of Business : |
Distributors of agricultural commodities, iron and steel |
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No. of Employees : |
01 employee |
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
|
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 : TRACON GENERAL TRADING FZE
Country of Origin :
Legal Form : Free Zone Establishment - FZE
Registration Date : 9th February 2010
Trade Licence Number : 6006
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Total Workforce : 1
Activities : Distributors of agricultural commodities, iron and steel.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : Biju Karuthadath Vikraman, Managing Director
TRACON GENERAL
TRADING FZE
Registered &
Physical Address
Building : Office No. E-2 106 G-16
Area : Hamriyah Free Zone
PO Box : 52061
Town : Sharjah
Country :
Email : biju@tracongeneraltrading.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Hamriyah Free
Zone Area of Sharjah.
Name Nationality Position
·
Biju
Karuthadath Vikraman Indian Managing
Director
Date of Establishment : 9th
February 2010
Legal Form :
Free Zone Establishment -
FZE
Trade Licence No. : 6006
(Expires 08/02/2013)
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Name of Shareholder
(s) Percentage
·
Biju
Karuthadath Vikraman 100%
·
Tracon General Trading LLC
PO Box: 46006
Activities: Engaged in the import and distribution of
agricultural commodities, including soya beans, wheat and
maize. Subject also imports and
distributes iron and steel.
Import Countries: Europe and the
Subject has a
workforce of 1 employee.
Companies
registered in
·
Emirates
NBD Ltd
Immigration Road
PO Box: 25090
Sharjah
Tel: (971-6) 5733300
Fax: (971-6) 5730077
Acc No. 1024530064602
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.54.44 |
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|
1 |
Rs.87.00 |
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Euro |
1 |
Rs.69.43 |
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 |
|
<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.