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Report Date : |
06.10.2012 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Kuwaitat Area,
1818 Al Ain |
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Country : |
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Date of Incorporation : |
10.02.2001 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Owners and
operators of Al Ain Center Mall |
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No. of Employees : |
65 |
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 |
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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 |
|
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 :
Country of Origin : Al Ain,
Legal Form :
Limited Liability Company
Registration Date : 10th
February 2001
Trade Licence
Number : 18502
Chamber Membership
Number : 60695
Issued Capital : UAE Dh
100,000,000
Paid up Capital : UAE Dh
100,000,000
Total Workforce : 65
Activities :
Owners and operators of Al Ain Center Mall
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
Location : Kuwaitat Area
PO Box : 1818
Town : Al Ain
Country :
Telephone : (971-3) 7660333
Facsimile : (971-3) 7663444
Email : info@alainmall.net
Subject operates from
a medium sized suite of offices and a shopping mall that are rented and located
in the Central Business Area of Al Ain.
Name Position
·
Murhaf
Kishe General
Manager
·
Mohamed
Hamam Business
Development Manager
·
Hussain
Arrab Finance
Manager
Date of Establishment : 10th
February 2001
Legal Form :
Limited Liability Company
Trade Licence No. : 18502
(Expires 07/05/2013)
Chamber Member No. : 60695
Issued Capital : UAE Dh 100,000,000
Paid up Capital : UAE Dh 100,000,000
Name of Shareholder (s) Percentage
·
Al
Fareeda Investment Co LLC 100%
Al Ain
Activities: Engaged as owners and operators of Al Ain
Center Mall.
Located in the heart of Al Ain city, Al Ain Mall is a distinctive landmark which consists of 3 levels, containing over 175 outlets. The state of art mall is the residence of numerous leading fashion icons, department stores, jewellers, gift shops and furniture showrooms. It also has entertainment facilities such as a 4 screen cinema multiplex, an ice rink, a family amusement centre, 12 lane bowling city, a spacious food court in addition to a wide selection of restaurants and cafés.
Subject has a
workforce of 65 employees.
Companies
registered in Al Ain are not legally required to make their accounts public and
no financial information was released by the company or submitted by outside
sources.
·
Abu
Dhabi Commercial Bank
Main Branch
PO Box: 15180
Al Ain
Tel: (971-3) 7660000
Fax: (971-3) 7511455
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.51.61 |
|
|
1 |
Rs.83.57 |
|
Euro |
1 |
Rs.67.17 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.