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Report Date : |
26.10.2012 |
IDENTIFICATION DETAILS
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Name : |
SRV GLOBAL FZC |
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Registered Office : |
Saif Zone, |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
19.02.2011 |
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Legal Form : |
Free Zone Company |
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Line of Business : |
Distributors of pine chemicals, petrochemicals, bulk chemicals, fertilizers, textile dyes and paper scraps. |
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No. of Employees : |
06 employees |
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 : SRV GLOBAL FZC
Country of Origin :
Legal Form : Free Zone Company - FZC
Registration Date : 19th February 2011
Trade Licence Number : 09272, Saif Zone
Issued Capital : UAE Dh 500,000
Paid up Capital : UAE Dh 500,000
Total Workforce : 6
Activities : Distributors of pine chemicals, petrochemicals, bulk chemicals,
fertilizers, textile dyes and paper scraps.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Person Interviewed : R K Verma, General Manager
SRV GLOBAL FZC
Registered &
Physical Address
Location : Saif Zone
PO Box : 121677
Town : Sharjah
Country :
Telephone : (971-6) 5529707
Facsimile : (971-6) 5529707
Email : info@srvglobal.net / srvglobalfzc@gmail.com
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Saif Zone Area of Sharjah.
Name Position
·
Anil
Kumar Manoharlal Managing
Director
·
Mankshant
Okrah Rotherd Director
·
R K Verma General
Manager
Date of Establishment : 19th
February 2011
Legal Form :
Free Zone Company - FZC
Trade Licence No. : 09272,
Saif Zone
Issued Capital : UAE Dh 500,000
Paid up Capital : UAE Dh 500,000
Name of
Shareholder (s)
·
Anil
Kumar Manoharlal
·
Mankshant
Okrah Rotherd
Activities: Engaged in the import and distribution of
pine chemicals, petrochemicals, bulk chemicals, fertilizers, textile dyes and paper scraps.
Import
Countries: Europe and the
Subject has a
workforce of 6 employees.
Financial
highlights provided by local sources are given below:
Currency:
Period
Ending 31/12/11:
Total Sales UAE
Dh 10,000,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr R K Verma, General
Manager
·
Standard
Chartered Bank
PO Box: 5
Sharjah
Tel: (971-6) 5357788
Fax: (971-6) 5543604
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
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.53.63 |
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|
1 |
Rs.86.18 |
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Euro |
1 |
Rs.69.75 |
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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.