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Report Date : |
30.10.2012 |
IDENTIFICATION DETAILS
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Name : |
COMSTOR MIDDLE EAST |
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Registered Office : |
Unit K06, Al Twar Road, Dubai Airport Free Zone, |
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Country : |
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Date of Incorporation : |
14.02.2007 |
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Legal Form : |
Branch of a Foreign Registered Corporation |
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Line of Business : |
Distributors of data networking and communication products |
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No. of Employees : |
12 employees |
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 |
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Status : |
Branch of a Foreign Registered Corporation |
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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 |
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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 : COMSTOR MIDDLE EAST
Country of Origin :
Legal Form : Branch of a Foreign Registered Corporation
Registration Date : 14th February 2007
Trade Licence Number : 1237
Chamber Membership Number : 118329
Total Workforce : 12
Activities : Distributors of data networking and communication products
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMSTOR MIDDLE EAST
Registered &
Physical Address
Building : Unit K06
Street :
Area :
PO Box : 293725
Town :
Country :
Telephone : (971-4) 2998860
Facsimile : (971-4) 2998870
Email : willem.de.haan@westcongroup.nl
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Dubai Airport Free Zone Area.
Name Position
·
·
Raiju
Ameer Sales
Manager
Date of Establishment : 14th
February 2007
Legal Form :
Subject is the United Arab
Emirates registered branch of Comstor Middle East Limited, a Limited Liability
Company incorporated in
Comstor Middle East in the
Registered Corporation
with its registered office located at the following address :
Comstor Middle East Limited
Meidoornkade 12
3992 AE Houten
A Branch of a Foreign
Registered Corporation is not a legal entity in its own
right. Responsibility for
payments lays in the hands of the company where it is
originally registered.
Under these circumstances, we strongly
advise that any international trade
credit should only be written
under the name of the main company where the
subject holds its registered
office, in this case the
Trade Licence No. : 1237
(Expires 13/02/2013)
Chamber Member No. : 118329
Activities: Engaged in the import and distribution of
data networking and communication products.
Import
Countries: Europe and the
Subject has a
workforce of 12 employees.
Companies
registered in
·
Union
National Bank
PO Box: 6811
Tel: (971-4) 2211188
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.53.81 |
|
|
1 |
Rs.86.52 |
|
Euro |
1 |
Rs.69.50 |
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 |
|
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.