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Report Date : |
04.09.2012 |
IDENTIFICATION DETAILS
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Name : |
AL INTISAR GENERAL TRADING EST |
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Registered Office : |
Abdullah Abdulaziz Al Zarooni
Building, 3rd Floor, Office No. 301 Al Suq
Al Kabeer Street Al Ras, Deira PO Box 703 Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
11.02.1988 |
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Com. Reg. No.: |
5306, Dubai |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors of general foodstuffs and beverages, electronic and electrical equipment |
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No. of Employees : |
6 |
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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 – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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UAE |
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 |
UAE - 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 Washington and in November 2004 agreed to undertake negotiations
toward a Free Trade Agreement with the US, however, those talks have not moved
forward. The country's Free Trade Zones - offering 100% foreign ownership and
zero taxes - are helping to attract foreign investors. The global financial
crisis, tight international credit, and deflated asset prices constricted the
economy in 2009. UAE authorities tried to blunt the crisis by increasing
spending and boosting liquidity in the banking sector. The crisis hit Dubai
hardest, as it was heavily exposed to depressed real estate prices. Dubai
lacked sufficient cash to meet its debt obligations, prompting global concern
about its solvency. The UAE Central Bank and Abu Dhabi-based banks bought the
largest shares. In December 2009 Dubai received an additional $10 billion loan
from the emirate of Abu Dhabi. The economy is expected to continue a slow
rebound. Dependence on oil, a large expatriate workforce, and growing inflation
pressures are significant long-term challenges. The UAE''s
strategic plan for the next few years focuses on diversification and creating
more opportunities for nationals through improved education and increased
private sector employment.
Source
: CIA
Company Name : AL INTISAR GENERAL TRADING EST
Country of Origin : Dubai, United Arab Emirates
Legal Form : Sole Proprietorship
Registration Date : 11th February 1988
Commercial Registration Number : 5306, Dubai
Trade Licence Number : 205129
Chamber Membership Number : 6418
Invested Capital : UAE Dh 3,000,000
Total Workforce : 6
Activities : Distributors of general foodstuffs and beverages, electronic and electrical equipment.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
AL INTISAR GENERAL TRADING EST
Building : Abdullah Abdulaziz Al Zarooni Building, 3rd
Floor, Office No. 301
Street : Al Suq Al Kabeer Street
Area : Al Ras, Deira
PO Box : 703
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 2254862
/ 2263611 / 2263710
Facsimile : (971-4)
2266955
Email : victory@emirates.net.ae
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Dubai.
Name Position
·
Mohamed Reza Masih Al Ansari Proprietor
·
Farid Mohamed Reza Masih
Al Ansari General
Manager
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Majid Mohamed Reza Masih
Al Ansari Commercial
Manager
Date of
Establishment : 11th
February 1988
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 5306, Dubai
Trade Licence No. : 205129 (Expires
01/03/2013)
Chamber Member No. : 6418
Invested Capital : UAE Dh 3,000,000
Mr Mohamed Reza Masih
Al Ansari is the sole proprietor of the business.
Activities: Engaged in the import and distribution of general foodstuffs and
beverages, electronic and electrical
equipment.
Import Countries: Europe and the United States of America.
Subject has a workforce of 6 employees.
Companies registered in Dubai, United Arab Emirates are not legally
required to make their accounts public and no financial information was
released by the company or submitted by outside sources.
·
National Bank of Dubai
Baniyas Street
PO Box: 777
Dubai
Tel: (971-4) 2222241
·
Commercial Bank of Dubai
Mankhool Street
PO Box: 2668
Dubai
Tel: (971-4)
3523355
Fax: (971-4)
3527655 / 2524796
No complaints regarding subject’s payments have been reported.
Please note that we were unable to contact the subject directly during
our investigation.
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 |
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US Dollar |
1 |
Rs.55.45 |
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1 |
Rs.87.98 |
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Euro |
1 |
Rs.69.69 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 |
-- |
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.