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Report Date : |
11.09.2012 |
IDENTIFICATION DETAILS
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Name : |
NAR TECHNOLOGIES GENERAL TRADING LLC |
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Registered Office : |
Reef Tower, Suite
No. 1903, Jumeirah Lakes Towers, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
06.07.2008 |
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Com. Reg. No.: |
1031576, Dubai |
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Legal Form : |
Limited Liability
Company |
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Line of Business : |
Distributors of industrial server solutions, satellites, mobile computing, aperture terminal networking products, voice recording systems, wireless solutions, rapid prototyping and reverse engineering |
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No. of Employees : |
20 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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
United Arab
Emirates |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
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 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.
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Source : CIA |
Company Name : NAR TECHNOLOGIES GENERAL TRADING LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 6th July 2008
Commercial Registration Number : 1031576, Dubai
Trade Licence Number : 613340
Chamber Membership Number : 143350
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 20
Activities : Distributors of industrial server solutions, satellites, mobile computing,
aperture terminal networking products, voice recording systems,
wireless solutions, rapid prototyping and reverse engineering.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
NAR TECHNOLOGIES
GENERAL TRADING LLC
Registered &
Physical Address
Location : Reef Tower, Suite No. 1903,
Jumeirah Lakes Towers
Town : Dubai
Country : United Arab Emirates
PO Box : 122016
Telephone : (971-4) 4390443
Facsimile : (971-4) 4390442
Email : info@nartechnologies.ae
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Dubai.
Branch Offices
Location Description
·
Plot
No. 597/751, Building No. 2 Warehouse
premises
Dubai Investment Park
Dubai
Tel: (971-4) 3969936 / 8849969
Fax: (971-4) 3968411 / 8849163
Name Nationality Position
·
Shahid Rafiq
Mohamed Rafiq Pakistani Managing
Director
·
Saeed
Mohamed Tareq Pakistani Director
·
Lidya
Mohamed Fawzi Emirati Director
Date of Establishment : 6th
July 2008
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 1031576,
Dubai
Trade Licence No. : 613340
Chamber Member No. : 143350
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder
(s) Percentage
·
Lidya
Mohamed Fawzi 51%
·
Shahid
Rafiq Mohamed Rafiq 25%
·
Saeed
Mohamed Tareq 24%
Activities: Engaged in the import and distribution of
industrial server solutions, satellites, mobile computing,
aperture terminal networking products, voice recording systems, wireless
solutions, rapid prototyping
and reverse engineering.
Subject also provides equipment and support during the installation, service commissioning and
maintenance of the running services.
Import
Countries: Europe and the
Far East
Brand Names: ALFA, AIRCELL,
SINGTEL, TRANZEO, TELETRONICS, WILIGEAR, APC TECHNOLOGY, UBIQUITI and DVRS
Subject has a
workforce of 20 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.
·
Emirates
National Bank of Dubai
Baniyas Street
PO Box: 777
Dubai
Tel: (971-4) 2222241
No complaints
regarding subject’s payments have been reported.
We were unable to
make direct contact with the subject during the course of this investigation
and the above information is based on registered data.
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.55.34 |
|
UK Pound |
1 |
Rs.88.50 |
|
Euro |
1 |
Rs.70.74 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
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.