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Report Date : |
11.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
UNITED ORGANIC PVT LTD (RAK FTZ BRANCH) |
|
|
|
|
Registered Office : |
Ras Al Khaimah Free
Trade Zone, |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
31.01.2011 |
|
|
|
|
Legal Form : |
Branch of a Foreign Registered Corporation |
|
|
|
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Line of Business : |
Distributors of fertilizers and related raw materials |
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|
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|
No. of Employees : |
02 employees |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Small Company |
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Payment Behaviour : |
Slow but Correct |
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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 |
|
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 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 : UNITED ORGANIC PVT LTD (RAK FTZ BRANCH)
Country of Origin : India
Legal Form : Branch of a Foreign Registered Corporation
Registration Date : 31st January 2011
Trade Licence Number : 5005933
Total Workforce : 2
Activities : Distributors of fertilizers and related raw materials.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : Arvind Kumar, Managing Director
UNITED ORGANIC PVT LTD (RAK FTZ BRANCH)
Registered &
Physical Address
Location : Ras Al Khaimah Free Trade Zone
PO Box :
1611
Town : Ras
Al Khaimah
Country : United Arab Emirates
Telephone : (971-7) 2091111
Facsimile : (971-7) 2091111
Mobile : (971-50) 2041960
Email : info@uopl.in / uopl@hotmail.com
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Ras Al Khaimah Free
Trade Zone.
Name Nationality Position
·
Arvind Kumar Indian Managing
Director
·
Arti Kumar Indian Director
Date of Establishment : 31st
January 2011
Legal Form :
Subject is the United Arab
Emirates registered branch of United Organic Pvt Ltd,
a Limited Liability Company incorporated in India.
United Organic Pvt Ltd (RAK FTZ Branch) in the United Arab Emirates,
operates as a
Branch of a Foreign
Registered Corporation with its registered office located at the following
address:
United Organic Pvt
Ltd
New Delhi
India
Tel : (91-11) 47514470
Fax : (91-11) 27494070
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 India.
Trade Licence No. : 5005933 (Expires 30/01/2013)
Activities: Engaged in the import and distribution of
fertilizers and related raw materials.
Import
Countries: India
Subject has a
workforce of 2 employees.
Subject is a newly formed
business and as a result financial information is not currently available.
·
Habib Bank Ltd
Murshid Bazaar
PO Box: 888
Dubai
Tel: (971-4) 2221281
Fax: (971-4) 2284631
No complaints regarding
subject’s payments have been reported.
In view of
subject’s infancy, extensive payment and financial are not available, therefore
dealings are recommended to be on secured terms, and a close monitoring of
subject’s business development is advisable.
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 |
|
|
>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.