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Report Date : |
20.09.2012 |
IDENTIFICATION DETAILS
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Name : |
EKAZ INTERNATIONAL FZC |
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Registered Office : |
Warehouse No. 6-7-8, Shed No. 22 RAK Free Zone PO Box: 54609 Ras Al
Khaimah |
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Country : |
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Date of Incorporation : |
28.06.2012 |
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Com. Reg. No.: |
42883, Ras Al Khaimah |
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Legal Form : |
Free Zone Company - FZC |
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Line of Business : |
General trade licence |
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No. of Employees : |
4 |
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RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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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
Source
: CIA
Company Name : EKAZ INTERNATIONAL FZC
Country of Origin :
Ras Al Khaimah,
Legal Form : Free Zone Company - FZC
Registration Date : 28th June 2012
Commercial Registration Number : 42883, Ras Al Khaimah
Trade Licence Number : 8000241
Chamber Membership Number : 41065
Issued Capital : UAE Dh 500,000
Paid up Capital : UAE Dh 500,000
Total Workforce : 4
Activities : General trade licence
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
EKAZ INTERNATIONAL FZC
Building : Warehouse
No. 6-7-8, Shed No. 22
Area : RAK Free
Zone
PO Box : 54609
Town : Ras Al
Khaimah
Country :
Subject operates from a small suite of offices and a warehouse that are rented
and located in the Ras Al Khaimah Free Zone.
Name Nationality Position
· Khorm Shazad Cika Pakistani Managing
Director
· Atifa Riaz Cika Pakistani Director
· Zain Ijaz Cika Pakistani Director
· Ijaz Mohamed Cika Pakistani Director
Date of
Establishment : 28th
June 2012
Legal Form : Free Zone
Company - FZC
Commercial Reg.
No. : 42883, Ras Al Khaimah
Trade Licence No. : 8000241 (Expires 02/05/2013)
Chamber Member No. : 41065
Issued Capital : UAE Dh 500,000
Paid up Capital : UAE Dh 500,000
· Khorm Shazad Cika
· Atifa Riaz Cika
· Zain Ijaz Cika
· Ijaz Mohamed Cika
Activities: Subject holds a general trade licence, enabling it to distribute general
merchandise.
Subject has a workforce of 4 employees.
Subject is a newly formed business and as a result financial information
is not currently available.
·
National Bank of Ras Al Khaimah
PO Box: 5300
Ras Al Khaimah
Tel: (971-7)
2221127
Fax: (971-7)
2224202
No complaints regarding subject’s payments have been reported.
Please note that we were unable to contact the subject directly during
our investigation.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.54.26 |
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1 |
Rs.88.14 |
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Euro |
1 |
Rs.71.03 |
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.