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Report Date : |
24.09.2012 |
IDENTIFICATION DETAILS
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Name : |
ARWEN TECH INTERNATIONAL FZC |
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Registered Office : |
Plot No. Q01,06 /
96 C, Near Gate No. 3, Saif Zone, P O Box 120359, Sharjah |
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Country : |
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Date of Incorporation : |
28.07.2008 |
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Legal Form : |
Free Zone Company |
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Line of Business : |
Distributors of computer equipment |
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No. of Employees : |
04 |
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) |
|
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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 |
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 : ARWEN TECH INTERNATIONAL FZC
Country of Origin :
Legal Form : Free Zone Company - FZC
Registration Date : 28th July 2008
Trade Licence Number : 6478, Saif Zone
Issued Capital : UAE Dh 500,000
Paid up Capital : UAE Dh 500,000
Total Workforce : 4
Activities : Distributors of computer equipment
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
ARWEN TECH
INTERNATIONAL FZC
Registered &
Physical Address
Building : Plot No. Q01,06 / 96 C, Near Gate
No. 3
Area : Saif Zone
PO Box : 120359
Town : Sharjah
Country :
Telephone : (971-6) 5579483
Facsimile : (971-6) 5579485
Email : arwenfzc@eim.ae
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Saif Zone Area of Sharjah.
Name Position
·
Bashir
Zain Managing
Director
·
Imran
Khan Assistant
General Manager
Date of Establishment : 28th
July 2008
Legal Form :
Free Zone Company - FZC
Trade Licence No. : 6478,
Saif Zone
Issued Capital : UAE Dh 500,000
Paid up Capital : UAE Dh 500,000
Name of Shareholder
(s) Percentage
·
Arwen
Tech Pvt Ltd 100%
Activities: Engaged in the import and distribution of
computer equipment.
Arwen
Tech has been issued a letter of intent by the Dubai Islamic Bank for their
LAN/WAN infrastructure project. DIB is the first Islamic bank in the
world and a driving force for change in the Islamic banking industry. The bank
is looking at expanding its business in
Arwen
Tech will equip Dubai Islamic Bank with Cisco 6500 Series high end switches and
various other
Cisco
products. The company will also provide proxy servers and network monitoring
software.
Import
Countries: Europe and the
Subject has a workforce
of 4 employees.
Companies
registered in
·
PO Box: 1409
Sharjah
Tel: (971-6) 5726444
Fax: (971-6) 5727555
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.53.91 |
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|
1 |
Rs.87.60 |
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Euro |
1 |
Rs.70.01 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
|
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 |
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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.