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Report Date : |
27.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
AZZAD DATES
FACTORY |
|
|
|
|
Registered Office : |
Street 900, Abou Samra
District, Sector 901, 22224 Al Ain |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
17.03.2009 |
|
|
|
|
Legal Form : |
Sole
Proprietorship |
|
|
|
|
Line of Business : |
Processors and
packagers of dates |
|
|
|
|
No. of Employees : |
40 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No complaints |
|
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
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
|
Source
: CIA |
Company Name : AZZAD DATES FACTORY
Country of Origin : Al Ain,
Legal Form :
Sole Proprietorship
Registration Date : 17th
March 2009
Industrial Licence
Number : 1544
Chamber Membership
Number : 2866609
Invested Capital : UAE Dh
100,000
Total Workforce : 40
Activities :
Processors and packagers of dates
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
AZZAD DATES FACTORY
Street : Street 900
Area : Abou Samra District, Sector
901
PO Box : 22224
Town : Al Ain
Country :
Telephone : (971-3) 7372219
Facsimile : (971-3) 7372216
Email : info@azzaddates.com
Subject operates
from a medium sized suite of offices and a factory that are rented and located
in the Industrial Area of Al Ain.
Name Position
·
Saeed Khalifa
Sabt Al Khalili Proprietor
& General Manager
Date of Establishment : 17th
March 2009
Legal Form :
Sole Proprietorship
Industrial Licence No. : 1544
Chamber Member No. : 286609
Invested Capital
: UAE Dh 100,000
Mr Saeed Khalifa
Sabt Al Khalili is the sole proprietor of the business.
·
Al Zad
Dates Est
Street 900
Abou Samra District, Sector 901
PO Box: 22224
Al Ain
Tel: (971-3) 7372219
Fax: (971-3) 7372216
Activities: Engaged in the processing and packaging of
dates.
Production Capacity: 1,500 tons per year.
Subject has a
workforce of 40 employees.
Companies
registered in Al Ain are not legally required to make their accounts public and
no financial information was released by the company or submitted by outside
sources.
·
Citibank
PO Box: 1430
Al Ain
Tel: (971-3) 7641090
Fax : (971-3) 7663887
No complaints regarding
subject’s payments have been reported.
Please note that we
were unable to make direct contact with the subject during this investigation
and the above information is based on registered data.
Local sources
report that the subject’s operating history is clear with payment obligations
met in a generally timely manner. As such it is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.57 |
|
|
1 |
Rs.86.60 |
|
Euro |
1 |
Rs.68.93 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.