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Report Date : |
19.04.2013 |
IDENTIFICATION DETAILS
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Name : |
LINKQUEST FZCO |
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|
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Registered Office : |
IT Plaza, Office No. 810 Dubai Silicon Oasis PO Box 27676 Dubai |
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Country : |
United Arab Emirates |
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Year of Incorporation : |
1993 |
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Legal Form : |
Free Zone Company – FZCO |
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Line of Business : |
Distributors of telecommunication equipment, computer hardware and software solutions. |
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No. of Employees : |
300 |
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 |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
UAE |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 country
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. 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 : LINKQUEST FZCO
Country of Origin : Dubai, United Arab Emirates
Legal Form : Free Zone Company – FZCO
Start Date : 1993
Registration Date : 11th January 2010
Trade Licence Number : 290
Chamber Membership Number : 179617
Issued Capital : UAE Dh 1,500,000
Paid up Capital : UAE Dh 1,500,000
Total Workforce : 300
Activities : Distributors of telecommunication equipment, computer hardware and
software solutions.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
LINKQUEST FZCO
Building : IT Plaza,
Office No. 810
Area : Dubai
Silicon Oasis
PO Box : 27676
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3262916
/ 3913450
Facsimile : (971-4)
3262540 / 3916876
Email : info@linkquestme.com
/ sales@linkquestme.com
Subject operates from a large suite of offices that are rented and
located in the Central Business Area of Dubai.
Name Nationality Position
· Mashkoor Ahmad
Khan American Managing Director
· Aseem Batla - Director
· Mohamed Anwar Ul
Kareem - Country
Manager
· Kazmi Obaidullah - Sales
Manager
· M Zia Samad - Administration
Officer
Date of
Establishment : 1993, however
subject was registered on 11th January 2010
Legal Form : Free Zone Company
- FZCO
Trade Licence No. : 290
Chamber Member No. : 179617
Issued Capital : UAE Dh 1,500,000
Paid up Capital : UAE Dh 1,500,000
· Mashkoor Ahmad
Khan
· Aseem Batla
Activities: Engaged in the import and distribution of telecommunication equipment,
computer hardware and software solutions.
Subject provides telecom system integration and services, including
total turnkey solutions and managed services to its clients in South Asia,
Middle East and Africa region.
Import Countries: Europe and the Far East
Export Countries: South Asia, Middle East and Africa
Subject has a workforce of approximately 300 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.
·
HSBC Bank Middle East
Deira Souk Branch
PO Box:
66
Dubai
Tel:
(971-4) 2535000
No complaints regarding subject’s payments have been reported.
Local sources report that the subject’s operating history is clear with
payment obligations met in a generally timely manner. The financial position is
satisfactory and the company is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.03 |
|
|
1 |
Rs.82.43 |
|
Euro |
1 |
Rs.70.49 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.