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Report Date : |
03.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
TEKSMED INTERNATIONAL SYSTEMS FZC |
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|
|
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Registered Office : |
Building No. Z1 Executive Office Z1-20, Saif Zone, PO Box 121814,
Sharjah |
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|
|
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Country : |
United Arab Emirates |
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Date of Incorporation : |
19.10.2010 |
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|
|
Legal Form : |
Free Zone Company |
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|
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Line of Business : |
Engaged in the import and distribution of medical equipment and
related accessories |
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|
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No. of Employees : |
5 |
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 – March 31st,
2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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 |
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 :
TEKSMED INTERNATIONAL SYSTEMS FZC
Country of Origin :
Sharjah, United Arab Emirates
Legal Form :
Free Zone Company - FZC
Registration Date :
19th October 2010
Trade Licence Number :
09830
Issued Capital :
UAE Dh 1,000,000
Paid up Capital :
UAE Dh 1,000,000
Total Workforce :
5
Activities :
Distributors of medical equipment and related accessories
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed :
Arun Mohamed Adil, Commercial Manager
TEKSMED INTERNATIONAL SYSTEMS FZC
Location : Building No.
Z1 Executive Office Z1-20, Saif Zone
PO Box : 121814
Town : Sharjah
Country : United Arab
Emirates
Telephone : (971-6) 5528703 / 5571952
Facsimile : (971-6) 5528704 / 5571952 / 5570832
Mobile : (971-50)
7165978
Email : aunadil@hotmail.com / teksmed@emirates.net.ae
Subject operates from a small suite of offices that are rented and located
in the Saif Zone Area of Sharjah.
Name Nationality Position
· Humair Suhail Canadian Managing
Director
· Erun Omar Canadian Director
· Arun Mohamed Adil - Commercial
Manager
Date of Establishment : 19th October 2010
Legal Form : Free Zone Company
- FZC
Trade Licence No. : 09830 (Expires 18/10/2013)
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
· Humair Suhail
· Erun Omar
Activities: Engaged in the import and distribution of medical equipment and related
accessories.
Import Countries: Japan and China
International Suppliers:
· Toshiba Medical Systems Corporation Japan
· Minolta Japan
· Mindray China
Subject has a workforce of 5 employees.
Companies registered in Sharjah, 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.
·
Sharjah Islamic Bank
Sharjah
Islamic Bank Tower
Al Khan
Corniche
Sharjah
Tel:
(971-6) 5998514
·
National Bank of Sharjah
Al Boorj Avenue
PO Box: 4
Sharjah
Tel:
(971-6) 5547747
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.60.80 |
|
UK Pound |
1 |
Rs.91.95 |
|
Euro |
1 |
Rs.80.36 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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.