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Report Date : |
22.08.2013 |
IDENTIFICATION DETAILS
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Name : |
SRV GLOBAL FZC |
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Registered Office : |
Saif Zone, 121677, Sharjah |
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Country : |
United Arab Emirates |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
19.02.2011 |
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Legal Form : |
Free Zone Company - FZC |
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Line of Business : |
Subject is engaged in the import and distribution of pine chemicals,
petrochemicals, bulk chemicals, fertilizers, textile dyes and paper scraps. |
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No. of Employees : |
6 |
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 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
United Arab
Emirates |
A2 |
A2 |
|
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 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.
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Source : CIA |
Company Name :
SRV GLOBAL FZC
Country of Origin :
Sharjah, United Arab Emirates
Legal Form :
Free Zone Company - FZC
Registration Date :
19th February 2011
Trade Licence Number :
09272, Saif Zone
Issued Capital :
UAE Dh 500,000
Paid up Capital :
UAE Dh 500,000
Total Workforce :
6
Activities :Distributors
of pine chemicals, petrochemicals, bulk chemicals, fertilizers, textile dyes
and paper scraps.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Person Interviewed :
R K Verma, General Manager
SRV GLOBAL FZC
Location : Saif Zone
PO Box : 121677
Town : Sharjah
Country : United Arab
Emirates
Telephone : (971-6) 5529707
Facsimile : (971-6)
5529707
Mobile : (971-55)
9163162 / 5529728
Email : info@srvglobal.net
/ srvglobalfzc@gmail.com
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
· Anil Kumar
Manoharlal Managing
Director
· Mankshant Okrah
Rotherd Director
· R K Verma General
Manager
Date of
Establishment : 19th
February 2011
Legal Form : Free Zone Company
- FZC
Trade Licence No. : 09272, Saif Zone
Issued Capital : UAE Dh 500,000
Paid up Capital : UAE Dh 500,000
· Anil Kumar
Manoharlal
· Mankshant Okrah
Rotherd
Activities: Engaged in the import and distribution of pine chemicals,
petrochemicals, bulk chemicals, fertilizers, textile dyes and paper scraps.
Import Countries: Europe and the Far East.
Subject has a workforce of 6 employees.
Financial highlights provided by local sources are given below:
Currency: United Arab Emirates Dirham (UAE Dh)
Period
Ending 31/12/11: Year
Ending 31/12/12:
Total Sales UAE
Dh 10,000,000 UAE
Dh 14,800,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr R K Verma, General Manager
·
Standard Chartered Bank
Al Boorj Avenue
PO Box: 5
Sharjah
Tel:
(971-6) 5357788
Fax:
(971-6) 5543604
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.63.46 |
|
UK Pound |
1 |
Rs.99.42 |
|
Euro |
1 |
Rs.85.12 |
INFORMATION DETAILS
|
Report Prepared
by : |
SMN |
RATING EXPLANATIONS
|
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 |
|
---- |
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.