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Report Date : |
15.06.2013 |
IDENTIFICATION DETAILS
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Name : |
SURYADEEP INTERNATIONAL FZC |
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Registered Office : |
Saif Zone, Suite 72C PO Box 9441 Sharjah |
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Country : |
United Arab Emirates |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
14.05.2006 |
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Legal Form : |
Free Zone Company - FZC |
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Line of Business : |
Distributors of building materials, foodstuffs, readymade garments, aluminium, lead concentrate, copper and zinc ore |
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No. of Employees : |
4 |
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 : |
Good |
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Payment Behaviour : |
Regular |
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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) |
|
UAE |
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 |
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 : SURYADEEP INTERNATIONAL FZC
Country of Origin : Sharjah, United Arab Emirates
Legal Form : Free Zone Company - FZC
Registration Date : 14th May 2006
Trade Licence Number : 05965
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Total Workforce : 4
Activities : Distributors of building materials, foodstuffs, readymade garments,
aluminium, lead concentrate, copper and zinc ore.
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Dheeraj Rana Surya, Finance Manager
SURYADEEP INTERNATIONAL FZC
Location : Saif Zone,
Suite 72C
PO Box : 9441
Town : Sharjah
Country : United Arab
Emirates
Physical Address
Location : Art Gold 3, Office No. 506
Street :
Al Rolla Street
Area :
Bur Dubai
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 3510855
Facsimile : (971-4)
3510856
Mobile : (971-55)
9189435 / 9189436 / (971-50) 6794986
Email : deepak@sandel.co.in
/ info@suryaexim.com
/ suryadeeepinternationalfzc@yahoo.com
Subject operates from a small suite of offices that are rented and
located in the Saif Zone Area of Sharjah.
Name Nationality Position
· Deepak Seghal Indian Managing
Director
· Gia Lal Seghal Indian Director
· Anil Kejriwal - General
Manager
· Dheeraj Rana Surya - Finance
Manager
Date of
Establishment : 14th
May 2006
Legal Form : Free Zone Company
- FZC
Trade Licence No. : 05965, Saif Zone
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
· Deepak Seghal
· Gia Lal Seghal
Activities: Engaged in the import and distribution of general merchandise,
including building materials, foodstuffs,
readymade garments, aluminium, lead concentrate, copper and zinc ore.
Import Countries: Europe and the Far East.
Operating Trend: Steady
Subject has a workforce of 4 employees.
Financial highlights provided by local sources are given below:
Currency: United Arab Emirates Dirham (UAE Dh)
Year
Ending 31/03/11: Year
Ending 31/03/12:
Total Sales UAE
Dh 238,000,000 UAE Dh
250,000,000
Local sources consider subject’s financial condition to be Good.
The above figures were provided by Mr Dheeraj Rana Surya, Finance
Manager
·
Bank of Baroda
PO Box: 3162
Dubai
Tel: (971-4)
5531955
Fax: (971-4)
5536962
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.57.74 |
|
|
1 |
Rs.90.64 |
|
Euro |
1 |
Rs.77.02 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 |
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-- |
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.