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Report Date : |
01.03.2013 |
IDENTIFICATION DETAILS
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Name : |
INTRACOM MIDDLE EAST FZ LLC |
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Registered Office : |
Building No. 3,
Office No. 204, Dubai Internet City, P O Box 500517, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
07.03.2006 |
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Legal Form : |
Free Zone Limited Liability Company |
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Line of Business : |
Providers of telecommunication solutions |
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No. of Employees : |
28 |
RATING & COMMENTS
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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 (31.03.2012) |
Current Rating (30.06.2012) |
|
United Arab
Emirates |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
|
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 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. The economy is expected to continue a slow rebound. 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 : INTRACOM MIDDLE EAST FZ LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Free Zone Limited Liability Company – FZ LLC
Registration Date : 7th March 2006
Trade Licence Number : 20089
Chamber Membership Number : 105275
Issued Capital : UAE Dh 100,000
Paid up Capital : UAE Dh 100,000
Total Workforce : 28
Activities : Providers of telecommunication solutions.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : Oumou Keltoum, Administration Manager
INTRACOM MIDDLE
EAST FZ LLC
Registered &
Physical Address
Building : Building No. 3, Office No. 204
Area : Dubai Internet City
PO Box : 500517
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3625666
Facsimile : (971-4) 3904279
Email : info@intracom.ae / oummou.kelthoum@intracom.ae / michael.jardin@intracom.ae
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Dubai
Internet City.
Name Position
·
Andreas
Serras Managing
Director
·
Edna
Rutaquio Finance
Manager
·
Michael
Jardin Accounting
Manager
·
Oumou
Keltoum Administration
Manager
Date of Establishment : 7th
March 2006
Legal Form :
Free Zone Limited Liability
Company – FZ LLC
Trade Licence No. : 20089
(Expires 16/03/2013)
Chamber Member No. : 105275
Issued Capital : UAE Dh 100,000
Paid up Capital : UAE Dh 100,000
Name of Shareholder
(s) Percentage
·
Intracom
Telecom 100%
19.7th kilometre Markopoulou Avenue
Activities: Subject is a
telecommunication solutions provider for Fixed Wireless Access (WiMAX),
Broadband IP
networks and
OSS/BSS technologies. It focuses on the following areas:
-
Delivering end-to-end integrated network solutions
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Implementing large-scale turn-key projects
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Providing a wide range of engineering, consulting, and outsourcing
professional services
Import Countries: United States of America, Canada and Greece
Clients:
·
Etisalat Afghanistan
·
PTCL Pakistan
Subject has a
workforce of 28 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.
·
Citibank
Khalid Bin Waleed Street
Bur Dubai
PO Box: 749
Dubai
Tel: (971-4) 2522100
Fax: (971-4) 2524942
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.53.77 |
|
UK Pound |
1 |
Rs.81.57 |
|
Euro |
1 |
Rs.70.68 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.