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Report Date : |
25.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
FAIR DEAL MARBLES
& GRANITE TRADING EST |
|
|
|
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Registered Office : |
Warehouse No. 22,
Sharjah Ring Road, Industrial Area No. 15, 47578 Sharjah |
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|
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Country : |
United Arab Emirates |
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|
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
11.12.1999 |
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Com. Reg. No.: |
35189, Sharjah |
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Legal Form : |
Sole
Proprietorship |
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|
|
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Line of Business : |
Engaged in the
import and distribution of marble and granite. |
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|
|
|
No. of Employees : |
19 |
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 |
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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 – 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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
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 : FAIR DEAL
MARBLES & GRANITE TRADING EST
Country of Origin : Sharjah,
United Arab Emirates
Legal Form : Sole
Proprietorship
Registration Date : 11th
December 1999
Commercial
Registration Number : 35189,
Sharjah
Trade Licence
Number : 503639
Chamber Membership
Number : 47396
Invested Capital : UAE Dh
200,000
Total Workforce : 19
Activities :
Distributors of marble and granite.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Pankaj Kumar
Bajaj, Proprietor
FAIR DEAL MARBLES
& GRANITE TRADING EST
Building : Warehouse No. 22
Street : Sharjah Ring Road
Area : Industrial Area No. 15
PO Box : 47578
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 5343255
Facsimile : (971-6) 5343266
Mobile : (971-50) 8686125 / 7960192
Email : pankaj10@emirates.net.ae / info@fairdealuae.com
Subject operates from
a small suite of offices and a warehouse that are rented and located in the
Industrial Area of Sharjah.
Branch Offices
Location Description
·
Sajaa
Industrial Area Cutting
yard
Sharjah
Tel: (971-6) 5360239
Name Nationality Position
·
Pankaj
Kumar Bajaj Indian Proprietor
& General Manager
·
Walid
Shamlan Mohamed Al Shamlan Emirati Local Sponsor
·
Sayed
Sushil Bajaj - Commercial
Manager
·
S Kumar - Sales
Manager
·
Michael Anthony - Assistant
Sales Manager
·
Mohamed Rafiq - Administration
Executive
Date of Establishment : 11th
December 1999
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 35189,
Sharjah
Trade Licence No. : 503639
(Expires 11/12/2013)
Chamber Member No. : 47396
Invested Capital
: UAE Dh 200,000
Mr Pankaj Kumar
Bajaj is the sole proprietor of the business.
Activities: Engaged in the import and distribution of
marble and granite.
Import
Countries: India, China,
Oman, Pakistan, Vietnam, Spain and Italy.
International Suppliers:
·
Carrara White Italy
·
Creama Marfil Spain
Operating Trend: Steady
Subject has a
workforce of 19 employees.
Financial highlights
provided by local sources are given below:
Currency: United
Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/11: Year Ending
31/12/12:
Total Sales UAE Dh 10,200,000 UAE Dh 10,750,000
Local sources
consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
Abu
Dhabi Commercial Bank
Mina Road
PO Box: 4377
Sharjah
Tel: (971-6) 5737000
Fax: (971-6) 5725331
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
business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.33 |
|
|
1 |
Rs.82.55 |
|
Euro |
1 |
Rs.70.10 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.