MIRA INFORM REPORT
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Report Date : |
21.05.2013 |
IDENTIFICATION DETAILS
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Name : |
ALISONS LTD |
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Registered Office : |
Jebel Ali Free Zone, PO Box 13742, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
02.03.2005 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Distributors of pharmaceuticals and medical products. |
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No. of Employees : |
3 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 |
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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.
|
Source
: CIA |
Company Name :
ALISONS LTD
Country of Origin :
Sharjah, United Arab Emirates
Legal Form :
Limited Liability Company (Offshore)
Registration Date :
2nd March 2005
Trade Licence Number :
969
Issued Capital :
UAE Dh 50,000
Paid up Capital :
UAE Dh 50,000
Total Workforce :
3
Activities :
Distributors of pharmaceuticals and medical products.
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed :
Shafin Ali Bhai , General
Manager
ALISONS LTD
Registered Address
Location : Jebel Ali Free
Zone
PO Box :
13742
Town : Dubai
Country : United Arab Emirates
Physical Address
Location : Al Shawahain
Area
PO Box :
96494
Town : Sharjah
Country : United Arab
Emirates
Telephone : (971-6) 5684154
Facsimile : (971-6)
5684153
Mobile : (971-50)
7675639
Email : alibhais@eim.ae
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Sharjah.
Name Nationality Position
Mohsin Ismail Patel Pakistani Managing
Director
Shafin Ali Bhai - General
Manager
Date of Establishment : 2nd
March 2005
Legal Form : Limited Liability
Company (Offshore)
Trade Licence No. : 969 (Expires 01/03/2014)
Issued Capital : UAE Dh 50,000
Paid up Capital : UAE Dh 50,000
Name of
Shareholder (s) Percentage
Mohsin Ismail Patel 100%
Activities: Engaged in the import and distribution of pharmaceuticals and medical
products.
Import Countries: Europe and the Far East.
Subject has a workforce of 3 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.
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.55.04 |
|
|
1 |
Rs.83.61 |
|
Euro |
1 |
Rs.70.68 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.