MIRA INFORM REPORT
|
Report Date : |
22.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
MACRO SAT GENERAL
TRADING LLC |
|
|
|
|
Registered Office : |
Warehouse No.
7, Dubai Investment Park 1, Alfuttaim Exova, Dubai |
|
|
|
|
Country : |
United Arab Emirates |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
17.05.2006 |
|
|
|
|
Com. Reg. No.: |
80880, Dubai |
|
|
|
|
Legal Form : |
Limited Liability
Company - LLC |
|
|
|
|
Line of Business : |
Distributors of
Computer Equipment and Related Accessories |
|
|
|
|
No. of Employees : |
5 |
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 |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
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 |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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 :
MACRO SAT GENERAL TRADING LLC
Country of Origin : Dubai,
United Arab Emirates
Legal Form : Limited
Liability Company - LLC
Registration Date : 17th
May 2006
Commercial
Registration Number : 80880,
Dubai
Trade Licence
Number : 581467
Chamber Membership
Number : 107616
Issued Capital : UAE Dh
1,000,000
Paid up Capital : UAE Dh
1,000,000
Total Workforce : 5
Activities :
Distributors of computer equipment and related accessories
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
MACRO SAT GENERAL
TRADING LLC
Building : Warehouse No. 7
Area : Dubai Investment Park 1,
Alfuttaim Exova
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 8877351
Facsimile : (971-4) 8877351
Email : commercial@macrosat.com
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Industrial Area of Dubai.
Name Nationality Position
·
Ali
Sabaz Ali Farad Shaheen Tabah Iranian Managing
Director
·
Ahmad
Sabaz Ali Farad Shaheen Tabah Iranian Director
·
Davood
Sabaz Ali Farad Shaheen Tabah Iranian Director
·
Mahmoud
Ali Farad Shaheen Tabah Iranian Director
·
Mores
Mahmood Moatamd Iranian Director
·
Sabaz
Ali Yadollah Farad Shaheen Tabah Iranian Director
·
Yaqoob
Ali Kamali Pour Emirati Director
Date of Establishment : 17th
May 2006
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 80880, Dubai
Trade Licence No. : 581467
Chamber Member No. : 107616
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
·
Yaqoob
Ali Kamali Pour 51%
·
Ali
Sabaz Ali Farad Shaheen Tabah 9%
·
Ahmad
Sabaz Ali Farad Shaheen Tabah 8%
·
Davood
Sabaz Ali Farad Shaheen Tabah 8%
·
Mahmoud
Ali Farad Shaheen Tabah 8%
·
Mores
Mahmood Moatamd 8%
·
Sabaz
Ali Yadollah Farad Shaheen Tabah 8%
Activities: Engaged in the import and distribution of
computer equipment and related accessories.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 5 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 9,280,000 UAE Dh 9,750,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Emirates
National Bank of Dubai
Baniyas Street
PO Box: 777
Dubai
Tel: (971-4) 2222241
No complaints
regarding subject’s payments have been reported.
According to local
sources, subject meets its payment obligations in a timely manner and the
company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.04 |
|
|
1 |
Rs.83.95 |
|
Euro |
1 |
Rs.70.93 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
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.