|
Report Date : |
12.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
HTG INTERNATIONAL
FZE |
|
|
|
|
Registered Office : |
16111 Ras Al
Khaimah |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
18.10.2012 |
|
|
|
|
Legal Form : |
Free Zone Establishment - FZE |
|
|
|
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Line of Business : |
Engaged in the import and distribution of melamine crockery, crockery
products and household utensils |
|
|
|
|
No. of Employees : |
2 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow |
|
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) |
|
|
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 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
|
Source : CIA |
Company Name : HTG INTERNATIONAL FZE
Country of Origin : Ras Al
Khaimah,
Legal Form : Free
Zone Establishment - FZE
Registration Date : 18th
October 2012
Trade Licence
Number :
5008117
Issued Capital : UAE Dh
1,000,000
Paid up Capital : UAE Dh
1,000,000
Total Workforce : 2
Activities :
Distributors of melamine crockery, crockery products and household
utensils.
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed : Asim Qidwai,
Assistant General Manager
HTG INTERNATIONAL
FZE
Location : RAK Free Trade Zone
PO Box : 16111
Town : Ras Al Khaimah
Country :
Telephone : (971-7) 2363359
Facsimile : (971-7) 2362721
Subject operates from
a small suite of offices that are rented and located in the Free Trade Zone
Area of Ras Al Khaimah.
Name Nationality Position
·
Sayed
Zaiuddine Pakistani Managing
Director
·
Asim
Qidwai - Assistant
General Manager
Date of Establishment : 18th
October 2012
Legal Form :
Free Zone Establishment -
FZE
Trade Licence No. : 5008117
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
·
Sayed
Zaiuddine 100%
Activities: Engaged in the import and distribution of
melamine crockery, crockery products and household utensils
Import
Countries: Europe and the
Subject has a
workforce of 2 employees.
Subject is a newly
formed business and as a result financial information is not currently
available.
·
Habib
Bank Ltd
Murshid Bazaar
PO Box: 888
Tel: (971-4) 2221281
Fax: (971-4) 2284631
No complaints regarding
subject’s payments have been reported.
In view of
subject’s infancy, extensive payment and financial are not available, therefore
dealings are recommended to be on secured terms, and a close monitoring of
subject’s business development is advisable.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.29 |
|
|
1 |
Rs.101.36 |
|
Euro |
1 |
Rs.84.59 |
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.