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Report Date : |
19.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
BRIGHTCOM
INTERNATIONAL FZE |
|
|
|
|
Registered Office : |
Ajman Free Zone,
Office No. E 103, 4196 Ajman |
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|
|
|
Country : |
United Arab Emirates |
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|
|
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Date of Incorporation : |
25.04.2000 |
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|
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Legal Form : |
Free Zone Establishment – FZE |
|
|
|
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Line of Business : |
Engaged in the import, distribution and integration of telecommunication systems, field maintenance, consulting, network auditing and human resources services. |
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|
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No. of Employees : |
6 |
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 : |
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 |
|
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 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 : BRIGHTCOM
INTERNATIONAL FZE
Country of Origin : Ajman,
United Arab Emirates
Legal Form :
Free Zone Establishment - FZE
Registration Date : 25th
April 2000
Trade Licence
Number : 255
Issued Capital : UAE Dh
300,000
Paid up Capital : UAE Dh
300,000
Total Workforce : 6
Activities :
Distributors and integrators of telecommunication systems, field
maintenance, consulting, network auditing and human resources services.
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed : Hafiz Al
Rahman, General Manager
BRIGHTCOM
INTERNATIONAL FZE
Location : Ajman Free Zone, Office No. E 103
PO Box : 4196
Town : Ajman
Country : United Arab Emirates
Telephone : (971-6) 7424309
Facsimile : (971-6) 7424903 / 7429222
Mobile : (971-50) 1728861
Email : hafiz@brightcombeintl.com / brightcombedxb@gmail.com / sales@brightcom.ae
Subject operates from
a small suite of offices that are rented and located in the Ajman Free Zone.
Name Nationality Position
·
Malik
Abdul Karim Pakistani Managing Director
·
Hafiz
Al Rahman - General
Manager
Date of Establishment : 25th
April 2000
Legal Form :
Free Zone Establishment –
FZE
Trade
Licence No. : 255 (Expires 13/03/2014)
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
·
Malik
Abdul Karim 100%
·
Multitech
System Pvt Ltd
Islamabad
Pakistan
Activities: Engaged in the import, distribution and
integration of telecommunication systems, field maintenance,
consulting, network auditing and
human resources services.
Import
Countries: Japan, Finland,
France and Australia.
International
Suppliers:
·
Fuji
Kura Japan
·
Tellabs Finland
·
Alcatel France
·
Andrews Antina Ltd Australia
Subject has a
workforce of 6 employees.
Companies
registered in Ajman, 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.
·
HSBC
Bank Middle East
Main Branch
Ajman
Tel: (971-6) 5537222
Fax: (971-6) 5537880
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.63.14 |
|
|
1 |
Rs.100.48 |
|
Euro |
1 |
Rs.84.36 |
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.