|
Report Date : |
19.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
ENKAY
INTERNATIONAL FZE |
|
|
|
|
Registered Office : |
Hamriyah Free
Zone, PO Box: 53400, Sharjah |
|
|
|
|
Country : |
United Arab
Emirates |
|
|
|
|
Date of Incorporation : |
14.08.2013 |
|
|
|
|
Legal Form : |
Free Zone
Establishment |
|
|
|
|
Line of Business : |
Distributors of agricultural equipment, power generating equipment, electrical fans and spare parts. |
|
|
|
|
No. of Employees : |
2 |
RATING & COMMENTS
|
MIRA’s Rating : |
NB |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
---- |
NB |
New Business |
---- |
|
Status : |
New Business |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
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 : ENKAY
INTERNATIONAL FZE
Country of Origin : Dubai, United
Arab Emirates
Legal Form :
Free Zone Establishment - FZE
Registration Date : 14th
August 2013
Trade Licence
Number : 11169
Issued Capital : UAE Dh
1,000,000
Paid up Capital : UAE Dh
1,000,000
Total Workforce : 2
Activities :
Distributors of agricultural equipment, power generating equipment,
electrical fans and spare parts.
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
ENKAY INTERNATIONAL
FZE
Registered Address
Location : Hamriyah Free Zone
PO Box : 53400
Town : Sharjah
Country : United Arab Emirates
Physical Address
Street : Al Mina Road
Area : Deira
PO Box : 71735
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3936778
Facsimile : (971-4) 3936898
Mobile : (971-50) 4510783
Email : chdaswani@hotmail.com / toplink@eim.ae
Premises
Subject operates
from a small suite of offices that are rented and located in the Suburban
Business Area of Dubai.
Name Nationality Position
Chandru H Daswani Indian Managing Director
Date of
Establishment : 14th August 2013
Legal Form : Free Zone Establishment - FZE
Trade Licence
No. : 11169 (Expires 13/08/2014)
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Name of Shareholder (s)
Chandru H Daswani
Top Link
International LLC
PO Box: 71735
Dubai
Tel: (971-4)
3936778
Fax: (971-4)
3936898
Mob: (971-50)
4510783
Activities: Engaged
in the import and distribution of agricultural equipment, power generating
equipment, electrical fans and spare parts.
Import
Countries: Europe and the Far East.
Subject has a
workforce of 2 employees.
Subject is a newly
formed business and as a result financial information is not currently
available.
Standard Chartered
Bank
Khalid Bin Waleed
Street
PO Box: 999
Dubai
Tel: (971-4)
2520455
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.63.14 |
|
|
1 |
Rs.100.48 |
|
Euro |
1 |
Rs.84.37 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.