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Report Date : |
03.04.2014 |
IDENTIFICATION DETAILS
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Name : |
JERNAS TANYA GENERAL TRADING LLC |
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Registered Office : |
Naif, Deira, P O
Box 50489, Dubai |
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Country : |
United Arab Emirates |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
26.01.1992 |
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Com. Reg. No.: |
58693, Dubai |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
importer and distributor of ceramic rollers, Kevlar
rope, cutters and other consumables related to the glass industry. |
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No. of Employees |
12 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
United Arab
Emirates |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 : JERNAS TANYA GENERAL TRADING LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 26th January 1992
Commercial Registration Number : 58693, Dubai
Trade Licence Number : 227040
Chamber Membership Number : 23194
Issued Capital : UAE Dh 500,000
Paid up Capital : UAE Dh 500,000
Total Workforce : 12
Activities : Distributors of ceramic rollers, Kevlar rope, cutters and other
consumables related to the glass industry
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
JERNAS TANYA
GENERAL TRADING LLC
Registered &
Physical Address
Location : Naif, Deira
PO Box : 50489
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2273293 / 2233734
Facsimile : (971-4) 2233734
Mobile : (971-50) 7685238 / 5981007 /
(971-52) 8400918
Email : jernasmic@hotmail.com / info@jernastan.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Dubai.
Name Nationality Position
·
Tedor
Asid Vaz Indian Managing Director
·
Abdullah
Hameed Shaikh Hameed Abdul Kadar Shaikh Indian Director
·
Flavia
Ros Vaz Indian Director
·
Tania
Regina Vaz Indian Director
·
Murad
Mohamed Ali Mohamed Emirati Director
Date of Establishment : 26th
January 1992
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 58693, Dubai
Trade Licence No. : 227040
Chamber Member No. : 23194
Issued Capital : UAE Dh 500,000
Paid up Capital : UAE Dh 500,000
Name of Shareholder
(s) Percentage
·
Murad
Mohamed Ali Mohamed 51%
·
Tedor
Asid Vaz 13%
·
Abdullah
Hameed Shaikh Hameed Abdul Kadar Shaikh 12%
·
Flavia
Ros Vaz 12%
·
Tania
Regina Vaz 12%
Activities: Engaged in the import and distribution of
ceramic rollers, Kevlar rope, cutters and other consumables
related to the glass
industry.
Import
Countries: Europe and the
Far East
Operating Trend: Steady
Subject has a workforce
of 12 employees.
Financial
highlights provided by local sources are given below:
Currency: United
Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/12: Year Ending
31/12/13:
Total Revenue UAE Dh 15,000,000 UAE Dh 15,385,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Mashreq
Bank Plc
Deira Branch
PO Box: 1250
Dubai
Tel: (971-4) 2229131 / 2221134
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.59.64 |
|
UK Pound |
1 |
Rs.99.21 |
|
Euro |
1 |
Rs.82.39 |
INFORMATION DETAILS
|
Analysis Done by
: |
Kar |
|
|
|
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Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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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 |
|
|
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 |
|
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
|
-- |
NB |
New Business |
-- |
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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.