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Report Date : |
09.08.2014 |
IDENTIFICATION DETAILS
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Name : |
BIOPHARM INC (BR) |
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Registered Office : |
8F-10, Rakia Amenity Center, Tower 2, AI Jazeera AI Hamra, P O Box 6531, Ras AI Khaimah |
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Country : |
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Date of Incorporation : |
24.11.2011 |
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Com. Reg. No.: |
41790 |
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Legal Form : |
Branch of a
Foreign Registered Corporation |
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Line of Business : |
Subject holds a general trade licence, enabling it to distribute
general merchandise. |
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No. of Employees : |
1 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Branch of A Foreign Registered Corporation |
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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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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
|
Source
: CIA |
Company Name :
BIOPHARM INC (BR)
Country of Origin :
Legal Form :
Branch of a Foreign Registered Corporation
Registration Date :
24th November 2011
Commercial Registration Number :
41790
File Number :
39902
Total Workforce :
1
Activities :
General trade licence
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
BIOPHARM INC (BR)
Registered & Physical Address
Building : 8f-10
Area : Al Jazeera
Al Hamra
PO Box : 6531
Town : Ras Al
Khaimah
Country :
Telephone : (971-6) 5263499
Facsimile : (971-6) 5263488
Email : sohail@griffinnagda.com
Please note that the address above belongs to the subject’s registered
agents “Griffin Nagda & Co”.
Premises
Subject operates from a small suite of offices that are rented and
located in the Commercial Area of Ras Al Khaimah.
Name Position
Saad Urhaman Managing
Director
Date of Establishment : 24th
November 2011
Legal Form : Subject is the
United Arab Emirates registered branch of Biopharm Inc, a Limited Liability
Company incorporated in the
Biopharm Inc (BR) in the
A
Branch of a Foreign Registered Corporation is not a legal entity in its
own
right.
Responsibility for payments lays in the hands of the company where it is
originally
registered.
Under
these circumstances, we strongly advise that any international trade
credit
should only be written under the name of the main company where the
subject
holds its registered office, in this case the
Commercial Reg. No. : 41790
File No. : 39902
Activities: Subject holds a general trade licence, enabling it to distribute
general merchandise.
Subject has a workforce of 1 employee.
Companies registered in Ras AL Khaimah,
National Bank of Ras Al Khaimah
PO Box: 5300
Ras Al Khaimah
Tel: (971-7) 2221127
Fax: (971-7) 2224202
No complaints regarding subject’s payments have been reported.
Please note that we were unable to contact the subject directly during
our investigation.
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
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Indian Rupees |
|
US Dollar |
1 |
Rs.61.55 |
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1 |
Rs.103.50 |
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Euro |
1 |
Rs.82.41 |
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to
overcome financial difficulties seems comparatively below average. |
Small |
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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 |
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-- |
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.