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Report Date : |
14.08.2014 |
IDENTIFICATION DETAILS
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Name : |
INDICAA GROUP LTD |
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Formerly Known as: |
Indicaa Global Limited |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
28.06.1994 |
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Com. Reg. No.: |
823, |
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Legal Form : |
Branch of a Foreign Registered Corporation |
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Line of Business : |
Subject is engaged in the import and distribution of building
materials, steel products, ferrous and non-ferrous scrap metals scrap plastic
and paper as well as textiles |
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No. of Employees : |
15 |
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 31, 2014
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Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
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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 Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
UAE - 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 : INDICAA GROUP LTD
Country of Origin :
Legal Form : Branch of a Foreign Registered Corporation
Registration Date : 28th June 1994
Commercial Registration Number : 823,
Trade Licence Number : 901
Chamber Membership Number : 31132
Issued Capital : UAE Dh 7,500,000
Paid up Capital : UAE Dh 7,500,000
Total Workforce : 15
Activities : Import and distribution of building materials, steel products, scrap metals and textiles.
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Krishnan Ramadouri, Finance Manager
INDICAA GROUP LTD
Registered &
Physical Address
Street :
Area : Jebel Ali
Free Zone
PO Box : 16983
Town :
Country :
Telephone : (971-4) 8817817
Facsimile : (971-4)
8817827
Email : indicaa@indicaa.com
Premises
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Jebel Ali Free Zone.
Branch Office (s)
Location Description
· Al Tawhidi Building,
5th Floor, Office No. 502 Office
premises
Bur
PO Box: 6740
Tel:
(971-4) 3511222
Fax:
(971-4) 3511200
Name Nationality Position
· Sanjeev Garg Indian Managing
Director
· R
· Krishnan Ramadouri - Finance
Manager
· Gerald Fernandes - Marketing
Manager
Date of
Establishment : 28th
June 1994
History : Subject was originally
established in 1994 under the name of “Indicaa Global Limited”.
However it re-registered under the current
style of “Indicaa Group Ltd” in 2009.
Legal Form : Subject is the
United Arab Emirates registered branch of Indicaa Global Ltd, a Limited
Liability Company
incorporated in the Isle of Man,
Indicaa Global Ltd in the
Registered
Corporation.
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 Isle of Man,
United Kingdom
Commercial Reg.
No. : 823, Dubai
Trade Licence No. : 901 (Expires 28/02/2014)
Chamber Member No. : 31132
Issued Capital : UAE Dh 7,500,000
Paid up Capital : UAE Dh 7,500,000
Activities: Engaged in the import and distribution of building materials, steel
products, ferrous and non-ferrous scrap metals scrap plastic and paper as well
as textiles.
Import Countries: Europe and GCC countries.
Operating Trend: Steady
Subject has a workforce of 15 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 Sales UAE
Dh 1,400,000,000 UAE Dh
1,460,000,000
Local sources consider subject’s financial condition to be Good.
The above figures were provided by Mr. Krishnan Ramadouri, Finance
Manager
·
HSBC Bank Middle East
Deira Souk Branch
PO Box:
66
Dubai
Tel: (971-4) 2535000
·
The Standard Chartered Bank
Khalid Bin Waleed
Street
Mankhool Branch
PO Box: 999
Dubai
Tel: (971-4)
2520455
·
Mashreq Bank Plc
Deira Branch
PO Box: 1250
Dubai
Tel: (971-4)
2229131 / 2221134
Fax: (971-4)
2233784
·
Abu Dhabi Commercial Bank
Al Rigga Road
PO Box: 5550
Dubai
Tel: (971-4)
2958888 / 3228141
Fax: (971-4)
2959310 / 3279632
No complaints regarding subject’s payments have been reported.
Established in 1994, subject is involved in the import and distribution
of building materials, steel products, scrap metals and textiles.
According to local sources, subject enjoys a good reputation for the
quality of its products with nothing detrimental uncovered regarding the manner
in which operations are conducted. As such the company is considered to be a
fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.25 |
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UK Pound |
1 |
Rs.103.02 |
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Euro |
1 |
Rs.81.90 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIS |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.