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Report Date : |
18.08.2014 |
IDENTIFICATION DETAILS
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Name : |
UNIQUE FACTORIES
MACHINES AND EQUIPMENT TRADING |
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Registered Office : |
Industrial Area No. 3, PO Box: 33845, Sharjah |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
10.03.2003 |
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Com. Reg. No.: |
47846, Sharjah |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors and Installation
of Factory Machinery and Equipment |
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No. of Employees : |
20 |
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 – June 01, 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 Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 : UNIQUE FACTORIES MACHINES AND EQUIPMENT TRADING
Country of Origin :
Legal Form :
Sole Proprietorship
Registration Date : 10th
March 2003
Commercial
Registration Number : 47846,
Sharjah
Trade Licence
Number : 519170
Chamber Membership
Number : 57767
Invested Capital : UAE Dh
50,000
Total Workforce : 20
Activities :
Distributors and installation of factory machinery and equipment
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
UNIQUE FACTORIES
MACHINES AND EQUIPMENT TRADING
Location : Industrial Area No. 3
PO Box : 33845
Town : Sharjah
Country :
Telephone : (971-6) 5422096
Facsimile : (971-6) 5422097
Email : info@uniquefactories.com
Subject operates
from a small suite of offices that are rented and located in the Industrial
Area of Sharjah.
Name Nationality Position
·
Johny
Boutros Juttal Lebanese Proprietor
& General Manager
·
Waleed Jaffar
Abdullah Ahmed Emirati Local
Sponsor
·
Shukri
Samuel Azar - Assistant
General Manager
·
Ahmed
Abdul Rahman - Public
Relations Officer
Date of Establishment : 10th
March 2003
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 47846,
Sharjah
Trade Licence No. : 519170
Chamber Member No. : 57767
Invested Capital
: UAE Dh 50,000
Mr. Johny Boutros
Juttal is the sole proprietor of the business.
Activities: Engaged in the import, distribution and
installation of factory machinery and equipment. Subject also
manufactures kerbstones.
Import
Countries: Europe and the
Operating Trend: Steady
Subject has a
workforce of 20 employees.
Financial
highlights provided by local sources are given below:
Currency:
Year Ending 31/12/12: Year Ending 31/12/13:
Total Sales UAE Dh 11,250,000 UAE Dh 12,000,000
Local sources consider
subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
National
Bank of Sharjah
PO Box: 4
Sharjah
Tel: (971-6) 5547747
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.61.06 |
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|
1 |
Rs.101.84 |
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Euro |
1 |
Rs.81.56 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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Report Prepared
by : |
NIT |
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 |
-- |
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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.