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Report Date : |
21.08.2014 |
IDENTIFICATION DETAILS
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Name : |
GALAXY METAL FZE |
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Registered Office : |
Hamriyah Free Zone |
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Country : |
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Date of Incorporation : |
12.02.2014 |
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Legal Form : |
Free Zone Establishment - FZE |
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Line of Business : |
Engaged in the import and distribution of general foodstuffs, paper, tyres
and automotive spare parts |
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No. of Employees |
01 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New Business |
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Payment Behaviour : |
Unknown |
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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) |
|
UAE |
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 |
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 : GALAXY METAL FZE
Country of Origin :
Legal Form : Free Zone Establishment - FZE
Registration Date : 12th February 2014
Trade Licence Number : 11874
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Total Workforce : 1
Activities : Distributors of general foodstuffs, paper, tyres and automotive spare parts
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
GALAXY METAL FZE
Location : Hamriyah Free
Zone
PO Box : 54047
Town : Sharjah
Country :
Facsimile : (971-6)
7412248 / 7412748
Email : iromispatt@gmail.com
Subject operates from a small suite of offices that are rented and
located in the Hamriyah Free Zone Area of Sharjah.
Name Nationality Position
· Renu Sharma Indian Managing
Director
Date of
Establishment : 12th
February 2014
Legal Form : Free Zone
Establishment - FZE
Trade Licence No. : 11874 (Expires 12/02/2015)
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
· Renu Sharma 100%
Activities: Engaged in the import and distribution of general foodstuffs, paper,
tyres and automotive spare parts.
Import Countries: Europe and the
Subject has a workforce of 1 employee.
Subject is a newly formed business and as a result financial information
is not currently available.
·
Sharjah Islamic Bank
PO Box: 4
Sharjah
Tel:
(971-6) 5547747
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.60.66 |
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|
1 |
Rs.100.80 |
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Euro |
1 |
Rs.80.72 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
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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.