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Report Date : |
10.12.2014 |
IDENTIFICATION DETAILS
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Name : |
DIAMTRADCO FZC |
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Registered Office : |
Saif Zone, 121804, Sharjah |
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Country : |
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Date of Incorporation : |
23.02.2011 |
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Legal Form : |
Free Zone Company – FZC |
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LINE OF BUSINESS : |
ENGAGED
IN THE IMPORT AND DISTRIBUTION OF DIAMONDS AND JEWELLERY. |
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No of Employees : |
2 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
|
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
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 :
DIAMTRADCO FZC
Country of Origin :
Legal Form :
Free Zone Company - FZC
Registration Date :
23rd February 2011
Trade Licence Number :
09073
Issued Capital :
UAE Dh 1,000,000
Paid up Capital :
UAE Dh 1,000,000
Total Workforce :
2
Activities :
Distributors of diamonds and jewellery
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
DIAMTRADCO FZC
Location : Saif Zone
PO Box :
121804
Town : Sharjah
Country : United Arab Emirates
Email : hitu@eim.ae
/ diamtradco@gmail.com
Subject operates from a small suite of offices and a showroom that are
rented and located in the Saif Zone Area of Sharjah.
Name Nationality Position
· Bhart K G Shah Indian Managing
Director
· Sangita Babulal
Bandari Indian Director
Date of
Establishment : 23rd
February 2011
Legal Form : Free Zone Company
- FZC
Trade Licence No. : 09073 (Expires 22/02/2015)
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
· Bhart K G Shah
· Sangita Babulal
Bandari
Activities: Engaged in the import and distribution of diamonds and jewellery.
Import Countries: Europe and the
Subject has a workforce of 2 employees.
Companies registered in
·
National Bank of Sharjah
PO Box: 4
Sharjah
Tel:
(971-6) 5547747
No complaints regarding subject’s payments have been reported.
Please note that the correct name of the subject is “Diamtradco FZC” and
not “Diamtradeco FZC”.
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.61.88 |
|
|
1 |
Rs.96.90 |
|
Euro |
1 |
Rs.76.29 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
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|
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Report Prepared
by : |
SMN |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>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 |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
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.