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Report Date : |
12.12.2014 |
IDENTIFICATION DETAILS
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Name : |
AL WARI CARGO |
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Registered Office : |
Ayal Nasir
Building, Office No. 17, Naif Road, Deira, P O Box 85739 & 7654, Dubai |
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Country : |
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Financials (as on) : |
31.12.2013 (Estimated) |
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Date of Incorporation : |
09.05.1993 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the
provision of customs brokerage and cargo services. |
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No of Employees : |
05 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 – 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 |
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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 |
Concern Name : AL WARI CARGO
Country of Origin :
Legal Form : Sole Proprietorship
Registration Date : 9th May 1993
Trade Licence Number : 230914
Invested Capital : UAE Dh 10,000
Total Workforce : 5
Activities : Providers of customs brokerage and cargo services
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
AL WARI CARGO
Registered &
Physical Address
Building : Ayal
Street :
Area : Deira
PO Box : 85739 & 7654
Town :
Country : United Arab Emirates
Telephone : (971-4) 2292166 / 2821636
Facsimile : (971-4) 2292113
Premises
Subject operates from
a small suite of offices that are rented and located in the Central Business
Area of Dubai.
Name Position
·
Mohamed Abdulrahim Al Wari Proprietor & General Manager
Date of Establishment : 9th
May 1993
Legal Form :
Sole Proprietorship
Trade Licence No. : 230914
(Expires 08/05/2015)
Invested Capital
: UAE Dh 10,000
Mr Mohamed
Abdulrahim Al Wari is the sole
proprietor of the business.
Activities: Engaged in the provision of customs brokerage
and cargo services.
Operating Trend: Steady
Subject has a
workforce of 5 employees.
Financial
highlights provided by local sources are given below:
Currency:
Year
Ending 31/12/12: Year Ending
31/12/13:
Total Revenue UAE Dh 7,800,000 UAE Dh 8,110,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Commercial
Bank of
Deira
PO Box: 1709
Tel: (971-4) 2227121 / 2253222
Fax: (971-4) 2220943 / 2254565
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
business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.21 |
|
|
1 |
Rs.97.80 |
|
Euro |
1 |
Rs.77.48 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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|
|
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Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
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 |
|
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.