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Report Date : |
16.12.2014 |
IDENTIFICATION DETAILS
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Name : |
MEGHA EXIM FZC |
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Registered Office : |
Hamriyah Free Zone, 31F 41973 Sharjah |
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Country : |
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Date of Incorporation : |
12.05.2014 |
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Legal Form : |
Free Zone Company - FZC |
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Line of Business : |
Engaged in the import and distribution of timber and timber products |
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No of Employees : |
2 |
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 Company |
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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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
UAE |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
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 |
|
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 : MEGHA EXIM FZC
Country of Origin :
Legal Form : Free Zone Company - FZC
Registration Date : 12th May 2014
Trade Licence Number : 12351
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Total Workforce : 2
Activities : Distributors of timber and timber products.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : Mahes Jaswal, General Manager
MEGHA EXIM FZC
Location : Hamriyah Free Zone, 31F
PO Box : 41973
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 5262460
Facsimile : (971-6) 5262303
Email : kiran@allianceauditing.net / import.hktimbers@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
·
Bharat
Rudani Indian Managing
Director
·
Mahes
Jaswal - General
Manager
Date of Establishment : 12th
May 2014
Legal Form :
Free Zone Company - FZC
Trade Licence No. : 12351
(Expires 11/05/2015)
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
·
Bharat
Rudani 100%
Activities: Engaged in the import and distribution of
timber and timber products.
Import
Countries: Europe and the
Subject has a
workforce of 2 employees.
Subject is a newly
formed business and as a result financial information is not currently
available.
·
Standard
Chartered Bank
PO Box: 5
Sharjah
Tel: (971-6) 5357788
Fax: (971-6) 5543604
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. 62.65 |
|
|
1 |
Rs. 98.53 |
|
Euro |
1 |
Rs. 78.01 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
DPT |
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 |
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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 |
|
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.