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Report Date : |
19.12.2014 |
IDENTIFICATION DETAILS
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Name : |
GLOBAL IMPEX FZE |
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Registered Office : |
Workshop No. JP3-01, Saif Zone, |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
05.05.2010 |
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Legal Form : |
Free Zone Establishment |
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Line of Business : |
Engaged in the import and distribution of gold and silver bars and
related products. |
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No of Employees : |
02 |
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 : |
Good |
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Payment Behaviour : |
Regular |
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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 |
Company Name :
GLOBAL IMPEX FZE
Country of Origin :
Legal Form :
Free Zone Establishment - FZE
Registration Date :
5th May 2010
Trade Licence Number :
08122
Issued Capital :
UAE Dh 1,000,000
Paid up Capital :
UAE Dh 1,000,000
Total Workforce : 2
Activities : Distributors of
gold and silver bars and related products.
Financial Condition :
Good
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Safar Ahmed Tangayatil, Managing Director
GLOBAL IMPEX FZE
Registered &
Physical Address
Building :
Workshop No. JP3-01
Area : Saif Zone
PO Box : 122885
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 5570420
Facsimile : (971-6)
5570421
Email : safahdt@gmail.com
/ globex@eim.ae
Premises
Subject operates from a small suite of offices and a warehouse that are rented
and located in the Saif Zone Area of Sharjah.
Name Nationality Position
Safar Ahmed Tangayatil Indian Managing
Director
Ahmed Tangayatil Indian Sales
Manager
Date of Establishment : 5th May
2010
Legal Form : Free Zone
Establishment - FZE
Trade Licence No. : 08122
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Name of
Shareholder (s) Percentage
Safar Ahmed Tangayatil 100%
Activities: Engaged in the import and distribution of gold and silver bars and
related products.
Import Countries: Europe and
International
Suppliers:
Metenere Ltd
Met Trade UAE FZC Sharjah
Alcan Global Ajman
Millennium Metal Trading LLC Sharjah
Kalouti Jewellery International DMCC
Operating Trend: Steady
Subject has a workforce of 2 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 178,500,000 UAE Dh
183,000,000
Local sources consider subject’s financial condition to be Good.
The above figures were provided by Mr Safar Ahmed
Tangayatil, Managing Director
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.63.32 |
|
|
1 |
Rs.98.68 |
|
Euro |
1 |
Rs.78.11 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
TPT |
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.