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Report Date : |
04.01.2014 |
IDENTIFICATION DETAILS
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Name : |
ROTATIVE PROCESS SYSTEMS FZE |
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|
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Registered Office : |
RAK Free Trade
Zone, P O Box 16111, Ras Al Khaimah |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
29.12.2010 |
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Legal Form : |
Free Zone Establishment |
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Line of Business : |
Engaged in the
design and manufacture of vacuum systems also offering solutions for vacuum applications
for various industries. |
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No. of Employees : |
03 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
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, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
United Arab Emirates |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
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 Washington and in November 2004 agreed to undertake
negotiations toward a Free Trade Agreement with the US; however, those talks
have not moved forward. The country's Free Trade Zones - offering 100% foreign
ownership and zero taxes - are helping to attract foreign investors. The global
financial crisis, tight international credit, and deflated asset prices
constricted the economy in 2009. UAE authorities tried to blunt the crisis by
increasing spending and boosting liquidity in the banking sector. The crisis
hit Dubai hardest, as it was heavily exposed to depressed real estate prices.
Dubai lacked sufficient cash to meet its debt obligations, prompting global
concern about its solvency. The UAE Central Bank and Abu Dhabi-based banks
bought the largest shares. In December 2009 Dubai received an additional $10
billion loan from the emirate of Abu Dhabi. Dependence on oil, a large
expatriate workforce, and growing inflation pressures are significant long-term
challenges. The UAE's strategic plan for the next few years focuses on
diversification and creating more opportunities for nationals through improved
education and increased private sector employment.
|
Source : CIA |
Company Name : ROTATIVE PROCESS SYSTEMS FZE
Country of Origin : Ras Al Khaimah, United Arab Emirates
Legal Form : Free Zone Establishment - FZE
Registration Date : 29th December 2010
Trade Licence Number : 5005809
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Total Workforce : 3
Activities : Design and manufacture of vacuum systems
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : Shiva Kumar, General Manager
ROTATIVE PROCESS
SYSTEMS FZE
Registered &
Physical Address
Location : RAK Free Trade Zone
PO Box : 16111
Town : Ras Al Khaimah
Country : United Arab Emirates
Telephone : (971-7) 2078994
Facsimile : (971-7) 2041010
Mobile : (971-50) 9396890 / (971-55)
1796983
Email : ahujarps@gmail.com
Premises
Subject operates
from a small suite of offices that are rented and located in the RAK Free Zone
Area of Ras Al Khaimah.
Name Nationality Position
·
Rajesh
Ahuja Indian Managing
Director
·
Shiva
Kumar - General
Manager
Date of Establishment : 29th
December 2010
Legal Form :
Free Zone Establishment -
FZE
Trade Licence No. : 5005809
(Expires 29/12/2014)
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Name of Shareholder
(s) Percentage
·
Rajesh
Ahuja 100%
Activities: Engaged in the design and manufacture of
vacuum systems also offering solutions for vacuum
applications for various industries.
Import
Countries: United States of
America
International
Suppliers:
·
Tuthill United States of America
Brand Names: FILL RITE, KINNEY VACUUM, SOTERA SYSTEMS,
TUTHILL PUMP, TUTHILL ITALIA, M D
PNEUMATICS and GLOBAL GEAR
Subject has a
workforce of 3 employees.
Companies
registered in Ras Al Khaimah, United Arab Emirates are not legally required to
make their accounts public and no financial information was released by the
company or submitted by outside sources.
·
Standard
Chartered Bank
Khalid Bin Waleed Street
PO Box: 999
Dubai
Tel: (971-4) 2520455
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.62.41 |
|
|
1 |
Rs.102.54 |
|
Euro |
1 |
Rs.85.20 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
|
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.