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Report Date : |
15.01.2014 |
IDENTIFICATION DETAILS
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Name : |
OASIS TEXTILE AND MANUFACTURE LTD |
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Registered Office : |
560 High Road London E11 3DH |
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Country : |
United Kingdom |
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Date of Incorporation : |
11.09.2012 |
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Com. Reg. No.: |
08210214 |
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Legal Form : |
Private limited with Share Capital |
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Line of Business : |
Wholesale of textiles |
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No. of Employees : |
Not Available |
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, 2013
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Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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United Kingdom |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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 KINGDOM - ECONOMIC OVERVIEW
The UK, a leading trading power and financial center, is the second largest economy in Europe after Germany. Over the past two decades, the government has greatly reduced public ownership and contained the growth of social welfare programs. Agriculture is intensive, highly mechanized, and efficient by European standards, producing about 60% of food needs with less than 2% of the labor force. The UK has large coal, natural gas, and oil resources, but its oil and natural gas reserves are declining and the UK became a net importer of energy in 2005. Services, particularly banking, insurance, and business services, account by far for the largest proportion of GDP while industry continues to decline in importance. After emerging from recession in 1992, Britain's economy enjoyed the longest period of expansion on record during which time growth outpaced most of Western Europe. In 2008, however, the global financial crisis hit the economy particularly hard, due to the importance of its financial sector. Sharply declining home prices, high consumer debt, and the global economic slowdown compounded Britain's economic problems, pushing the economy into recession in the latter half of 2008 and prompting the then BROWN (Labour) government to implement a number of measures to stimulate the economy and stabilize the financial markets; these include nationalizing parts of the banking system, temporarily cutting taxes, suspending public sector borrowing rules, and moving forward public spending on capital projects. Facing burgeoning public deficits and debt levels, in 2010 the CAMERON-led coalition government (between Conservatives and Liberal Democrats) initiated a five-year austerity program, which aimed to lower London's budget deficit from over 10% of GDP in 2010 to nearly 1% by 2015. In November 2011, Chancellor of the Exchequer George OSBORNE announced additional austerity measures through 2017 because of slower-than-expected economic growth and the impact of the euro-zone debt crisis. The CAMERON government raised the value added tax from 17.5% to 20% in 2011. It has pledged to reduce the corporation tax rate to 21% by 2014. The Bank of England (BoE) implemented an asset purchase program of up to £375 billion (approximately $605 billion) as of December 2012. During times of economic crisis, the BoE coordinates interest rate moves with the European Central Bank, but Britain remains outside the European Economic and Monetary Union (EMU). In 2012, weak consumer spending and subdued business investment weighed on the economy. GDP fell 0.1%, and the budget deficit remained stubbornly high at 7.7% of GDP. Public debt continued to increase
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Source
: CIA |
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Telephone |
No listing |
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560 HIGH
ROAD |
Fax |
- |
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LONDON |
Website |
- |
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E11 3DH |
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United Kingdom |
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Company Number: Foundation: |
08210214 11/09/2012 |
Status: |
Active - Newly Incorporated |
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No exact match CCJs are recorded against
the company.
There has been no significant change in the company’s credit
limit. No recent changes in directorship are recorded. The company is not part of a group. Newer companies are proven to be more of an insolvency risk than more established companies. The company
was established over 12 months ago.
Legal form
Private limited with Share Capital
Foundation
11/09/2012
Company No.
08210214
Name
Currency Number of shares Share type Nominal value
JABRAYILNAGHIYEV GBP
1 ORDINARY 1
Total Share
Capital GBP 1
Directors
Name Address:
Date of birth Nationality Appointment date
Jabrayil Naghiyev 45
Hamilton Terrace,
45 Hamilton
Terrace,
London NW8 9RG 10/05/1951 11/09/2012
560-564 High Road Leytonstone, London E11
3DH
SIC03 Wholesale of textiles
SIC07 Wholesale of textiles
Turnover and
Employees
Turnover Employees
Not Stated Not
Stated
Events
Company history
Date Action
13/09/2012 New Board Member
J. Naghiyev appointed
03/01/2014 Annual
Returns
County Court Judgments (CCJs)
There are no County Court Judgments listed
against this company
No financial statement filed.
No trading details have yet been published. The first financial
statement is due to be filed by 11.06.2014. We have been unable to
locate and contact this company. The address given only appears to be
used for accommodation purposes with numerous companies
registered there. The private listing for the director relates to a
number of flats and we have been unable to localise without the flat
number. Difficult to judge the present
situation and remains to be seen how it further develops
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.52 |
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1 |
Rs.101.48 |
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Euro |
1 |
Rs.84.11 |
INFORMATION DETAILS
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Report Prepared
by : |
NIS |
RATING EXPLANATIONS
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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 |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.