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Report Date : |
24.01.2014 |
IDENTIFICATION DETAILS
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Name : |
GETRONICS MIDDLE EAST FZ LLC |
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Registered Office : |
Office No. G-06,
Building No. 14, Dubai Technology and Media Free Zone, P O Box 25123, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
31.12.1997 |
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Legal Form : |
Free Zone Limited Liability Company |
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Line of Business : |
Engaged as
network solution providers and system integrators and management. |
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No. of Employees : |
10 |
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 : GETRONICS MIDDLE EAST FZ LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Free Zone Limited Liability Company – FZ LLC
Registration Date : 31st December 1997
Trade Licence Number : 19797
Issued Capital : UAE Dh 100,000
Paid up Capital : UAE Dh 100,000
Total Workforce : 10
Activities : Network solution providers and system integrators and management
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : Radwan Al Khaldi, Financial Controller
GETRONICS MIDDLE
EAST FZ LLC
Registered &
Physical Address
Building : Office No. G-06, Building No. 14
Area : Dubai Technology and Media
Free Zone
PO Box : 25123
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3904079 / 3904480
Facsimile : (971-4) 3912901
Mobile : (971-50) 6407898
Email : sam.tayan@getronics.com / asim.parvez@agcninternational.com
Premises
Subject operates from
a small suite of offices that are rented and located in the Central Business
Area of Dubai.
Name Position
·
Faisal
Rao Managing
Director
·
Asim
Parvez General
Manager
·
Radwan
Al Khaldi Financial
Controller
Date of Establishment : 31st
December 1997
Legal Form :
Free Zone Limited Liability
Company – FZ LLC
Trade Licence No. : 19797
Issued Capital : UAE Dh 100,000
Paid up Capital : UAE Dh 100,000
Name of
Shareholder (s)
·
Mohamed
Al Balaa
·
Advance
Global Communication Network LLC
Building No. 4, Ground Floor, Office No. 6
Dubai Internet City
PO Box: 25123
Dubai
Tel: (971-4) 3904480
Fax: (971-4) 3912901
Subject is a member of the Getronics group of companies which consists
on the following concerns:
·
Getronics
NV
Donauweg 10
PO Box : 652
1000 AR Rotterdam
Netherlands
Tel: (31-20) 5861412
Fax: (31-20) 5861568
·
Getronics
Austlink Corporate Park
2 Minna Close
Belrose NSW 2085
Australia
Tel: (61-2) 98477100
Fax: (61-2) 94501816
·
Getronics
Austria GmbH
Breitenfurter Strasse 317-319
A 1230 Wien
Austria
Tel: (43-1) 86694100
Fax: (43-1) 86694103
·
Getronics
Belux
Place Madouplein 1
B 1210 Brussels
Belgium
Tel: (32-2) 2299111
Fax: (32-2) 2299200
·
Getronics
Rua Laguna 563
Santo Amaro
Sao Paulo
Brazil
Tel: (55-11) 56442706
Fax: (55-11) 56417581
·
Getronics
150 Middlefield Road
Scarborough
Ontario
Canada
Tel: (1-416) 2989400
Fax: (1-416) 4124834
·
Getronics
Suecia 176
Providencia
Santiago
Chile
Tel: (56-2) 5205300
Fax: (56-2) 2318551
·
Getronics
Calle 100
WTC Torre C
Santafe de Bogota
Colombia
Tel: (57-1) 6381800
Fax: (57-1) 6381830
·
Getronics
Rue du General Leclerc
92047 Paris la Defense Cedex
France
Tel: (33-1) 49067111
Fax: (33-1) 49067500
·
Getronics
(Deutschland) GmbH
Am Prime Parc 10-12
65479 Raunheim
Germany
Tel: (49-0) 61429250
Fax: (49-0) 6142925100
·
Getronics
16F 625 King’s Road
North Point
Hong Kong
Tel: (852) 29792888
Fax: (852) 28907482
·
Getronics
Solutions Italia SpA
Via Lorenteggio 257
20152 Milan
Italy
Tel: (39-2) 48361
Fax: (39-2) 48362913
·
Getronics
Old Airport Road
PO Box: 2645
Riyadh 11461
Saudi Arabia
Tel: (966-1) 4740555
Fax: (966-1) 4741854
·
Getronics
1 International Business Park
2-14 The Synergy
Singapore 609917
Tel: (65) 8902828
Fax: (65) 5668578
·
Getronics
South Africa (Pty) Ltd
PO Box: 1396
Block G Metlife Office Park
82 Wessel Road
Rivonia 2128
South Africa
Tel: (27-11) 2574000
Fax: (27-11) 2574200
·
Getronics
Spain
Place de la Castellana 95 Torre Europa
28046 Madrid
Spain
Tel: (34-91) 5039600
Fax: (34-91) 5039660
·
Getronics
UK Ltd
86-88 Upper Richmond Road
London SW15 2UR
United Kingdom
Tel: (44-20) 87856666
Fax: (44-20) 88743014
·
Getronics
US
290 Concord Road
Billerica, MA 01821-4130
United States of America
Tel: (1-978) 6255000
Fax: (1-978) 6254020
·
Getronics
Avenida Francisco de Miranda
Urbanizacion El Rosal
Caracas
Venezuela
Tel: (58-2) 9522211
Fax: (58-2) 9521880
Activities: Engaged as network solution providers and
system integrators and management.
Subject has a
workforce of 10 employees.
Companies
registered in Dubai, 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.
·
Habib
Bank Ltd
Murshid Bazaar
PO Box: 888
Dubai
Tel: (971-4) 2221281
Fax: (971-4) 2284631
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.61.99 |
|
|
1 |
Rs.102.67 |
|
Euro |
1 |
Rs.83.98 |
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.