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Report Date : |
08.07.2014 |
IDENTIFICATION DETAILS
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Name : |
TENSOSYS FZCO |
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Registered Office : |
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Country : |
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Date of Incorporation : |
01.01.2004 |
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Legal Form : |
Free Zone Company |
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Line of Business : |
Subject is engaged in the import and distribution of telecommunication
equipment, wireless and instrument equipment, ports and marine guide
equipment. |
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No. of Employees : |
8 |
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 : |
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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
|
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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 :
TENSOSYS FZCO
Country of Origin :
Legal Form :
Free Zone Company - FZCO
Registration Date :
1st January 2004
Trade Licence Number :
4393,
Chamber Membership Number :
88249
Issued Capital :
UAE Dh 500,000
Paid up Capital :
UAE Dh 500,000
Total Workforce :
8
Activities :
Distribution of telecommunication equipment, wireless and instrument
equipment, ports and marine guide equipment
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
TENSOSYS FZCO
Registered &
Physical Address
Street :
Area : Shed No. RA8
MB6, Jebel Ali Free Zone
PO Box : 18410
Town :
Country :
Telephone : (971-4) 8830233
/ 3247502
Facsimile : (971-4)
8830133 / 3240608
Email : tensosysfzco@tensosys.biz
Premises
Subject operates from a small suite of offices that are rented and
located in the Jebel Ali Free Zone Area of Dubai.
Name Nationality Position
Seetha Sagaran Indian Managing Director
Sanjay Raghunath Indian Director
Cheruparambath Prabhakara Menon Vidya Sagaran Indian Director
Indira Thottungal Parambath Indian Director
Date of Establishment : 1st January 2004
Legal Form : Free Zone Company
- FZCO
Trade Licence No. : 4393 (Expires 13/06/2015)
Chamber Member No. : 88249
Issued Capital : UAE Dh 500,000
Paid up Capital : UAE Dh 500,000
Name of Shareholder
(s) Percentage
Seetha Sagaran 40%
Sanjay Raghunath 20%
Cheruparambath Prabhakara Menon Vidya Sagaran 20%
Indira Thottungal Parambath 20%
Activities: Engaged in the import and
distribution of telecommunication equipment, wireless and instrument equipment,
ports and marine guide equipment.
Subject is ISO 9001:14001 and 9001:18001
accredited.
Import Countries: Europe
and the
Subject has a workforce of 8 employees.
Companies registered in
Banque Paribas
PO Box: 7233
Tel: (971-4) 2525929
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.59.95 |
|
|
1 |
Rs.102.78 |
|
Euro |
1 |
Rs.81.39 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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Report Prepared
by : |
NNA |
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.