|
Report Date : |
15.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
SOLUTRONIX TRADING FZE |
|
|
|
|
Registered Office : |
Building Centre BC4 Ras Al
Khaimah Free Trade Zone |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
10.03.2010 |
|
|
|
|
Legal Form : |
Free Zone Establishment - FZE |
|
|
|
|
Line of Business : |
Engaged in the provision of IT, automation and system integrator
solutions and products |
|
|
|
|
No. of Employees |
02 |
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 |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
Slow but correct |
|
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) |
|
UAE |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
UAE 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 : SOLUTRONIX TRADING FZE
Country of Origin : Ras Al Khaimah, United Arab Emirates
Legal Form : Free Zone Establishment - FZE
Registration Date : 10th March 2010
Trade Licence Number : 5004926
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Total Workforce : 2
Activities : Providers of IT, automation and system integrator solutions and products
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : Nadim Malik, Managing Director
SOLUTRONIX TRADING FZE
Building : Building
Centre BC4
Area : Ras Al
Khaimah Free Trade Zone
PO Box : 16111
Town : Ras Al
Khaimah
Country : United Arab
Emirates
Telephone : (971-7) 2046403
Facsimile : (971-7)
2040046
Mobile : (971-50)
1297975
Email : sales@solutronixfze.com
Subject operates from a small suite of offices that are rented and located
in the Free Trade Zone Area of Ras Al Khaimah.
Name Nationality Position
· Nadim Malik Pakistani Managing
Director
· Shavinder Roy - General
Manager
Date of
Establishment : 10th March
2010
Legal Form : Free Zone
Establishment - FZE
Trade Licence No. : 5004926
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
· Nadim Malik 100%
Activities: Engaged in the provision of IT, automation and system integrator
solutions and products.
Import Countries: Europe and the Far East
Subject has a workforce of 2 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.
·
National Bank of Ras Al Khaimah
NBRAK Building
PO Box: 5300
Ras Al Khaimah
Tel: (971-7)
2221127
Fax: (971-7)
2224202
No complaints regarding subject’s payments have been reported.
According to local sources, subject meets its payment obligations in a
timely manner and the company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.01 |
|
|
1 |
Rs.102.72 |
|
Euro |
1 |
Rs.81.60 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NIS |
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.