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Report Date : |
22.07.2014 |
IDENTIFICATION DETAILS
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Name : |
JAF FZC |
|
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Registered Office : |
Rak Free Zone, |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
03.09.2006 |
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Legal Form : |
Free Zone Company |
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Line of Business : |
Subject is engaged in the import, export and distribution of nuts and
dried foods. |
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No. of Employees : |
5 |
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 |
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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 :
JAF FZC
Country of Origin :
Ras Al Khaimah,
Legal Form :
Free Zone Company - FZC
Registration Date :
3rd September 2006
Trade Licence Number :
2044
Issued Capital : UAE Dh 1,000,000
Paid up Capital :
UAE Dh 1,000,000
Total Workforce :
5
Activities :
Distributor of nuts and dried foods.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Person Interviewed :
Jai Krishnan Agrawal, Managing Director
JAF FZC
Registered Address
Location : RAK Free Zone
PO Box : 10559
Town : Ras Al
Khaimah
Country :
Telephone : (971-4) 1111111
Facsimile : (971-4)
1111111
Physical Address
Building :
Area :
PO Box : 6946
Town :
Country :
Telephone : (971-4) 4305178
/ 4528968
Facsimile : (971-4)
4528968
Email : jaiagrawalla@gmail.com / info@fazfxc.com / info@jaffzc.com
Please note that subject’s previous address was, 3008
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Dubai.
Name Nationality Position
Jai Krishnan Agrawal Indian Managing
Director
Al Filatof - Director
Date of Establishment : 3rd
September 2006
Legal Form :
Free
Zone Company - FZC
Trade Licence No. : 2044 (Expires
04/09/2014)
Issued Capital : UAE Dh 1,000,000
Paid up Capital :
UAE
Dh 1,000,000
Name of
Shareholder (s) Percentage
Jai Krishnan Agrawal 50%
Al Filatof 50%
Activities : Engaged in the
import, export and distribution of nuts and dried foods.
Import Countries : Europe and the
Principal
Suppliers:
Bambay Foodstuff
Kamrup Ltd
Operating Trend: Steady
Subject has a workforce of 5 employees.
Financial highlights provided by local sources are given below:
Currency:
Year Ending 31/12/12: Year Ending 31/12/13:
Total Sales UAE Dh 13,300,000 UAE Dh 13,950,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
Mashreq Bank Plc
Deira Branch
PO Box: 1250
Tel: (971-4) 2229131 / 2221134
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.60.18 |
|
|
1 |
Rs.102.87 |
|
Euro |
1 |
Rs.81.48 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
TPT |
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.