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Report Date : |
02.06.2014 |
IDENTIFICATION DETAILS
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Name : |
PAN INTERNATIONAL DMCC |
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Registered Office : |
Al |
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Country : |
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Date of Incorporation : |
29.06.2004 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Import and distribution of jewellery, gold and loose diamonds |
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) |
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UAE |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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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 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.
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Source
: CIA |
Company Name : PAN INTERNATIONAL DMCC
Country of Origin :
Legal Form : Limited Liability Company
Registration Date : 29th June 2004
Trade Licence Number : 30072
Chamber Membership Number : 0081
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 3
Activities : Import and distribution of jewellery, gold and loose diamonds
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Bou Malik Deepak Shah, General Manager
PAN INTERNATIONAL
DMCC
Building : Al
Street :
PO Box : 182087
Town :
Country :
Telephone : (971-4) 2291848
Facsimile : (971-4) 2291886
Email : pan.int@hotmail.com
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Dubai.
Name Position
·
Paras
Shareya Shah Managing
Director
·
Bou
Malik Deepak Shah General
Manager
Date of Establishment : 29th
June 2004
Legal Form :
Limited Liability Company
Trade Licence No. : 30072
Chamber Member No. : 0081
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
·
Paras
Shareya Shah 100%
Activities: Engaged in the import and distribution of
jewellery, gold and loose diamonds.
Import
Countries: Europe and the
Operating Trend: Steady
Subject has a
workforce of 3 employees.
Financial
highlights provided by local sources are given below:
Currency:
Year
Ending 31/12/08: Year Ending
31/12/09:
Total Sales UAE Dh 8,700,000 UAE Dh 9,500,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures were confirmed by Bou Malik Deepak Shah, General Manager.
·
Commercial
Bank of
Deira
PO Box: 1709
Tel: (971-4) 2227121 / 2253222
Fax: (971-4) 2220943 / 2254565
No complaints
regarding subject’s payments have been reported.
Established in
2004, subject is involved in the import and distribution of jewellery, gold and
loose diamonds.
Local sources
report that the subject’s operating history is clear with payment obligations
met in a generally timely manner. The financial position is satisfactory and
the company is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 59.03 |
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|
1 |
Rs. 98.91 |
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Euro |
1 |
Rs. 80.33 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.