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Report Date : |
03.06.2014 |
IDENTIFICATION DETAILS
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Name : |
ORIENT TRADE INTERNATIONAL FZE |
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Registered Office : |
Hamriyah Free Zone, Plot No. 24 G-16, PO Box : 41964, Sharjah |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
19.03.2006 |
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Legal Form : |
Free Zone Establishment |
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LINE OF BUSINESS : |
SUBJECT
IS ENGAGED IN THE IMPORT AND EXPORT OF READYMADE GARMENTS, CARPETS AND
HANDICRAFTS. |
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No. of Employees : |
1 |
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) |
|
United Arab Emirates |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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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 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 :
ORIENT TRADE INTERNATIONAL FZE
Country of Origin :
Sharjah, United Arab Emirates
Legal Form :
Free Zone Establishment - FZE
Registration Date :
19th March 2006
Trade Licence Number :
1652
Issued Capital :
UAE Dh 1,000,000
Paid up Capital :
UAE Dh 1,000,000
Total Workforce :
1
Activities :
Import and export of readymade garments, carpets and handicrafts.
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed :
Sanjay Kumar, Managing Director
ORIENT TRADE
INTERNATIONAL FZE
Registered &
Physical Address
Location : Hamriyah Free Zone,
Plot No. 24 G-16
PO Box : 41964
Town : Sharjah
Country : United Arab
Emirates
Telephone : (971-6) 3372525
Facsimile : (971-6)
3372525
Mobile : (971-50)
4827013
Email : orientfze@sify.com
Premises
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Hamriyah Free Zone Area of Sharjah.
Name Nationality Position
Sanjay Kumar Indian Managing
Director
Date of Establishment : 19th March 2006
Legal Form : Free Zone
Establishment - FZE
Trade Licence No. : 1652
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Name of
Shareholder (s) Percentage
Sanjay Kumar 100%
Activities: Engaged in the
import and export of readymade garments, carpets and handicrafts.
Import Countries: Europe and India.
International
Suppliers:
KAKA Overseas Ltd India
Shoba Woollen India
Subject has a workforce of 1 employee.
Companies registered in Sharjah, 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.
Sharjah Islamic Bank
PO Box: 4
Sharjah
Tel: (971-6) 5680101
Fax: (971-6) 5681000
Acc No. 0032191370001
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.59.14 |
|
|
1 |
Rs.99.02 |
|
Euro |
1 |
Rs.80.63 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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Report Prepared
by : |
NNA |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>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 |
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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 |
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41-55 |
Ba |
Overall operation
is considered normal. Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.