|
Report Date : |
11.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
INTERACTIVE
CONSULTING FZC |
|
|
|
|
Registered Office : |
Building C1,
Office No. 813 & 814, Ajman Free Zone, P O Box 21093, Ajman |
|
|
|
|
Country : |
United Arab Emirates |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
01.12.2006 |
|
|
|
|
Legal Form : |
Free Zone Company |
|
|
|
|
Line of Business : |
importer and distributor of IT and communication
products, software and hardware as well as providing consulting services. |
|
|
|
|
No of Employees : |
06 |
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 : |
No Complaints |
|
|
|
|
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 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate 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 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 : INTERACTIVE CONSULTING FZC
Country of Origin : Ajman, United Arab Emirates
Legal Form : Free Zone Company - FZC
Registration Date : 1st December 2006
Trade Licence Number : 3562
Issued Capital : UAE Dh 185,000
Paid up Capital : UAE Dh 185,000
Total Workforce : 6
Activities : Distributors of IT and communication products, software and hardware
as well as providing consulting services.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Person Interviewed : Oais Mahmoud, Finance Manager
INTERACTIVE
CONSULTING FZC
Registered Address
Building : Building C1, Office
No. 813 & 814
Area : Ajman Free Zone
PO Box : 21093
Town : Ajman
Country : United Arab Emirates
Telephone : (971-6) 7441641 / 7479260
Facsimile : (971-6) 7441647
Mobile : (971-50) 8695568
Email : soheil.nezir@iacgrp.com / awais.mahmood@oacgrp.com / sohail.nazir@iacgrp.com
Physical Address
Building : 2609 Tiffany Tower, Cluster W
Area :
Jumeirah Lakes Towers
PO Box :
50769
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 4405908 / 4390617
Fax :
(971-4) 4315088
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Dubai.
Name Nationality Position
·
Shahid
Mahmoud Pakistani Managing
Director
·
Tariq
Hafiz Malik Pakistani Director
·
Nareen
Gul Mahmoud Pakistani Director
·
Soheil
Nezir - Purchasing
Manager
·
Oais
Mahmoud - Finance
Manager
Date of Establishment : 1st
December 2006
Legal Form :
Free Zone Company - FZC
Trade Licence No. : 3562
Issued Capital : UAE Dh 185,000
Paid up Capital : UAE Dh 185,000
Name of Shareholder
(s) Percentage
·
Shahid
Mahmoud 50%
·
Tariq
Hafiz Malik 25%
·
Nareen
Gul Mahmoud 25%
·
Dialogue Broadband FZC
Ajman
·
Interactive
Communication JLT
Dubai
·
Interactive
E Solution JLT
Dubai
Activities: Engaged in the import and distribution of IT
and communication products, software and hardware as well as providing
consulting services.
Import
Countries: Europe and the
Far East.
Suppliers:
·
Westcon MEA Dubai
Subject has a
workforce of 6 employees.
Financial highlights provided by local
sources are given below:
Currency: United
Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/12: Year Ending
31/12/13:
Total Revenue UAE Dh 36,250,000 UAE Dh 38,000,000
Local sources
consider subject’s financial condition to be Fair.
The above figures were provided by Mr. Oais Mahmoud, Finance Manager
·
National
Bank of Abu Dhabi
Main Street
PO Box: 988
Ajman
Tel: (971-6) 5422996
Fax: (971-6) 5425750
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.59.26 |
|
|
1 |
Rs.99.63 |
|
Euro |
1 |
Rs.80.59 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
MNL |
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.