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Report Date : |
20.03.2014 |
IDENTIFICATION DETAILS
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Name : |
METRA COMPUTER GROUP FZCO |
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Registered Office : |
Business Centre, Office
No. 703, Khalid Bin Walid Street, P O Box 61188, Dubai |
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Country : |
United Arab Emirates |
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Financials (as on) : |
31.12.2013 (Consolidated) |
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Date of Incorporation : |
19.04.1999 |
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Com. Reg. No.: |
11802, Dubai |
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Legal Form : |
Free Zone Company |
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Line of Business : |
importer and distributor of computers and related
accessories. |
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No. of Employees |
30 |
RATING & COMMENTS
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MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
US$ 60,000,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
United Arab
Emirates |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
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 $10 billion loan
from the emirate of Abu Dhabi. Dependence on oil, a large expatriate workforce,
and growing inflation pressures are significant long-term challenges. The UAE's
strategic plan for the next few years focuses on diversification and creating
more opportunities for nationals through improved education and increased
private sector employment.
|
Source : CIA |
Company Name : METRA COMPUTER GROUP FZCO
Country of Origin : Dubai, United Arab Emirates
Legal Form : Free Zone Company - FZCO
Registration Date : 19th April 1999
Commercial Registration Number : 11802, Dubai
Trade Licence Number : 2204
Chamber Membership Number : 46612
Issued Capital : UAE Dh 500,000
Paid up Capital : UAE Dh 500,000
Total Workforce : 30
Activities : Distributors of computers and related accessories.
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 60,000,000
Person Interviewed : Tariq Mohamed Ali, Logistics Manager
METRA COMPUTER
GROUP FZCO
Registered &
Physical Address
Location : Business Centre, Office No. 703
Street : Khalid Bin Walid Street
PO Box : 61188
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 8863360 / 8863361
/ 8863362 / 8833161
Facsimile : (971-4) 8863656 / 8833171
Mobile : (971-55) 2235580 / 2235560
Email : t_ali@metragroup.com
Please note that subject’s
previous address was, Plot No. 20601A, Sheikh Zayed Road, Jebel Ali Free Zone,
Dubai.
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Dubai.
Name Nationality Position
·
Tariq Ahmed Essa Hassan Egyptian Managing Director
·
Mohamed
Tariq Ahmed Essa Hassan Egyptian Director
·
Tariq
Mohamed Ali - Logistics
Manager
·
Mosaad Farooq - Human
Resources Manager
·
Hassan
Abdul Basit - Finance Manager
·
Abdul Hameed Kadry - Financial
Controller
·
N C Ameraish - Accountant
Date of Establishment : 19th
April 1999
Legal Form :
Free Zone Company - FZCO
Commercial Reg. No. : 11802, Dubai
Trade Licence No. : 2204
(Expires 31/12/2014)
Chamber Member No. : 46612
Issued Capital : UAE Dh 500,000
Paid up Capital : UAE Dh 500,000
Name of
Shareholder (s)
·
Metra
Computer Group
Egypt
·
S-Mart
Distribution FZE
Jebel Ali Free
Zone
Dubai
·
Metra
Computer LLC
Dubai
Tel: (971-4) 3170800
Fax: (971-4) 3961987
Activities: Engaged in the import and distribution of
computers and related accessories.
Import
Countries: Europe, the Far
East and the United States of America
Operating Trend: Steady
Subject has a
workforce of 30 employees.
No financial
information was released by the company or submitted by outside sources.
However the
consolidated turnover figure for the year ending 31st December 2013
was US$ 748,000,000
·
Commercial
Bank of Dubai
Baniyas Street
Deira
PO Box: 1709
Dubai
Tel: (971-4) 2227121 / 2253222
Fax: (971-4) 2220943 / 2254565
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.61.09 |
|
|
1 |
Rs.101.41 |
|
Euro |
1 |
Rs.85.08 |
INFORMATION DETAILS
|
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 |
|
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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 |
|
|
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 |
|
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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 |
|
|
<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.