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Report Date : |
24.05.2014 |
IDENTIFICATION DETAILS
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Name : |
ORACLE GENERAL TRADING FZE (OGT) |
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Registered Office : |
Ajman Free Zone, Office No. D-17, Ajman |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
21.02.2003 |
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Legal Form : |
Free Zone Establishment - FZE |
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Line of Business : |
Engaged in the import and export of jewellery, diamonds and other precious stones. Subject also operates a general trade licence and distributes computer hardware equipment. Subject plans to gain a separate licence for its computer activities in the next two months. |
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No. of Employees |
3 |
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 |
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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 |
|
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 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 : ORACLE GENERAL TRADING FZE (OGT)
Country of Origin : Ajman,
United Arab Emirates
Legal Form :
Free Zone Establishment - FZE
Registration Date : 21st
February 2003
Trade Licence
Number : 1130, Ajman Free Zone
Issued Capital : UAE Dh
150,000
Paid up Capital : UAE Dh
150,000
Total Workforce : 3
Activities :
Distributors of jewellery, diamonds and other precious stones. Subject also
distributes computer hardware equipment.
Financial Condition : Undetermined
Payments : Nothing
detrimental uncovered
Person Interviewed : Santosh
Kumar, Commercial Manager
ORACLE GENERAL
TRADING FZE (OGT)
Location : Ajman Free Zone, Office No. D-17
Town : Ajman
Country : United Arab Emirates
Telephone : (971-6) 7423944
Building : Rak Business Centre Building,
Office No.102, 1st Floor
Area : Gold Souq, Deira
PO Box : 64834
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2295691
Facsimile : (971-4) 2295690
Mobile : (971-50) 4248074 / (971-55)
7657117
Email : orjtrd@yahoo.com
Please note that
subject’s previous address was, 214 Gold Land Building, 2nd Floor,
Deira, Al Khor, Dubai.
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Dubai.
Name Nationality Position
·
Pankaj
Kapur Krishnan Kumar Kapur Indian Managing
Director
·
Santosh
Kumar - Commercial
Manager
·
Jagdesh
Thanki - Administration
Manager
Date of Establishment : 21st
February 2003
Legal Form :
Free Zone Establishment -
FZE
Trade Licence No. : 1130 (Expires 22/02/2015)
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
·
Pankaj
Kapur Krishnan Kumar Kapur 100%
·
Diastone
LLC
214 Gold Land Building, 2nd Floor
Deira
PO Box: 16067
Dubai
Tel: (971-4) 2295691
Fax: (971-4) 2295690
Email: diastone@gmail.com
Mem. No. 91568
Activities: Engaged in the import and export of jewellery, diamonds and other precious stones. Subject also operates a general trade licence and distributes computer hardware equipment. Subject plans to gain a separate
licence for its computer
activities in the next two months.
Import
Countries: Europe and the
Far East.
Subject has a
workforce of 3 employees.
Companies registered
in Ajman, 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.
·
Habib
Bank Ltd
Murshid Bazaar
PO Box: 888
Dubai
Tel: (971-4) 2221281
Fax: (971-4) 2284631
·
Mashreq
Bank Plc
Deira Branch
PO Box: 1250
Dubai
Tel: (971-4) 2229131 / 2221134
Fax: (971-4) 2233784
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.58.48 |
|
|
1 |
Rs.98.67 |
|
Euro |
1 |
Rs.79.80 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
PDT |
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.