|
Report Date : |
29.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
LUCKY GOLDSTAR
INDUSTRIES FZC |
|
|
|
|
Registered Office : |
Saif Zone, P O
Box 8071, Sharjah |
|
|
|
|
Country : |
United Arab Emirates |
|
|
|
|
Date of Incorporation : |
25.02.2013 |
|
|
|
|
Legal Form : |
Free Zone Company |
|
|
|
|
Line of Business : |
importer and distributor of refrigeration
equipment and related spare parts. |
|
|
|
|
No of Employees : |
02 |
RATING & COMMENTS
|
MIRA’s Rating : |
NB |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
-- |
NB |
New Business |
-- |
|
Status : |
New Company |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
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 : LUCKY GOLDSTAR INDUSTRIES FZC
Country of Origin : Sharjah, United Arab Emirates
Legal Form : Free Zone Company - FZC
Registration Date : 25th February 2013
Trade Licence Number : 12003, Saif Zone
Issued Capital : UAE Dh 250,000
Paid up Capital : UAE Dh 250,000
Total Workforce : 2
Activities : Distribution of refrigeration equipment
Financial Condition : Undetermined
Payments : Unknown
LUCKY GOLDSTAR
INDUSTRIES FZC
Registered &
Physical Address
Location : Saif Zone
PO Box : 8071
Town : Sharjah
Country : United Arab Emirates
Mobile : (971-50) 6560921 / (971-55) 6337257
/ (971-52) 9800301
Email : ceo@icebergindustries.net / lgsi.info@gmail.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Saif Zone Area
of Sharjah.
Name Position
·
Imran
Jameel Managing
Director
·
Absar
Ahmed Director
Date of Establishment : 25th
February 2013
Legal Form :
Free Zone Company - FZC
Trade Licence No. : 12003
(Expires 19/05/2015)
Issued Capital : UAE Dh 250,000
Paid up Capital : UAE Dh 250,000
Name of Shareholder
(s)
·
Imran
Jameel
·
Absar
Ahmed
Activities: Engaged in the import and distribution of refrigeration
equipment and related spare parts.
Subject has a
workforce of 2 employees.
Subject is a newly
formed business and as a result financial information is not currently
available.
·
National
Bank of Sharjah
Al Boorj Avenue
PO Box: 4
Sharjah
Tel: (971-6) 5547747
Unknown
Please note that we
were unable to make direct contact with the subject during this investigation.
In view of subject’s
infancy, extensive payment and financial are not available, therefore dealings
are recommended to be on secured terms, and a close monitoring of subject’s
business development is advisable.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.08 |
|
|
1 |
Rs.99.20 |
|
Euro |
1 |
Rs.80.53 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.