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Report Date : |
19.11.2014 |
IDENTIFICATION DETAILS
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Name : |
MEGHMANI OVERSEAS FZE |
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Registered Office : |
Hamriyah Free Zone, Sharjah |
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Country : |
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Date of Incorporation : |
08.09.2011 |
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Legal Form : |
Free Zone Establishment - FZE |
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Line of Business : |
Engaged in the import and distribution of chemical pigments, colour
for paint, dyeing and food. |
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No of Employees : |
01 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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
|
Source
: CIA |
Company Name : MEGHMANI OVERSEAS FZE
Country of Origin :
Legal Form : Free Zone Establishment - FZE
Registration Date : 8th September 2011
Trade Licence Number : 8286, Hamriyah Free Zone
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 1
Activities : Distributors of chemical pigments, colour for paint, dyeing and food.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
MEGHMANI OVERSEAS
FZE
Location : Hamriyah Free
Zone
Town : Sharjah
Country : United Arab Emirates
Location : Deira
Town :
Country : United Arab Emirates
Telephone : (971-4) 4541668
Facsimile : (971-4)
4541669
Email : admin@calculus.ae
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Dubai.
Name Position
· Ankit Patel Managing
Director
Date of
Establishment : 8th September
2011
Legal Form : Free Zone
Establishment - FZE
Trade Licence No. : 8286
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
· Meghmani Organics
Ltd 100%
Shree Nivas
Society
Paldi
Ahmedabad 380 007
Activities: Engaged in the import and distribution of chemical pigments, colour for
paint, dyeing and food.
Import Countries: Europe and the
Subject has a workforce of 1 employee.
Companies registered in
·
National Bank of Sharjah
PO Box: 4
Sharjah
Tel:
(971-6) 5547747
No complaints regarding subject’s payments have been reported.
Please note that we were unable to contact the subject directly during
our investigation.
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.61.81 |
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|
1 |
Rs.96.77 |
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Euro |
1 |
Rs.77.09 |
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
SMN |
RATING EXPLANATIONS
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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 |
|
<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.