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Report Date : |
22.11.2014 |
IDENTIFICATION DETAILS
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Name : |
KAMSONS MIDDLE |
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Registered Office : |
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Country : |
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Date of Incorporation : |
24.05.2006 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Import and
distribution of paper, paint, chemicals and general merchandise. |
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No. of Employees : |
4 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 : |
Slow but correct |
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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) |
|
|
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
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
|
Source
: CIA |
Company Name : KAMSONS
MIDDLE
Country of Origin :
Legal Form :
Limited Liability Company
Registration Date : 24th
May 2006
DMCC Number : 32599
Trade Licence
Number : 6845
Membership Number : 3090
Issued Capital : UAE Dh
500,000
Paid up Capital : UAE Dh
500,000
Total Workforce : 4
Activities :
Distributors paper, paint, chemicals and general merchandise.
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
KAMSONS MIDDLE
Location :
PO Box : 450125
Town :
Country :
Telephone : (971-4) 4385580
Facsimile : (971-4) 4385582
Email : info@kamsons.ae / kamgulf@gmail.com
Please note that
subject’s previous address was, LOB 14416, Jebel Ali Free Zone,
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Dubai.
Name Nationality Position
·
Kamran
Shafiq Pakistani Managing
Director
·
Fahima
Kamran Pakistani Director
·
Michael
Dsmonti - Administration
Executive
Date of Establishment : 24th
May 2006
History
: Subject began in 2006 as a Free Zone
Company called “Kamsons Middle East FZCO”.
However on 8th November 2012 it re-registered as a DMCC
company called “Kamsons
Middle
Legal Form :
Limited Liability Company
DMCC
No. : 32599
Trade Licence No. : 6845
Membership
No. : 3090
Issued Capital : UAE Dh 500,000
Paid up Capital : UAE Dh 500,000
·
Kamran
Shafiq 50%
·
Fahima
Kamran 50%
Activities: Engaged in the import and distribution of
paper, paint, chemicals and general merchandise.
Import
Countries: Europe and the
Subject has a
workforce of 4 employees.
Companies
registered in
·
Standard
Chartered Bank
PO Box: 999
Tel: (971-4) 2520455
·
HSBC
Bank
Deira Souk Branch
PO Box: 66
Tel: (971-4) 2535000
Slow but correct
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.61.85 |
|
|
1 |
Rs.97.01 |
|
Euro |
1 |
Rs.77.62 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
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Report Prepared
by : |
NIT |
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.