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Report Date : |
02.09.2014 |
IDENTIFICATION DETAILS
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Name : |
SUPREME INTERNATIONAL FZE |
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Registered Office : |
Al Jazeera Al
Hamra, RAK Free Zone, 31291 Ras Al Khaimah |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
04.04.2010 |
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Legal Form : |
Free Zone Establishment - FZE |
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Line of Business : |
Engaged in the
import and distribution of coal, minerals, metals and edible oils. |
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No. of Employees : |
4 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 – June 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
|
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
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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
|
Source
: CIA |
Company Name : SUPREME INTERNATIONAL FZE
Country of Origin : Ras Al
Khaimah,
Legal Form :
Free Zone Establishment - FZE
Registration Date : 4th
April 2010
Trade Licence
Number :
52FZ304102739
Issued Capital : UAE Dh
150,000
Paid up Capital : UAE Dh
150,000
Total Workforce : 4
Activities :
Distributors of coal, minerals, metals and edible oils.
Financial Condition : Good
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Desikan Raja
Gopalan , Senior Executive
SUPREME
INTERNATIONAL FZE
Location : Al Jazeera Al Hamra, RAK Free Zone
PO Box : 31291
Town : Ras Al Khaimah
Country :
Email : business@supremeintl.biz
Subject operates
from a small suite of offices and a warehouse that are rented and located in the
Free Zone Area of Ras Al Khaimah.
Name Position
·
Ramakrishna
Varma Meka Managing
Director
·
Desikan
Raja Gopalan Senior
Executive
Date of Establishment : 4th
April 2010
Legal Form :
Free Zone Establishment -
FZE
Trade Licence No. :
52FZ304102739 (Expires 03/04/2015)
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
·
Ramakrishna
Varma Meka 100%
·
Pan
Arabian International FZE
Saif Zone
Sharjah
·
Max
Arabian FZE
Hamriyah Free Zone
Sharjah
Activities: Engaged in the import and distribution of
coal, minerals, metals and edible oils.
Import
Countries: Europe and the
Operating Trend: Steady
Subject has a
workforce of 4 employees.
Financial
highlights provided by local sources are given below:
Currency:
Year
Ending 31/12/12: Year
Ending 31/12/13:
Total Sales US$ 112,947,000 US$ 116,486,000
Local sources
consider subject’s financial condition to be Good.
The above figures
were provided by Mr Desikan Raja Gopalan, Senior Executive
·
Emirates
National Bank of
RAK Free Zone
Ras Al Khaimah
Regular
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.60.47 |
|
|
1 |
Rs.100.42 |
|
Euro |
1 |
Rs.79.39 |
INFORMATION DETAILS
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Analysis Done by
: |
SUM |
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|
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 |
|
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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 |
|
|
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.