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Report Date : |
18.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
CFI FZCO |
|
|
|
|
Registered Office : |
Plot No. X3, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
11.01.2007 |
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|
|
|
Legal Form : |
Free Zone Company
– FZ LLC |
|
|
|
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Line of Business : |
Distributors of chemical
raw materials, personal care and food
ingredients |
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|
|
|
No of Employees : |
10 |
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 |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
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|
|
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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 |
|
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
|
Source
: CIA |
Company Name : CFI FZCO
Country of Origin :
Legal Form :
Free Zone Company – FZ LLC
Registration Date : 11th
January 2007
Trade Licence
Number : 7519
Chamber Membership
Number : 210022
Issued Capital : UAE Dh
200,000
Paid up Capital : UAE Dh
200,000
Total Workforce : 10
Activities :
Distributors of chemical raw materials, personal care and food ingredients
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
CFI FZCO
Building : Plot No. X3,
Area :
PO Box : 262006 & 6300
Town :
Country :
Telephone : (971-4) 8807471 / 3606207 / 8546885
Facsimile : (971-4) 8807472 / 3606207
Email : joyce.castillo@cfifzco.com / seif.tawfik@cfifzco.com
Subject operates
from a small suite of offices that are rented and located in the Jumeirah Lake
Towers Area of Dubai.
Name Position
·
Ahmed
Mahmoud Helmy Mohamed Abd El Meguid Managing Director
·
Wael
Ibrahim Ghanddour El Sayed Director
Date of Establishment : 11th
January 2007
Legal Form :
Free Zone Company – FZ LLC
Trade Licence No. : 7519
Chamber Member No. : 210022
Issued Capital : UAE Dh 200,000
Paid up Capital : UAE Dh 200,000
·
Ahmed
Mahmoud Helmy Mohamed Abd El Meguid
·
Wael
Ibrahim Ghanddour El Sayed
Activities: Engaged in the import and distribution of
chemical raw materials, personal care and food ingredients.
Import
Countries: Europe and the
Operating Trend: Steady
Subject has a workforce
of 10 employees.
Financial
highlights provided by local sources are given below:
Currency:
Year Ending 31/12/12: Year Ending 31/12/13:
Total Sales UAE Dh
12,600,000 UAE Dh
13,220,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Mashreq
Bank Plc
Deira Branch
PO Box: 1250
Tel: (971-4) 2229131 / 2221134
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.60.95 |
|
|
1 |
Rs.99.32 |
|
Euro |
1 |
Rs.78.97 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.