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Report Date : |
2.09.2014 |
IDENTIFICATION DETAILS
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Name : |
BMA INTERNATIONAL FZE |
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Registered Office : |
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Country : |
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Date of Incorporation : |
13.03.2000 |
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Legal Form : |
Free Zone Establishment |
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Line of Business : |
Subject is engaged in the import and distribution of electrical appliances, foodstuffs, stationery, toys, tools and readymade garments. |
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No. of Employees : |
35 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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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 : |
Satisfactory |
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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 |
|
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 :
BMA INTERNATIONAL FZE
Country of Origin :
Legal Form :
Free Zone Establishment - FZE
Registration Date :
13th March 2000
Trade Licence Number :
3518
Chamber Membership Number :
58262
Issued Capital :
UAE Dh 1,000,000
Paid up Capital :
UAE Dh 1,000,000
Total Workforce :
35
Activities :
Distributors of electrical appliances, foodstuffs, stationery, toys, tools and readymade
garments.
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed :
Muzamil Hussain, Accountant
BMA INTERNATIONAL FZE
Registered &
Physical Address
Street :
Area :
Jebel Ali Free Zone
PO Box :
17474
Town :
Country :
Telephone :
(971-4) 8169777
Facsimile :
(971-4) 8833344
Email :
bma@bma.ae / bma@bmaintl.com
Premises
Subject operates from a medium sized suite of offices and a warehouse
that are rented and located in the Jebel Ali Free Zone.
Name Nationality Position
·
Mohamed Arif Al Shaikh Indian Managing
Director
·
Javid Shaikh - Chief
Financial Officer
·
Mohamed Saad - Finance
Manager
·
Pranav Shanker - Commercial
Manager
·
Muzamil Hussain - Accountant
Date of Establishment : 13th
March 2000
History : Subject began in
2000 and was originally owned by “Palmon (UAE) Ltd” of
Ltd”
was replaced by “BMA International EC” of
Legal Form :
Free
Zone Establishment - FZE
Trade Licence No. : 3518
Chamber Member No. : 58262
Issued Capital : UAE Dh 1,000,000
Paid up Capital :
UAE
Dh 1,000,000
Name of
Shareholder (s) Percentage
BMA International EC 100%
·
Red Tag Fashion
·
Giant Hypermarkets
·
24 Fashion LLC
Activities : Engaged in the
import and distribution of electrical appliances, foodstuffs, stationery, toys,
tools and readymade garments.
Import Countries : Europe and the
Subject has a workforce of 35 employees.
Companies registered in
HSBC Bank
Deira Souk Branch
PO Box: 66
Tel: (971-4) 2535000
No complaints regarding subject’s payments have been reported.
Date of transaction May
2014
Credit amount 300,000
Amount overdue 0
Payment terms 90
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency Euros
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.60.80 |
|
|
1 |
Rs.100.06 |
|
Euro |
1 |
Rs.78.46 |
INFORMATION DETAILS
|
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 |
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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 |
|
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 |
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<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.