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Report Date : |
24.09.2014 |
IDENTIFICATION DETAILS
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Name : |
RAINBOW TRADING FZE |
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Registered Office : |
Saif Zone,
Executive Suite, Plot No. NE4/32, 9628 Sharjah |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
12.01.2010 |
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Legal Form : |
Free Zone Establishment - FZE |
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Line of Business : |
Engaged in the
import and distribution of fibres, yarns, polymers and plastics. |
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No. of Employees : |
1 |
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 |
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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 : RAINBOW TRADING FZE
Country of Origin :
Legal Form :
Free Zone Establishment - FZE
Registration Date : 12th
January 2010
Trade Licence
Number : 07729
Issued Capital : UAE Dh
150,000
Paid up Capital : UAE Dh
150,000
Total Workforce : 1
Activities :
Distributors of fibres, yarns, polymers and plastics
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
RAINBOW TRADING FZE
Location : Saif Zone, Executive Suite, Plot
No. NE4/32
PO Box : 9628
Town : Sharjah
Country :
Telephone : (971-6) 5574170
Facsimile : (971-6) 5574170
Email : info@rainbowfze.com
Subject operates
from a small suite of offices that are rented and located in the Saif Zone Area
of Sharjah.
Name Nationality Position
·
Malav
Koshek Sarkar Indian Managing
Director
Date of Establishment : 12th
January 2010
Legal Form :
Free Zone Establishment -
FZE
Trade Licence No. : 07729
(Expires 08/01/2015)
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
·
Malav
Koshek Sarkar 100%
Activities: Engaged in the import and distribution of
fibres, yarns, polymers and plastics.
Import
Countries:
International Suppliers:
·
·
Jeng
Dong for Rubber
Operating Trend: Steady
Subject has a
workforce of 1 employee.
Financial
highlights provided by local sources are given below:
Currency:
Year
Ending 31/12/12: Year
Ending 31/12/13:
Total Sales UAE Dh 7,600,000 UAE Dh 7,925,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Standard
Chartered Bank
PO Box: 5
Sharjah
Tel: (971-6) 5357788
Fax: (971-6) 5543604
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.60.87 |
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|
1 |
Rs.99.63 |
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Euro |
1 |
Rs.78.22 |
INFORMATION DETAILS
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Analysis Done by
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KAR |
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Report Prepared
by : |
PDT |
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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
-- |
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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.