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Report Date : |
30.09.2014 |
IDENTIFICATION DETAILS
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Name : |
HACO TRADING FZC |
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Registered Office : |
Block F-1, Office No. SM Office F1-223B, Ajman Free Zone, |
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Country : |
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Date of Incorporation : |
11.06.2013 |
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Legal Form : |
Free Zone Company - FZC |
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Line of Business : |
Engaged in the import and export of telecommunication products, including
modern, fibre optics, routers, testing equipment, measuring devices and
related accessories |
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No of Employees : |
2 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
-- |
NB |
New
Business |
-- |
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Status : |
New Business |
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Payment Behaviour : |
Unknown |
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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 |
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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 : HACO TRADING FZC
Country of Origin :
Legal Form :
Free Zone Company - FZC
Registration Date :
11th June 2013
Trade Licence Number :
8493
Issued Capital :
UAE Dh 1,000,000
Paid up Capital :
UAE Dh 1,000,000
Total Workforce :
2
Activities :
Import and export of telecommunication products
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed :
Rana Atif Ali Sakhwat, Director
HACO TRADING FZC
Location : Block F-1,
Office No. SM Office F1-223B
Area :
Town :
Country :
Email : aatif@imexintl.com
/ mahmood@imexinlt.com
/ info@hacotrading.com
Subject operates from a small suite of offices that are rented and
located in the Ajman Free Zone.
Name Nationality Position
· Hameed Hameed Pakistani Managing
Director
· Rana Atif Ali Sakhwat Pakistani Director
Date of
Establishment : 11th
June 2013
Legal Form : Free Zone Company
- FZC
Trade Licence No. : 8493 (Expires 10/06/2015)
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
· Hameed Hameed
· Rana Atif Ali Sakhwat
· Imex International
Tel: (92-34) 55333302 / (92-30) 05000981
Email: aatif@imexintl.com / mahmood@imexinlt.com
Activities: Engaged in the import and
export of telecommunication products, including modern, fibre optics, routers,
testing equipment, measuring devices and related accessories.
Import Countries:
International
Suppliers:
· Ericsson
· JDSU
· Tenda
Subject has a workforce of 2 employees.
Subject is a newly formed business and as a result
financial information is not currently available.
·
Union National Bank
Unknown
In view of subject’s infancy, extensive payment and financial are not
available, therefore dealings are recommended to be on secured terms, and a close
monitoring of subject’s business development is advisable.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.43 |
|
|
1 |
Rs.99.73 |
|
Euro |
1 |
Rs.77.93 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
SMN |
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 |
|
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.