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Report No. : |
315260 |
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Report Date : |
07.04.2015 |
IDENTIFICATION DETAILS
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Name : |
EXONE
INTERNATIONAL GENERAL TRADING LLC |
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Registered Office : |
Sheikha Maryam Building, Suite No. 505, Al Maktoum Road, Baniyas Square, P O Box: 113946, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
26.05.2014 |
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Com. Reg. No.: |
1137865, Dubai |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Import and
Distribution of Lubricants, Grease, Oil and Fuel Additives. |
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No. of Employees : |
6 |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
United Arab Emirates |
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 Washington and in November 2004 agreed to undertake negotiations
toward a Free Trade Agreement with the US; however, those talks have not moved
forward. The country's Free Trade Zones - offering 100% foreign ownership and
zero taxes - are helping to attract foreign investors. The global financial
crisis, tight international credit, and deflated asset prices constricted the
economy in 2009. UAE authorities tried to blunt the crisis by increasing
spending and boosting liquidity in the banking sector. The crisis hit Dubai
hardest, as it was heavily exposed to depressed real estate prices. Dubai
lacked sufficient cash to meet its debt obligations, prompting global concern
about its solvency. The UAE Central Bank and Abu Dhabi-based banks bought the
largest shares. In December 2009 Dubai received an additional $10 billion loan
from the emirate of Abu Dhabi. Dependence on oil, a large expatriate workforce,
and growing inflation pressures are significant long-term challenges. The UAE's
strategic plan for the next few years focuses on diversification and creating
more opportunities for nationals through improved education and increased
private sector employment.
|
Source
: CIA |
Company Name : EXONE
INTERNATIONAL GENERAL TRADING LLC
Also Known As : EXONE
LUBRICANTS
Country of Origin : Dubai,
United Arab Emirates
Legal Form :
Limited Liability Company – LLC
Registration Date : 26th
May 2014
Commercial
Registration Number : 1137865,
Dubai
Trade Licence
Number : 710820
Chamber Membership
Number : 235312
Issued Capital : UAE Dh
300,000
Paid up Capital : UAE Dh
300,000
Total Workforce : 6
Activities :
Distributors of lubricants, grease, oil and fuel additives.
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed : Paramjeet
Singh, Financial Controller
EXONE INTERNATIONAL
GENERAL TRADING LLC
EXONE LUBRICANTS
Building : Sheikha Maryam Building, Suite No.
505
Street : Al Maktoum Road
Area : Baniyas Square
PO Box : 113946
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2948390
Facsimile : (971-4) 2948391
Email : info@exongroup.com
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Dubai.
Name Nationality Position
·
Moneet Meglani Indian Managing
Director
·
Manish
Kumar Indian Director
·
Yacoub
Moosad Mohamed Hussain Al Mayami Emirati Director
·
Paramjeet
Singh - Financial
Controller
Date of Establishment : 26th
May 2014
Legal Form :
Limited Liability Company –
LLC
Commercial Reg. No. : 1137865,
Dubai
Trade Licence No. : 710820
Chamber Member No. : 235312
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
·
Yacoub
Moosad Mohamed Hussain Al Mayami 51%
·
Moneet
Meglani ]
] 49%
·
Manish
Kumar ]
Activities: Engaged
in the import and distribution of lubricants, grease, oil and fuel additives.
Import
Countries: Europe and the Far East.
Brand Names: EXONE
Subject has a
workforce of 6 employees.
Subject is a newly
formed business and as a result financial information is not currently
available.
·
Emirates
National Bank of Dubai
Baniyas Street
PO Box: 777
Dubai
Tel: (971-4) 2222555
Fax: (971-4) 2221110
No complaints
regarding subject’s payments have been reported.
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.62.16 |
|
|
1 |
Rs.92.73 |
|
Euro |
1 |
Rs.68.23 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
NIT |
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.