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Report No. : |
317151 |
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Report Date : |
17.04.2015 |
IDENTIFICATION DETAILS
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Name : |
UFT GENERAL TRADING LLC |
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Registered Office : |
Office 505, Churchill
Tower, Business Bay, P O Box: 283598, Dubai |
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Country : |
United Arab Emirates |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
10.02.2013 |
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Com. Reg. No.: |
1109684, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Providers of
Foods Technology Services. |
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No. of Employees : |
12 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
United Arab Emirates |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
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. 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
and ultimately a $20 billion bailout from the UAE Central Bank and Abu
Dhabi-emirate government that was refinanced in March 2014. 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 : UFT
GENERALTRADING LLC
Country of Origin : Dubai,
United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date : 10th
February 2013
Commercial
Registration Number : 1109684,
Dubai
Trade Licence
Number : 683240
Chamber Membership
Number : 214663
Issued Capital : UAE Dh
600,000
Paid up Capital : UAE Dh
600,000
Total Workforce :
12
Activities :
Providers of foods technology services
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
UFT GENERALTRADING
LLC
Building : Office 505, Churchill
Tower
Area : Business Bay
PO Box : 283598
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 4329119 / 8841329
Facsimile : (971-4) 4329119 / 8841328
Subject operates
from a small suite of offices that are rented and located in the Central Business
Area of Dubai.
Name Nationality Position
·
Gerhad
Vogt German Managing Director
·
Reinhad
Josef Frederick German Director
·
Rashid
Zakariya Khalil Doleh Emirati Director
Date of Establishment : 10th
February 2013
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 1109684,
Dubai
Trade Licence No. : 683240
(Expires 09/02/2016)
Chamber Member No. : 214663
Issued Capital : UAE Dh 600,000
Paid up Capital : UAE Dh 600,000
·
Rashid
Zakariya Khalil Doleh 51%
·
Gerhad
Vogt 25%
·
Reinhad
Josef Frederick 24%
Activities: Engaged in the provision of
foods technology services.
Import
Countries: Europe and the Far East
Brand Names: RUHLE,
FREY, KERRES, K&G WETTER and DEIGHTON
Subject has a
workforce of 12 employees.
Financial
highlights provided by local sources are given below:
Currency: United
Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/14:
Total Sales UAE
Dh 8,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
Commercial
Bank of Dubai
Baniyas Street
Deira
PO Box: 1709
Dubai
Tel: (971-4) 2227121 / 2253222
Fax: (971-4) 2220943 / 2254565
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.62.37 |
|
|
1 |
Rs.92.44 |
|
Euro |
1 |
Rs.66.56 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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|
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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 |
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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 |
|
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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 |
-- |
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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.