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Report No. : |
334043 |
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Report Date : |
05.08.2015 |
IDENTIFICATION DETAILS
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Name : |
PORTFOLIO
MANAGING EVENTS |
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Registered Office : |
International Business Tower, 18th Floor, Suite No. 1809, Business Bay, P O Box: 487855, 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 : |
24.02.2013 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Subject is
engaged in the provision of events management, wedding, conference, mall
opening and graduation event services. Subject’s services cover theme conception
and set design, branding consultancy, artist management, corporate events,
film premiers, logistics management, media and PR, on site management,
product launches, sponsorship procurement and sports management. |
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No. of Employees : |
8 |
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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Maximum Credit Limit : |
US$ 100,000 |
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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. 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 $20
billion bailout from the UAE Central Bank and Abu Dhabi-emirate government that
was refinanced in March 2014. Dependence on oil, a large expatriate workforce,
and growing inflation pressures are significant long-term challenges. The UAE's
strategic plan for the next few years focuses on diversification and creating
more opportunities for nationals through improved education and increased
private sector employment.
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Source
: CIA |
Company Name : PORTFOLIO
MANAGING EVENTS
Country of Origin : Dubai,
United Arab Emirates
Legal Form :
Sole Proprietorship
Registration Date : 24th
February 2013
Trade Licence
Number : 684157
Invested Capital : UAE Dh
100,000
Total Workforce :
8
Activities :
Providers of events management, wedding, conference, mall
opening and graduation event services.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Recommended Credit
Limit : US$ 100,000
PORTFOLIO MANAGING
EVENTS
Building : International Business
Tower, 18th Floor, Suite No. 1809
Area : Business Bay
PO Box : 487855
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 4321061
Facsimile : (971-4) 4342984
Mobile : (971-56) 2597727
Email : seema@pmeworld.com / sarah@pmeworld.com
Subject operates from
a small suite of offices that are rented and located in the Central Business
Area of Dubai.
Name Position
·
Seema Siddiqui Proprietor
·
Sarah
Siddiqui Business
Development Manager
Date of Establishment : 24th
February 2013
Legal Form :
Sole Proprietorship
Trade Licence No. : 684157
(Expires 23/02/2016)
Invested Capital
: UAE Dh 100,000
Mr
Seema Siddiqui is the sole proprietor of the business.
Activities: Engaged in the provision of events
management, wedding, conference, mall opening and graduation event services.
Subject’s services cover theme conception and set design, branding consultancy,
artist management, corporate events, film premiers, logistics management, media
and PR, on site management, product launches, sponsorship procurement and
sports management.
Subject has a
workforce of 8 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 7,225,000
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
Khalid Bin Waleed Street
PO Box: 999
Dubai
Tel: (971-4) 2520455
No complaints
regarding subject’s payments have been reported.
Recommended
credit limit: US$ 100,000
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.63.93 |
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|
1 |
Rs.99.82 |
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Euro |
1 |
Rs.70.05 |
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.