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Report No. : |
336350 |
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Report Date : |
08.08.2015 |
IDENTIFICATION DETAILS
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Name : |
INDO INTERNATIONAL TRADING FZCO |
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Registered Office : |
LOB No. 18, Jebel
Ali Free Zone, PO Box: 18648 & 261822, Dubai |
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Country : |
United Arab Emirates |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
15.03.2004 |
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Legal Form : |
Free Zone Company - FZCO |
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Line of Business : |
Engaged in the
import and distribution of steel products, raw materials, coal and ferro
alloys. |
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No. of Employees : |
06 |
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) |
|
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. 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 : INDO
INTERNATIONAL TRADING FZCO
Country of Origin : Dubai,
United Arab Emirates
Legal Form :
Free Zone Company - FZCO
Registration Date : 15th
March 2004
Trade Licence
Number : 4570
Issued Capital : UAE Dh
300,000
Paid up Capital : UAE Dh
300,000
Total Workforce : 6
Activities :
Distributors of steel products, raw materials, coal and ferro alloys.
Financial Condition : Good
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Davies Jain,
General Manager
INDO INTERNATIONAL
TRADING FZCO
Registered &
Physical Address
Location : LOB No. 18, Jebel Ali Free Zone
PO Box : 18648
& 261822
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 8895441
Facsimile : (971-4) 8895442
Mobile : (971-50) 4553513 / 1585022
Email : iit@indoint.com / indo-int@emirates.net.ae
Premises
Subject operates
from a small suite of offices that are rented and located in the Jebel Ali Free
Zone, Dubai.
Name Nationality Position
·
Taroon
Somani Indian Managing
Director
·
Neeraj
Pasari Indian Director
·
Davies
Jain - General
Manager
·
Seema
Khullar - Finance
Manager
Date of Establishment : 15th
March 2004
Legal Form :
Free Zone Company – FZCO
Trade Licence No. : 4570 (Expires
14/05/2015)
Chamber
Member No. : 216888
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
·
Taroon
Somani
·
Neeraj
Pasari
Activities: Engaged in the import and distribution of steel
products, raw materials, coal and ferro alloys.
Import
Countries: Australia, South
Africa and Ukraine.
International Suppliers:
·
BHB Billton Australia
·
Total Co South
Africa
·
Mechal for Coal Ukraine
Operating Trend: Steady
Subject has a
workforce of 6 employees.
Financial
highlights provided by local sources are given below:
Currency: United
States Dollars (US$)
Year Ending 31/12/12: Year Ending 31/12/13:
Total Sales US$ 98,000,000 US$ 142,000,000
Local sources consider
subject’s financial condition to be Good.
The above figures
were provided by Mr Davies Jain, General Manager
·
Habib
Bank Ltd
Trade Service Centre
Murshid Bazaar
PO Box: 888
Dubai
Tel: (971-4) 2221281
Fax: (971-4) 2284631
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.63.81 |
|
|
1 |
Rs.98.93 |
|
Euro |
1 |
Rs.69.66 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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|
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Report Prepared
by : |
SDA |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.