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Report No. : |
336132 |
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Report Date : |
13.08.2015 |
IDENTIFICATION DETAILS
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Name : |
LIFE PHARMA FZE |
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Registered Office : |
Sheikh Zayed
Road, Jebel Ali Free Zone, P O Box: 17404, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
14.04.1998 |
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Com. Reg. No.: |
341, Dubai |
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Legal Form : |
Free Zone
Establishment - FZE |
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Line of Business : |
Manufacture of
Pharmaceuticals. |
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No. of Employees : |
250 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limits : |
US$ 200,000 |
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|
|
|
Status : |
Satisfactory |
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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) |
|
United Arab Emirates |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
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 $20
billion bailout from the UAE Central Bank and Abu Dhabi-emirate government that
was refinanced in March 2014. Dependence on oil, a large expatriate workforce,
and growing inflation pressures are significant long-term challenges. The UAE's
strategic plan for the next few years focuses on diversification and creating
more opportunities for nationals through improved education and increased
private sector employment.
|
Source
: CIA |
Company Name : LIFE
PHARMA FZE
Country of Origin : Dubai,
United Arab Emirates
Legal Form :
Free Zone Establishment - FZE
Registration Date : 14th
April 1998
Commercial
Registration Number : 341, Dubai
Trade Licence
Number : 1931
Chamber Membership
Number : 71545
Issued Capital : UAE Dh
4,000,000
Paid up Capital : UAE Dh
4,000,000
Total Workforce : 250
Activities :
Manufacturers of pharmaceuticals
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
Recommended Credit
Limit : US$ 200,000
Person Interviewed : Mohamed Adel,
Human Resources Manager
LIFE PHARMA FZE
Street : Sheikh Zayed Road
Area : Jebel Ali Free Zone
PO Box : 17404
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 8811560
Facsimile : (971-4) 8811899
Email : info@lifepharmafze.com
Subject operates
from a large suite of offices and a factory that are rented and located in the Jebel
Ali Free Zone Area of Dubai.
Name Position
·
Dev
Kumar Singh President
& General Manager
·
Prasad
Kumar Accounts
Manager
·
Pravin
Choudary Sales
Manager
·
Mohamed
Adel Human
Resources Manager
Date of Establishment : 14th
April 1998
Legal Form :
Free Zone Establishment –
FZE
Commercial
Reg. No. : 341, Dubai
Trade Licence No. : 1931
Chamber Member No. : 71545
Issued Capital : UAE Dh 4,000,000
Paid up Capital : UAE Dh 4,000,000
·
VPS Healthcare LLC
Abu Dhabi
United Arab Emirates
·
Ziva Wet Wipes FZCO
Jebel Ali Free Zone
Dubai
United Arab Emirates
Activities: Engaged in the manufacture of
pharmaceuticals.
Import
Countries: Europe and the
Far East
Production
Capacity:
·
Tablet
– 1,200 Million per year
·
Capsule
– 120 Million per year
·
Liquid
0 40 Million per year
·
Cephalosporin
Capsule – 50 Million per year
·
Cephalosporin
powder – 50 Million bottles per year
Subject has a
workforce of approximately 250 employees.
Companies
registered in Dubai, United Arab Emirates are not legally required to make
their accounts public and no financial information was released by the company or
submitted by outside sources.
·
Middle
East Bank Ltd
Arbift Tower
Baniyas Street
PO Box: 5547
Dubai
Tel: (971-4) 2220121
No complaints
regarding subject’s payments have been reported.
Recommended
credit limit: US$ 200,000
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.64.83 |
|
|
1 |
Rs.101.00 |
|
Euro |
1 |
Rs.71.82 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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 |
|
|
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.