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Report No. : |
336651 |
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Report Date : |
18.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
ORACLE GENERAL TRADING
FZE (OGT) |
|
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|
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Registered Office : |
Ajman Free Zone, Office No. D-17, Ajman |
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|
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Country : |
United Arab
Emirates |
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Date of Incorporation : |
21.02.2003 |
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Legal Form : |
Free Zone Establishment - FZE |
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LINE OF BUSINESS : |
SUBJECT IS ENGAGED IN THE IMPORT
AND EXPORT OF JEWELLERY, DIAMONDS AND OTHER PRECIOUS STONES. SUBJECT ALSO
OPERATES A GENERAL TRADE LICENCE AND DISTRIBUTES COMPUTER HARDWARE EQUIPMENT.
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|
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No. of Employees : |
3 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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) |
|
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 of 2008, 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 economic diversification and creating more job opportunities for nationals through improved education and increased private sector employment.
|
Source
: CIA |
Company Name : ORACLE
GENERAL TRADING FZE (OGT)
Country of Origin : Ajman,
United Arab Emirates
Legal Form :
Free Zone Establishment - FZE
Registration Date : 21st
February 2003
Trade Licence
Number : 1130, Ajman Free Zone
Issued Capital : UAE Dh
150,000
Paid up Capital : UAE Dh 150,000
Total Workforce : 3
Activities :
Distributors of jewellery, diamonds and other precious stones. Subject
also distributes computer
hardware equipment.
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed : Santosh Kumar,
Commercial Manager
ORACLE GENERAL TRADING FZE (OGT)
Location : Ajman Free Zone, Office No. D-17
Town : Ajman
Country : United Arab Emirates
Telephone : (971-6) 7423944
Building : Rak Business Centre Building,
Office No.102, 1st Floor
Area : Gold Souq, Deira
PO Box : 64834
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2295691
Facsimile : (971-4) 2295690
Mobile : (971-50) 4248074 / (971-55)
7657117
Email : orjtrd@yahoo.com
Please note that
subject’s previous address was, 214 Gold Land Building, 2nd Floor,
Deira, Al Khor, Dubai.
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Dubai.
Name Nationality Position
·
Pankaj
Kapur Krishnan Kumar Kapur Indian Managing
Director
·
Santosh
Kumar - Commercial
Manager
·
Jagdesh
Thanki - Administration
Manager
Date of Establishment : 21st
February 2003
Legal Form :
Free Zone Establishment -
FZE
Trade Licence No. : 1130
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
·
Pankaj
Kapur Krishnan Kumar Kapur 100%
·
Diastone
LLC
214 Gold Land Building, 2nd Floor
Deira
PO Box: 16067
Dubai
Tel: (971-4) 2295691
Fax: (971-4) 2295690
Email: diastone@gmail.com
Mem. No. 91568
Activities: Engaged
in the import and export of jewellery, diamonds and other precious stones.
Subject also
operates a general trade licence and distributes computer hardware
equipment. Subject plans to gain a separat licence for its computer activities
in the next two months.
Import
Countries: Europe and the
Far East.
Subject has a
workforce of 3 employees.
Companies registered
in Ajman, 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.
·
Habib
Bank Ltd
Murshid Bazaar
PO Box: 888
Dubai
Tel: (971-4) 2221281
Fax: (971-4) 2284631
·
Mashreq
Bank Plc
Deira Branch
PO Box: 1250
Dubai
Tel: (971-4) 2229131 / 2221134
Fax: (971-4) 2233784
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.65.22 |
|
UK Pound |
1 |
Rs.102.23 |
|
Euro |
1 |
Rs.72.39 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
VNT |
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 |
-- |
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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.