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Report No. : |
337278 |
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Report Date : |
21.08.2015 |
IDENTIFICATION DETAILS
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Name : |
UNIQUE SYSTEM FZE |
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Registered Office : |
Hamriyah Free Zone, Plot No. 1D-07E, Phase 1, |
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Country : |
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Date of Incorporation : |
12.10.2005 |
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Com. Reg. No.: |
1380 |
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Legal Form : |
Free Zone Establishment |
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Line of Business : |
Engaged in the import, distribution, installation and maintenance
of gas, oilfield and surveying equipment. |
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No. of Employees : |
200 |
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 : |
Unknown |
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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 |
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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 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 : UNIQUE SYSTEM FZE
Country of Origin :
Sharjah, United Arab Emirates
Legal Form :
Free Zone Establishment - FZE
Registration Date :
12th October 2005
Commercial Registration Number : 1380
Trade Licence Number :
10810
Issued Capital :
UAE Dh 150,000
Paid up Capital :
UAE Dh 150,000
Total Workforce :
200
Activities :
Distribution, installation and maintenance of gas, oilfield and surveying
equipment
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
UNIQUE SYSTEM FZE
Registered
& Physical Address
Location :
Hamriyah Free Zone, Plot No. 1D-07E, Phase 1
PO Box :
42213
Town :
Sharjah
Country :
United Arab Emirates
Telephone :
(971-6) 5310333
Facsimile :
(971-6) 5130444
Email : uaesales@uniquegroup.com
/ kamani@uniquegroup.com
Premises
Subject operates from a large suite of offices that are
rented and located in the Hamriyah Free Zone Area of Sharjah.
Name Position
Himanshu Harry Ghandhi Chairman
Sahil Ghandhi Managing
Director
Ian Huggins General
Manager
Gitika Gupta Sales
Manager
Vipul Suresh Ghandhi Finance
Manager
Date of Establishment : 12th
October 2005
Legal Form :
Free Zone Establishment – FZE
Commercial
Reg. No. : 1380
Trade Licence No. : 10810
Issued Capital : UAE
Dh 150,000
Paid up Capital :
UAE Dh 150,000
Name
of Shareholder (s) Percentage
Himanshu Harry Ghandhi 100%
Unique System LLC
United States of America
Unique Hydra (Pty) Ltd
South Africa
Unique System (UK) Ltd
United Kingdom
Unique Wellube FZC
United Arab Emirates
Unique Computer Systems FZE
United Arab Emirates
Unique Seaflex Ltd
United Kingdom
Unique Wellube Nigeria Ltd
Nigeria
Unique System Tr & Eng WLL
Qatar
Unique Hydrographic Systems Pvt Ltd
India
Activities: Engaged in the import, distribution,
installation and maintenance of gas, oilfield and surveying equipment.
Import Countries: Europe and GCC countries.
Subject has a workforce of approximately 200 employees.
Companies registered in Sharjah, 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.
Sharjah Islamic Bank
Al Boorj Avenue
PO Box: 4
Sharjah
Tel: (971-6) 5547747
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.65.23 |
|
|
1 |
Rs.102.20 |
|
Euro |
1 |
Rs.72.57 |
INFORMATION DETAILS
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Analysis Done by
: |
KAS |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
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.