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Report No. : |
337504 |
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Report Date : |
26.08.2015 |
IDENTIFICATION DETAILS
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Name : |
SHARDA
TECHNOLOGIES LLC |
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Registered Office : |
210 HH Sheikha Mariam
Building, 2nd Floor, Nasir Square, Al Souq Al Kabir, P O Box:
114931, 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 : |
22.07.2006 |
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Com. Reg. No.: |
997591, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
import and
distribution of IT and computer products and equipment, including computers and
printers, facsimiles and photocopiers, structure cabling, networking
equipment, CCTV solutions and web solutions. Subject also offers a diverse
range of the services including computer & accessories sales and
services, network solutions, telecom solutions, security solutions, structure
cabling, printers, VOIP services, web solutions and CCTV solutions. Subject
also distributes rice. |
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No. of Employees : |
5 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 |
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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 : SHARDA
TECHNOLOGIES LLC
Country of Origin : Dubai,
United Arab Emirates
Legal Form : Limited
Liability Company - LLC
Registration Date : 22nd
July 2006
Commercial
Registration Number : 997591,
Dubai
Trade Licence
Number : 583946
Chamber Membership
Number : 109486
Issued Capital : UAE Dh
300,000
Paid up Capital : UAE Dh
300,000
Total Workforce : 5
Activities :
Import and distribution of IT and computer products and equipment
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Kamal Wasti, Commercial Manager
SHARDA TECHNOLOGIES
LLC
Building : 210 HH Sheikha Mariam Building, 2nd
Floor
Street : Nasir Square
Area : Al Souq Al Kabir
PO Box : 114931
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2281368
Facsimile : (971-4) 2281369
Mobile : (971-50) 8580118 / 4731554 /
6254673
Email : info@shardatech.com
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Dubai.
Name Nationality Position
·
Arvind
Kumar Jain Indian Managing
Director
·
Sultan
Mohamed Meftah Obaid Al Shamsi Emirati Director
·
Kamal
Wasti - Commercial
Manager
·
Narindar
Gupta - Financial
Controller
·
Prakash
Kumar - Accountant
Date of Establishment : 22nd
July 2006
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 997591,
Dubai
Trade Licence No. : 583946
Chamber Member No. : 109486
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
·
Sultan
Mohamed Meftah Obaid Al Shamsi 51%
·
Arvind
Kumar Jain 49%
Activities: Engaged in the import and distribution of
IT and computer products and equipment, including computers and printers,
facsimiles and photocopiers, structure cabling, networking equipment, CCTV
solutions and web solutions. Subject also offers a diverse range of the
services including computer & accessories sales and services, network
solutions, telecom solutions, security solutions, structure cabling, printers,
VOIP services, web solutions and CCTV solutions. Subject also distributes rice.
Import
Countries: India, Japan,
South Korea, Europe and the United States of America
Brand Names: HUAWEI, HP and
CISCO
Operating Trend: Steady
Subject has a
workforce of 5 employees.
Financial
highlights provided by local sources are given below:
Currency: United
Arab Emirates Dirham (UAE Dh)
Year Ending
31/12/13: Year Ending
31/12/14:
Total Sales UAE Dh 16,800,000 UAE Dh 17,425,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Habib
Bank AG Zurich
Baniyas Road
PO Box: 3306
Dubai
Tel: (971-4) 2214535
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.66.71 |
|
|
1 |
Rs.105.10 |
|
Euro |
1 |
Rs.77.11 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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|
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|
Report Prepared
by : |
NIT |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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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 |
|
|
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.