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Report No. : |
338587 |
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Report Date : |
28.08.2015 |
IDENTIFICATION DETAILS
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Name : |
GLOBAL POLYCHEM
GENERAL TRADING LLC |
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Registered Office : |
Sky Business Centre, Office No. 134, Festival City, P O Box: 232691, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
15.07.2015 |
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Com. Reg. No.: |
1181710, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Import and
Distribution of Chemical Raw Materials and Related Products. |
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No. of Employees : |
2 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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-- |
NB |
New Business |
-- |
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Status : |
New Business |
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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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 : GLOBAL
POLYCHEM GENERAL TRADING LLC
Country of Origin : Dubai,
United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date : 15th
July 2015
Commercial
Registration Number : 1181710,
Dubai
Trade Licence
Number : 738632
Chamber Membership
Number : 255353
Issued Capital : UAE Dh
300,000
Paid up Capital : UAE Dh
300,000
Total Workforce : 2
Activities :
Distributors of chemical raw materials and related products
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
GLOBAL POLYCHEM
GENERAL TRADING LLC
Building : Sky Business Centre, Office No.
134
Area : Festival City
PO Box : 232691
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2852501
Facsimile : (971-4) 2852502
Mobile : (971-50) 7878623 / (971-56)
9745722
Subject operates
from a small suite of offices that are rented and located in the Central Business
Area of Dubai.
Name Nationality Position
·
Sheikh
Mukthar Syed Mohamed Salihu Indian Managing
Director
·
Rashid
Hamed Ali Wayni Yaloumi Emirati Director
Date of Establishment : 15th
July 2015
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 1181710,
Dubai
Trade Licence No. : 738632
(Expires 14/07/2016)
Chamber Member No. : 255353
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
·
Rashid
Hamed Ali Wayni Yaloumi 51%
·
Sheikh
Mukthar Syed Mohamed Salihu 49%
Activities: Engaged
in the import and distribution of chemical raw materials and related products.
Import
Countries: Europe and the
Far East
Subject has a
workforce of 2 employees.
Subject is a newly
formed business and as a result financial information is not currently
available.
·
Arab
Bank Plc
Ittihad Street
PO Box: 11364
Dubai
Tel: (971-4) 2228845
Fax: (971-4) 2285974 / 2940847
No complaints
regarding subject’s payments have been reported.
In view of
subject’s infancy, extensive payment and financial are not available, therefore
dealings are recommended to be on secured terms, and a close monitoring of
subject’s business development is advisable.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.06 |
|
|
1 |
Rs.102.35 |
|
Euro |
1 |
Rs.74.97 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
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|
|
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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 |
|
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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 |
|
|
<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.