|
Report No. : |
352440 |
|
Report Date : |
02.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
DENOX RHONE GENERAL TRADING LLC |
|
|
|
|
Registered Office : |
Al Manara Building, Office No. 1303, Business Bay , 31767
& 128392, Dubai |
|
|
|
|
Country : |
United Arab Emirates |
|
|
|
|
Date of Incorporation : |
22.01.2014 |
|
|
|
|
Legal Form : |
Limited
Liability Company - LLC |
|
|
|
|
Line of Business : |
Subject is engaged
in the import and distribution of chemicals and chemical raw materials. |
|
|
|
|
No. of Employee : |
3 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
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|
|
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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 :
DENOX RHONE GENERAL TRADING LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 22nd January 2014
Commercial Registration Number : 1129037, Dubai
Trade Licence Number : 702267
Chamber Membership Number : 228919
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 3
Activities : Distributors of chemicals and chemical raw materials
Financial Condition : Undetermined
Payments : Unknown
DENOX RHONE GENERAL
TRADING LLC
Location : Al
Manara Building, Office No. 1303, Business Bay
PO Box :
31767 & 128392
Town :
Dubai
Country :
United Arab Emirates
Mobile :
(971-50) 9298484
Subject operates from a small suite of offices that are
rented and located in the Central Business Area of Dubai.
Name Nationality Position
· Seyed
Hamidreza Falakfarsaei Swiss Managing
Director
· Haniehossadat
Falakfarsaei Swiss Director
· Asia
Abbas Moosa Abdulla Alshamali Emirati Director
Date
of Establishment : 22nd
January 2014
Legal
Form : Limited
Liability Company - LLC
Commercial
Reg. No. :
1129037, Dubai
Trade
Licence No. :
702267 (Expires 21/01/2017)
Chamber
Member No. :
228919
Issued Capital : UAE
Dh 300,000
Paid up Capital :
UAE Dh 300,000
· Asia
Abbas Moosa Abdulla Alshamali 51%
· Seyed
Hamidreza Falakfarsaei 25%
· Haniehossadat
Falakfarsaei 24%
Activities:
Engaged in the import and distribution of chemicals and chemical raw materials.
Import Countries: Europe and the Far East
Subject has a workforce of 3 employees.
Companies registered in Dubai 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
Unknown
Please note that the correct name of the subject is “Denox
Rhone General Trading LLC” and not “Deonix Rhone”.
Local sources report that the subject’s operating history is
clear with payment obligations met in a generally timely manner. The financial
position is satisfactory and the company is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.52 |
|
|
1 |
Rs.100.44 |
|
Euro |
1 |
Rs.70.44 |
|
DH |
1 |
Rs.18.14 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TRU |
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 |
|
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.