MIRA INFORM REPORT

Report No. :	351997
Report Date :	03.12.2015

IDENTIFICATION DETAILS

Name :	GOLDEN STOK GENERAL TRADING FZE
Registered Office :	Al Jazeera Al Hamra, RAKIA Free Zone, PO Box 88939, Ras Al Khaimah
Country :	United Arab Emirates
Date of Incorporation :	20.06.2010
Legal Form :	Free Zone Establishment - FZE
Line of Business :	Subject is engaged as traders of diamonds, jewellery, pearls, precious stones and textiles.
No. of Employee :	2

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
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

IDENTIFICATION & CONTACT DETAILS
1) Name (s):
Organization Official Name		:	GOLDEN STOK GENERAL TRADING FZE
2) Registered Address:
Address		:	Al Jazeera Al Hamra, RAKIA Free Zone
Town		:	Ras Al Khaimah
Country		:	United Arab Emirates
PO Box		:	88939
3) Operational Address & Contact Details:
Address		:	Navran Building Deira
Town		:	Dubai
Country		:	United Arab Emirates
PO Box		:	57632
Phone (s)		:	(971-4) 2262674
Facsimile		:	(971-4) 2264721
Mobile		:	(971-50) 3467321
LEGAL FORM & INCORPORATION (REGISTRATION) DETAILS
Legal Form - Category		:	Free Zone Establishment - FZE
Date of Registration		:	20th June 2010
Trade License Number		:	RAKIA 51FZ2306102981
Expiry Date		:	19/06/2016
KEY FACTS
Operational Status		:	Normal
Financial Condition		:	Undetermined
Primary Business Activity		:	Traders of diamonds, jewellery, precious stones and textiles
Number of Employees		:	2
Capital		:	UAE Dh 1,000,000
Note:
Engaged as traders of diamonds, jewellery, pearls, precious stones and textiles.
CAPITAL DETAILS
Issued Capital:
NO OF SHARES			VALUE OF SHARE	AMOUNT
N/A			N/A	UAE Dh 1,000,000
Paid Up Capital:
NO OF SHARES				AMOUNT
N/A			N/A	UAE Dh 1,000,000
FINANCIAL DATA
Companies registered in Ras Al Khaimah, 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.
BANKERS
1	Name		National Bank of Ras Al Khaimah
	Address		NBRAK Building
	PO Box		5300 Ras Al Khaimah
	Tel		(971-7) 2221127
	Fax		(971-7) 2224202
SHAREHOLDERS
1	Name		Mukeshbhai Babubhai Gopani
	Percentage		100%
	Country		Indian
SENIOR MANAGEMENT
Sr.No	Name		Nationality	Dsignation
1	Mukeshbhai Babubhai Gopani		Indian	Managing Director
AFFILIATED COMPANIES
1	Name		Solitaire General Trading FZE
	Address		Gold Souq, Office No. 203
	PO Box		88939 Dubai
	Tel		(971-4) 2264721
	Fax		(971-4) 2262674
PAYMENT
Unknown
ADVERSE DATA
Performance Defaults		:	No record found
Payment Defaults		:	No record found
Adverse Press Coverage		:	No record found
Litigations		:	No record found
Former Business Relationships		:	No record found
INVESTIGATOR'S COMMENTS
Person Interviewed : Mukeshbhai Babubhai Gopani, Managing Director
Please note that Mr Mukeshbhai Babubhai Gopani, Managing Director stated that the subject is no longer active and would therefore not divulge any further details. Our enquiries with the local registry office revealed that the company does still have a valid trade licence which expires on 19/06/2016, however there is a possibility that the company has stopped trading but it has not notified the relevant authorities yet.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.66.62
UK Pound	1	Rs.100.34
Euro	1	Rs.70.67
	1	Rs.

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	TRI
Report Prepared by :	ASH

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%)

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