MIRA INFORM REPORT

 

 

Report No. :

353779

Report Date :

11.12.2015

 

IDENTIFICATION DETAILS

 

Name :

NETS INTERNATIONAL COMMUNICATION LLC

 

 

Registered Office :

Office No. 302, Sobha Sapphire, Sheikh Zayed Road, Business Bay, PO Box 50082, Dubai

 

 

Country :

United Arab Emirates

 

 

Financials (as on) :

31.12.2014

 

 

Date of Incorporation :

19.10.2008

 

 

Com. Reg. No.:

1036280, Dubai

 

 

Legal Form :

Limited Liability Company – LLC

 

 

Line of Business :

Subject is engaged in the import, distribution, installation and maintenance of underwater telecommunications,  internal communication networks, telephone and wireless systems.

 

 

No. of Employee :

15

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

No complaints

 

 

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

 

 

SUMMARY

 

Company Name                                    : NETS INTERNATIONAL COMMUNICATION LLC

Country of Origin                                   : Dubai, United Arab Emirates

Legal Form                                           : Limited Liability Company – LLC

Registration Date                                  : 19th October 2008

Commercial Registration Number           : 1036280, Dubai

Trade Licence Number                           : 617576

Chamber Membership Number               : 154867

Issued Capital                                       : UAE Dh 300,000

Paid up Capital                                     : UAE Dh 300,000

Total Workforce                         : 15

Activities                                               : Distribution, installation and maintenance of underwater

                                                              telecommunications, internal communication networks, telephone and

                                                              wireless systems.

Financial Condition                                : Fair

Payments                                             : No Complaints

Operating Trend                                    : Steady

 

 

COMPANY NAME

 

NETS INTERNATIONAL COMMUNICATION LLC

 

 

ADDRESS

 

Registered & Physical Address

 

Building                        : Office No. 302, Sobha Sapphire

Street               : Sheikh Zayed Road

Area                 : Business Bay

PO Box            : 50082

Town                : Dubai

Country : United Arab Emirates

 

Telephone         : (971-4) 4473229

Facsimile          : (971-4) 4473228

Mobile              : (971-55) 4096002

 

Please note that subject’s previous address was, Office No. 906, Aspect Tower, Sheikh Zayed Road, Business Bay, Dubai.

 

Premises

 

Subject operates from a small suite of offices that are rented and located in the Central Business Area of Dubai.

 

 

KEY PRINCIPALS

 

     Name                                                                       Nationality                                Position

 

·       Jahangir Ahmed Shafi                                               Pakistani                                   Managing Director

 

·       Sheikh Mabtir Ahmed                                                Pakistani                                   Director

 

·       Hassan Abdul Hussain Mohsen Jawad Sajwani          Emirati                                      Director

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 19th October 2008

 

Legal Form                  : Limited Liability Company – LLC

 

Commercial Reg. No.   : 1036280, Dubai

 

Trade Licence No.        : 617576 (Expires 15/10/2016)

 

Chamber Member No.  : 154867

 

Issued Capital              : UAE Dh 300,000

 

Paid up Capital            : UAE Dh 300,000

 

Name of Shareholder (s)                                                      Percentage

 

·       Hassan Abdul Hussain Mohsen Jawad Sajwani                      51%

 

·       Sheikh Mabtir Ahmed                                                            25%

 

·       Jahangir Ahmed Shafi                                                           24%

 

 

AFFILIATED COMPANIES

 

·       Inspired Network Solution

PO Box: 31487

Doha

Qatar

Tel: (974) 44020100

Fax: (974) 44020111

 

·       Global Specialization for Computer

King Fahad Road

Riyadh

Saudi Arabia

Tel: (966-55) 3751429

 

·       National Engineers

Room 3, 8th Floor

Arfa Technology Park

Ferozepur Road

Lahore

Pakistan

Tel: (92-42) 35972002

Fax: (92-42) 35972003

 

 

OPERATIONS

 

Activities: Engaged in the import, distribution, installation and maintenance of underwater telecommunications,

     internal communication networks, telephone and wireless systems.

 

Subject’s services brings you customized services for planning, designing, implementation and optimization of ICT solutions for your business needs.  NETS can implement the best practices we have learnt over the last 30 years that ensure that projects get completed in time and lead to customer success.

Planning and Design Services : Planning and design services consist

  • Requirements gathering
  • Architecture selection
  • Low Level Design (Detailed Design Document)

Deployment, Integration Services : Deployment and Integration services consists

  • Network Implementation Plan
  • Implementation Services
  • Integration with customer network and applications
  • User Acceptance Testing

Network & Data Migration Services

Network Services are services requirement for planning, implementation and testing of existing services which are to be migrated if customer site location changes or existing equipment is end of life or technology shift is happening. The idea is to have minimal impact in business continuity when migrations are done. Scope of such services shall include:

  • Understand customer’s operational objective
  • Defining the scope of work and migration plan
  • Hardware Selection: performing a site audit and readiness (power supply, cooling, floor space and loading, low voltage cabling)
  • Validate configurations that are to be deployed
  • Install and integrate the solutions
  • Test and validate to make your Network Ready For Use (NRFU)
  • Risks Mitigation Plan
  • Documentation

Migration Services help you to control costs, improve operational excellence, and mitigate risk during device, network, and software refreshes. With a systematic, holistic, efficient approach to upgrading the network infrastructure, you can:

  • More effectively budget for network operations costs
  • Reduce system outages and support issues with a proactive plan for replacing aging network components
  • Accelerate time to revenue through faster deployment and cutover time when migrating
  • Reduce operating expenses
  • Introduce new capabilities with potentially lower total cost of ownership

Network Assessment and Optimization Services

NETS International Network Assessment and Optimization Services determine your IT and network infrastructure’s compliance to best practices and policies and/or readiness to support a new technology, application, architecture, or solution, so you can:

  • Reduce deployment costs and adoption delays
  • Reduce network downtime for more reliability and lower support costs
  • Increase performance and agility
  • Simplify your network and processes
  • Make better decisions, faster, with greater network visibility
  • Plan and implement network changes sooner
  • Speed delivery of new products and services to market
  • Improve your team’s knowledge and keep skills up-to-date
  • Prepare for new technology adoption
  • Reduce risk

Import Countries:

 

Clients:

 

·       Dragon Oil

·       Coca Cola

·       Alcatel Lucent

·       Kone

·       Warid

·       Etisalat

·       Cisco

·       Huawei

·       Nokia

·       BT

·       NSC Global

·       Deloitte & Touche

·       Nakheel

·       PTCL

 

Operating Trend: Steady

 

Subject has a workforce of 15 employees.

 

FINANCIAL DATA

 

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 12,110,000                   UAE Dh 12,300,000

 

Local sources consider subject’s financial condition to be Fair.

 

The above financial figures are based on estimations by our local sources.

 

 

BANKERS

 

·       Commercial Bank of Dubai

Baniyas Street

Deira

PO Box: 1709

Dubai

Tel: (971-4) 2227121 / 2253222

Fax: (971-4) 2220943 / 2254565

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

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.66.79

UK Pound

1

Rs.101.37

Euro

1

Rs.73.46

UAE DH

1

Rs. 18.18

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.