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Report No. : |
355500 |
|
Report Date : |
19.12.2015 |
IDENTIFICATION DETAILS
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Name : |
LABLINK FZE |
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Registered Office : |
Saif Zone, PO Box : 121452, Sharjah |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
05.12.2007 |
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Legal Form : |
Free Zone
Establishment - FZE |
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Line of Business : |
Subject is engaged in the import and distribution of scientific and laboratory
equipment and instruments, including engineering and educational laboratory
equipment, glassware, laboratory furniture, consumables and reagents. |
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No. of Employee : |
4 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 |
|
Very High |
C1 |
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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 :
LABLINK FZE
Country of Origin :
Sharjah, United Arab Emirates
Legal Form :
Free Zone Establishment - FZE
Registration Date :
5th December 2007
Trade Licence Number :
05547
Issued Capital :
UAE Dh 185,000
Paid up Capital :
UAE Dh 185,000
Total Workforce :
4
Activities :
Distributors of scientific and laboratory equipment and instruments
Financial Condition :
Undetermined
Payments :
Unknown
LABLINK FZE
Location : Saif Zone
PO Box : 121452
Town : Sharjah
Country : United Arab
Emirates
Mobile : (971-50)
4815033
Email : adilnuri@hotmail.com
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Saif Zone Area of Sharjah.
Name Position
· Adil Ahmed Ali
Ahmed Managing
Director
Date of
Establishment : 5th
December 2007
Legal Form : Free Zone
Establishment - FZE
Trade Licence No. : 05547 (Expires 15/05/2016)
Issued Capital : UAE Dh 185,000
Paid up Capital : UAE Dh 185,000
· Adil Ahmed Ali
Ahmed 100%
· Lablink Laboratory
Services Co Ltd
Khartoum
Sudan
Tel:
(249-183) 582290 / 582291
Activities: Engaged in the import and distribution of scientific and laboratory
equipment and instruments, including engineering and educational laboratory
equipment, glassware, laboratory furniture, consumables and reagents.
Import Countries: Europe and the Far East.
Brand Names: CARBOLITE,
PALINTEST, EDIBON, STUART, ROSE, CUSSONS, JENWAY, BWB
TECHNOLOGIES, GENLAB, TECHNE, GUNT,
ELECTROTHERMAL and SYNGENE
Subject has a workforce of 4 employees.
Companies registered in Sharjah, 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.
·
Habib Bank AG Zurich
Immigration Road
PO Box: 1166
Sharjah
Tel: (971-6)
5730004
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.66.42 |
|
|
1 |
Rs.99.17 |
|
Euro |
1 |
Rs.72.14 |
|
UAE DH |
1 |
Rs. 18.05 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.