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Report No. : |
356471 |
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Report Date : |
25.12.2015 |
IDENTIFICATION DETAILS
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Name : |
ALOKOZAY INTERNATIONAL LIMITED |
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Registered Office : |
Jebel Ali Industrial Area, Sheikh Zayed Road, PO Box 261602, Dubai |
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Country : |
United
Arab Emirates |
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Date of Incorporation : |
21.11.2012 |
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Com. Reg. No.: |
105908 |
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Legal Form : |
Branch of a Foreign Registered Corporation |
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Line of Business : |
Engaged in the import and distribution of tea. |
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No. of Employees : |
14 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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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 |
|
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 :
ALOKOZAY INTERNATIONAL LIMITED
Country of Origin :
British Virgin Islands
Legal Form :
Branch of a Foreign Registered Corporation
Registration Date :
21st November 2012
Commercial Registration Number :
105908, Dubai
Trade Licence Number :
5734
Chamber Membership Number :
112983
Total Workforce :
14
Activities :
Distributors of tea
Financial Condition :
Undetermined
Payments :
Unknown
Person Interviewed :
S John, Logistics Officer
ALOKOZAY INTERNATIONAL LIMITED
Registered &
Physical Address
Location : Jebel Ali
Industrial Area
Street : Sheikh Zayed
Road
PO Box : 261602
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 8871155
Facsimile : (971-4)
8871077
Email : salim.khan@alokozay.com
/ info@alokozay.com
/ vishva.fernando@alokozay.com
Premises
Subject operates from a small suite of offices that are rented and
located in the Jebel Ali Free Zone Area of Dubai.
Name Nationality Position
Abdul Rahman Alokozay Afghani Managing Director
Vishva Fernando - Commercial
Manager
S John - Logistics
Officer
Bahsir Mohamed - Public
Relations Officer
Date of Establishment : 21st
November 2012
Legal Form : Subject is the
United Arab Emirates registered branch of Alokozay International Limited,
a Limited
Liability Company incorporated in the British Virgin Islands.
Alokozay
International Limited in the United Arab Emirates, operates as a Branch of a
Foreign Registered
Corporation. Under these circumstances, we strongly advise that any international
trade credit should only be
written under the name of the main company where the subject holds its registered office, in
this case the British Virgin Islands.
Commercial Reg. No. : 105908, Dubai
Trade Licence No. : 5734
Chamber Member No. : 112983
Alokozay Tea International Ltd
Plot No. MO0512
Sheikh Zayed Road
Jebel Ali Free Zone
PO Box: 18165
Dubai
Tel: (971-4) 8871155
Fax: (971-4) 8871077
Lic No. 5735
Subject is related to the above company through common principals.
Alokozay General Trading LLC
Sheikh Zayed Bin Saqer Al Nahyan Building
Al Ras Street
Dubai
Alokozay FZE
PO Box: 18165
Jebel Ali Free Zone
Dubai
Tel: (971-4) 8871155
Fax: (971-4) 8871077
Activities: Engaged in the import and distribution of tea.
Import Countries: Europe and GCC countries.
Subject has a workforce of 14 employees.
Companies registered in Dubai, 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.
Mashreq Bank Plc
Deira Branch
PO Box: 1250
Dubai
Tel: (971-4) 2229131 / 2221134
Emirates National Bank of Dubai
Baniyas Street
PO Box: 777
Dubai
Tel: (971-4) 2222555
Fax: (971-4) 2221110
Unknown
Please note that the subject’s trade licence number is 5734 and not 5735.
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.66.20 |
|
|
1 |
Rs.98.30 |
|
Euro |
1 |
Rs.72.41 |
|
UAE Dh |
1 |
Rs.17.95 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
KAS |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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>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 |
|
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<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.