|
Report No. : |
307991 |
|
Report Date : |
17.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
ROBUST TRADE LINKS DMCC |
|
|
|
|
Registered Office : |
AG Tower, 18th Floor, Suite G, Jumeirah Lakes Towers,Sheikh
Zayed Road, PO Box- 340826, Dubai |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
13.11.2006 |
|
|
|
|
Com. Reg. No.: |
0849 |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Subject is engaged in the import and distribution of dried foodstuffs,
spices, seeds and agricultural products. |
|
|
|
|
No. of Employee : |
7 |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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. In April 2004, the UAE signed a Trade and Investment Framework Agreement with Washington and in November 2004 agreed to undertake negotiations toward a Free Trade Agreement with the US; however, those talks have not moved forward. The country's Free Trade Zones - offering 100% foreign ownership and zero taxes - are helping to attract foreign investors. The global financial crisis, 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. The UAE Central Bank and Abu Dhabi-based banks bought the largest shares. In December 2009 Dubai received an additional $10 billion loan from the emirate of Abu Dhabi. Dependence on oil, a large expatriate workforce, and growing inflation pressures are significant long-term challenges. The UAE's strategic plan for the next few years focuses on diversification and creating more opportunities for nationals through improved education and increased private sector employment.
|
Source
: CIA |
Company Name :
ROBUST TRADE LINKS DMCC
Country of Origin :
Dubai, United Arab Emirates
Legal Form :
Sole Proprietorship
Registration Date :
13th November 2006
Commercial Registration Number :
0849, Dubai
Trade Licence Number :
30566
Invested Capital :
UAE Dh 1,000,000
Total Workforce : 7
Activities :
Distributors of dried foodstuffs, spices, seeds and agricultural products
Financial Condition :
Good
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
ARIC Credit Rating :
BB
Recommended Credit Limit :
US$ 900,000
Person Interviewed :
Salmon Anthony, Logistics Manager
ROBUST TRADE LINKS
DMCC
Location : AG Tower, 18th
Floor, Suite G, Jumeirah Lakes Towers
Street : Sheikh Zayed
Road
PO Box : 340826
Town : Dubai
Country :
Telephone : (971-4) 4474950
Facsimile : (971-4)
4474951
Mobile : (971-50)
2584218 (971-55) 2231038
Email : gare@emirates.net.ae
/ mail@kmgrobust.com
/ yrc@emirates.net.ae
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Dubai.
Name Nationality Position
· Sameer Chaturvedi Indian Proprietor
& General Manager
· Salmon Anthony - Logistics
Manager
· Pushpata Tiwari - Accountant
Date of
Establishment : 13th
November 2006
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 0849, Dubai
Trade Licence No. : 30566 (Expires 12/11/2015)
Invested Capital : UAE Dh 1,000,000
Mr Sameer Chaturvedi is the sole proprietor of the business.
Activities: Engaged in the import and distribution of dried foodstuffs, spices,
seeds and agricultural products.
Import Countries: India, Guatemala, Vietnam, Madagascar, Comoros,
Nigeria, Ethiopia, Turkey, Egypt, United
States of America, Canada, Brazil,
Argentina, Chile, Indonesia, Sri Lanka and China
International
Suppliers:
·
Polico Brazil
·
Arafa Al Attar Co Egypt
·
Al Peren Jida Turkey
·
K M Gantra & Co India
·
Malbar Foodstuff India
·
Belraj Kumar India
Operating Trend: Steady
Subject has a workforce of 7 employees.
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 101,200,000 UAE Dh
108,000,000
Local sources consider subject’s financial condition to be Good.
The above figures were provided by Mr Salmon Anthony, Logistics Manager
·
National Bank of Ras Al Khaimah
PO Box:
1531
Dubai
Tel:
(971-4) 2226291
Fax:
(971-4) 2281312
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.62.20 |
|
|
1 |
Rs.95.99 |
|
Euro |
1 |
Rs.71.00 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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.