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Report No. : |
303772 |
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Report Date : |
22.01.2015 |
IDENTIFICATION DETAILS
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Name : |
ALLIANCE GLOBAL FZ LLC |
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Registered Office : |
Concord Tower, 16th Floor, Office No. 1610, Al Sufouh Road,
Dubai Media City, PO Box 500392, Dubai |
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Country : |
United Arab Emirates |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
11.06.2007 |
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Legal Form : |
Free Zone Limited Liability Company |
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Line of Business : |
Engaged in the import and distribution of medical and biomedical
products and equipment. |
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No. of Employee : |
35 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
United Arab Emirates |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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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. 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 :
ALLIANCE GLOBAL FZ LLC
Country of Origin :
Dubai, United Arab Emirates
Legal Form :
Free Zone Limited Liability Company – FZ LLC
Registration Date :
11th June 2007
Trade Licence Number :
80014
Chamber Membership Number :
120197
Issued Capital :
UAE Dh 300,000
Paid up Capital :
UAE Dh 300,000
Total Workforce :
35
Activities :
Distributors of medical and biomedical products and equipment
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Wessam Ibrahim Al Ghaithi, Human Resources Manager
ALLIANCE GLOBAL FZ LLC
Registered &
Physical Address
Building : Concord
Tower, 16th Floor, Office No. 1610
Street : Al Sufouh
Road
Area : Dubai Media
City
PO Box : 500392
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 3752744
/ 3630600
Facsimile : (971-4)
4291376
Email : customerservice@agbl.net
Premises
Subject operates from a medium sized suite of offices that are rented
and located in the Central Business Area of Dubai.
Name Nationality Position
Tamar Raafat Mohamed Deghedy Egyptian Managing Director
Michael Charles Saunders British Director
Fahd Mir - Finance
Manager
Naseem Meri Hambuz - Commercial Manager
Wessam Ibrahim Al Ghaithi - Human
Resources Manager
Date of Establishment : 11th
June 2007
Legal Form : Free Zone Limited
Liability Company – FZ LLC
Trade Licence No. : 80014 (Expires
10/06/2015)
Chamber Member No. : 120197
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s)
Tamar Raafat Mohamed Deghedy
Michael Charles Saunders
Activities: Engaged in the import and distribution of medical and biomedical
products and equipment.
Import Countries: Latvia, Canada and the United States of America.
International Suppliers:
Invivoscribe Inc United States of America
Thermo Fisher Scientific Inc United States of America
Genologics Life Science Canada
Biosan Latvia
Operating Trend: Steady
Subject has a workforce of 35 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 17,200,000 UAE Dh
17,600,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
Commercial Bank of Dubai
Mankhool Street
PO Box: 2668
Dubai
Tel: (971-4) 3523355
Fax: (971-4) 3527655 / 2524796
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.61.61 |
|
|
1 |
Rs.93.49 |
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Euro |
1 |
Rs.71.38 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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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 |
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-- |
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.