|
Report No. : |
294567 |
|
Report Date : |
27.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
DG TRADING HOUSE
DMCC |
|
|
|
|
Registered Office : |
24D, Almas Tower,
Jumeirah Lakes Towers, P O Box 340523, Dubai |
|
|
|
|
Country : |
United Arab Emirates |
|
|
|
|
Date of Incorporation : |
13.03.2013 |
|
|
|
|
Com. Reg. No.: |
3882 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Engaged
in the import and distribution of rough and polished diamonds |
|
|
|
|
No of Employees : |
03 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Unknown |
|
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 |
|
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 : DG TRADING HOUSE DMCC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company
Registration Date : 13th March 2013
DMCC Number : 3882
Trade Licence Number : 32887
Issued Capital : UAE Dh 50,000
Paid up Capital : UAE Dh 50,000
Total Workforce : 3
Activities : Distributors of rough and polished diamonds
Financial Condition : Undetermined
Payments : Unknown
Person Interviewed : Ms Retizi, Administration Executive
DG TRADING HOUSE DMCC
Registered &
Physical Address
Location : 24D, Almas Tower, Jumeirah Lakes
Towers
PO Box : 340523
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 4230666
Facsimile : (971-4) 4230667
Email : dgtradinghousedmcc@gmail.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Dubai.
Name Nationality Position
·
Saul
Neiger Belgian Managing
Director
·
Ben
Kirkland - General
Manager
·
Ms
Retizi - Administration
Executive
Date of Establishment : 13th
March 2013
Legal Form :
Limited Liability Company
DMCC No. : 3882
Trade Licence No. : 32887
(Expires 12/03/2015)
Issued Capital : UAE Dh 50,000
Paid up Capital : UAE Dh 50,000
Name of Shareholder
(s) Percentage
·
Saul
Neiger 100%
·
SBMH Group DMCC
24 D Al Mas Tower, Jumeirah Lakes Towers
PO Box: 340523
Dubai
Tel: (971-4) 4230666
Fax: (971-4) 4230667
Lic No. 30178
Activities: Engaged in the import and distribution of
rough and polished diamonds.
Import
Countries: Europe and the
Far East.
Subject has a
workforce of 3 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.
·
Commercial
Bank of Dubai
Baniyas Street
Deira
PO Box: 1709
Dubai
Tel: (971-4) 2227121 / 2253222
Fax: (971-4) 2220943 / 2254565
Unknown
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.61.50 |
|
UK Pound |
1 |
Rs.92.16 |
|
Euro |
1 |
Rs.69.62 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
MNL |
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.