|
Report No. : |
331610 |
|
Report Date : |
15.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
MAVIGA MIDDLE
EAST TRADING DMCC |
|
|
|
|
Registered Office : |
Unit 1404,
Tiffany Tower, Cluster W, Jumeirah Lakes Towers, P O Box: 12502 & 337103,
Dubai |
|
|
|
|
Country : |
United Arab Emirates |
|
|
|
|
Date of Incorporation : |
2009, Hover
subject was registered on 14th January, 2014. |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Import and Distribution of Agricultural Commodities. |
|
|
|
|
No. of Employees : |
5 |
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 : |
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 – 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 |
|
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. 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
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 diversification and creating more opportunities for nationals through
improved education and increased private sector employment.
|
Source
: CIA |
Company Name : MAVIGA
MIDDLE EAST TRADING DMCC
Country of Origin : Dubai,
United Arab Emirates
Legal Form :
Limited Liability Company
Start Date :
2009
Registration Date : 14th
January 2014
Trade Licence
Number : 33577
Chamber Membership
Number : 4627
Issued Capital : UAE Dh
50,000
Paid up Capital : UAE Dh
50,000
Total Workforce : 5
Activities :
Distributors of agricultural commodities
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
MAVIGA MIDDLE EAST
TRADING DMCC
Location : Unit 1404, Tiffany Tower, Cluster
W, Jumeirah Lakes Towers
PO Box : 12502 & 337103
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 5515625 / 5515624
Mobile : (971-55) 1000347
Email : ab@mavigame.com
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Dubai.
Name Nationality Position
·
Anurag
Bhargava Indian Managing
Director
·
Clifford
Quadres - Accountant
Date of Establishment : 2009, however
subject was registered on 14th January 2014
Legal Form :
Limited Liability Company
Trade Licence No. : 33577
(Expires 13/01/2018)
Chamber Member No. : 4627
Issued Capital : UAE Dh 50,000
Paid up Capital : UAE Dh 50,000
·
Anurag
Bhargava 100%
·
Maviga
International Holding
United Kingdom
Activities: Engaged in the import and distribution of
agricultural commodities.
Import
Countries: Europe and the
Far East
Subject has a
workforce of 5 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.
·
Standard
Chartered Bank
Khalid Bin Waleed Street
PO Box: 999
Dubai
Tel: (971-4) 2520455
No complaints
regarding subject’s payments have been reported.
According to local
sources, subject enjoys a good reputation for the quality of its products with
nothing detrimental uncovered regarding the manner in which operations are
conducted. As such the company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.50 |
|
|
1 |
Rs.98.20 |
|
Euro |
1 |
Rs.69.73 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NIT |
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.