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Report No. : |
313691 |
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Report Date : |
24.03.2015 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Office No. 102,
Gold Souq, Al Daghaya, 1821, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
24.10.2011 |
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Com. Reg. No.: |
1084185 |
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Legal Form : |
Limited Liability
Company |
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Line of Business : |
Engaged in the import and distribution of jewellery, gifts, watches, crystals,
precious metals and stones. |
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No of Employees : |
4 |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
UAE |
A2 |
A2 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
UAE 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.
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Source
: CIA |
Company Name : AGRA DIAMOND TRADING LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 24th October 2011
Commercial Registration Number : 1084185, Dubai
Trade Licence Number : 660571
Chamber Membership Number : 197976
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 4
Activities : Distributors of jewellery, gifts, watches, crystals, precious metals and
stones
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
AGRA DIAMOND
TRADING LLC
Building : Office No. 102
Area : Gold Souq, Al Daghaya
PO Box : 1821
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2262082
Facsimile : (971-4) 2260178
Mobile : (971-50) 7178857
Subject operates from
a small suite of offices that are rented and located in the Central Business
Area of Dubai.
Name Nationality Position
·
Wojar
Najhiou Azerbaijan Managing
Director
·
Mohamed
Ali Ahmed Mohd Sulaiman Emirati Director
Date of Establishment : 24th
October 2011
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 1084185,
Dubai
Trade Licence No. : 660571
(Expires 23/10/2015)
Chamber Member No. : 197976
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
·
Mohamed
Ali Ahmed Mohd Sulaiman 51%
·
Wojar
Najhiou 49%
Activities: Engaged
in the import and distribution of jewellery, gifts, watches, crystals, precious
metals and stones.
Import
Countries: Europe and the
Far East.
Subject has a
workforce of 4 employees.
Companies
registered in Dubai are not legally required to make their accounts public and no
financial information was released by the company or submitted by outside
sources.
·
Arab
Bank Plc
Ittihad Street
PO Box: 11364
Dubai
Tel: (971-4) 2228845
Fax: (971-4) 2285974 / 2940847
No complaints
regarding subject’s payments have been reported.
Local sources
report that the subject’s operating history is clear with payment obligations
met in a generally timely manner. The financial position is satisfactory and
the company is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 62.28 |
|
|
1 |
Rs. 93.02 |
|
Euro |
1 |
Rs. 67.36 |
INFORMATION DETAILS
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Analysis Done by
: |
RSM |
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|
|
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Report Prepared
by : |
DPT |
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 |
|
<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.