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Report No. : |
320895 |
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Report Date : |
05.05.2015 |
IDENTIFICATION DETAILS
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Name : |
UNIQUE GLOBAL IMPEX FZC |
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Registered Office : |
Hamriyah Free Zone, PO Box 42453, Sharjah |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
01.03.2015 |
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Legal Form : |
Free Zone Company |
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Line of Business : |
Engaged in the import and distribution of scrap metals, petroleum
products, and automotive spare parts and building materials. |
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No. of Employees : |
3 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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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) |
|
United Arab Emirates |
A2 |
A2 |
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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. 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 :
UNIQUE GLOBAL IMPEX FZC
Country of Origin :
Sharjah, United Arab Emirates
Legal Form :
Free Zone Company - FZC
Registration Date :
1st March 2015
Trade Licence Number :
13624
Issued Capital :
UAE Dh 500,000
Paid up Capital :
UAE Dh 500,000
Total Workforce :
3
Activities :
Distributors of scrap metals, petroleum products, automotive spare
parts and building materials.
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
UNIQUE GLOBAL IMPEX FZC
Registered &
Physical Address
Location : Hamriyah Free
Zone
PO Box : 42453
Town : Sharjah
Country : United Arab
Emirates
Telephone : (971-6) 7477638
Facsimile : (971-6)
7477638
Mobile : (971-52)
8430367 / 9228678
Email : andrewmasc1972@gmail.com
Premises
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Hamriyah Free Zone Area of Sharjah.
Name Nationality Position
Andrew Philip Mascarenhas Indian Managing
Director
Hamza Palliyali Indian Director
Rajesh Lakshman Indian Director
Date of Establishment : 1st
March 2015
Legal Form : Free Zone Company
- FZC
Trade Licence No. : 13624
Issued Capital : UAE Dh 500,000
Paid up Capital : UAE Dh 500,000
Name of Shareholder (s)
Andrew Philip Mascarenhas
Hamza Palliyali
Rajesh Lakshman
Activities: Engaged in the import and distribution of scrap metals, petroleum
products, and automotive spare parts and building materials.
Import Countries: Europe and India.
International Suppliers:
Saagar Oil International India
Subject has a workforce of 3 employees.
Subject is a newly formed business and as a result financial information
is not currently available.
Sharjah Islamic Bank
Al Boorj Avenue
PO Box: 4
Sharjah
Tel: (971-6) 5547747
No complaints regarding subject’s payments have been reported.
In view of subject’s infancy, extensive payment and financial are not
available, therefore dealings are recommended to be on secured terms, and a
close monitoring of subject’s business development is advisable.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.57 |
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|
1 |
Rs.97.99 |
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Euro |
1 |
Rs.70.53 |
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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|
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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 |
-- |
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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.