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Report No. : |
322255 |
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Report Date : |
20.05.2015 |
IDENTIFICATION DETAILS
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Name : |
EAST WEST LINK
LLC |
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Formerly Known As : |
CAPITAL SKY LLC |
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Registered Office : |
Yousuf Abdullah Building, Suite No. 103 Al Fahidi Street King Ayesha Abdullah Huss, Bur Dubai 46164 Dubai |
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Country : |
United Arab
Emirates |
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Date of Incorporation : |
20.11.2011 |
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Legal Form : |
Limited Liability
Company – LLC |
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Line of Business : |
Engaged as commercial
brokers for third parties dealing in the import and export of electronic
products, chemicals, textiles, readymade garments, leather, general
foodstuffs and building materials. |
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No. of Employee : |
7 |
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) |
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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.
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Source
: CIA |
Company Name : EAST WEST
LINK LLC
Country of Origin : Dubai,
United Arab Emirates
Legal Form :
Limited Liability Company – LLC
Registration Date : 20th
November 2011
Trade Licence
Number : 661593
Chamber Membership
Number : 198731
Issued Capital : UAE Dh
300,000
Paid up Capital : UAE Dh
300,000
Total Workforce :
7
Activities :
Commercial brokers
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Tausif Khaliq
El Zamaan, Director
EAST WEST LINK LLC
Building : Yousuf Abdullah
Building, Suite No. 103
Street : Al Fahidi Street
Area : King Ayesha Abdullah Huss,
Bur Dubai
PO Box : 46164
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3535829
Facsimile : (971-4) 3537735
Mobile : (971-55) 7860429
Email : tausif@capitalsky.com
Please note that
the correct PO Box number is 46164. Subject no longer uses the PO Box 171721.
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Dubai.
Name Nationality Position
·
Mohamed
Ali Mohamed Saeed Al Suwaidi Emirati Managing Director
·
Tausif
Khaliq El Zamaan Indian Director
·
Fawaz
Mohamed Yacoub Indian Director
Date of Establishment : 20th
November 2011
History : Subject began in 2011 under the name
“Capital Sky LLC”. However on 26th January 2015 it
changed its name to “East West Link LLC”.
Legal Form :
Limited Liability Company –
LLC
Trade Licence No. : 661593
(Expires 19/11/2015)
Chamber Member No. : 198731
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
·
Mohamed
Ali Mohamed Saeed Al Suwaidi 51%
·
Tausif
Khaliq El Zamaan ]
] 49%
·
Fawaz
Mohamed Yacoub ]
Activities: Engaged as commercial brokers for third
parties dealing in the import and export of electronic products,
chemicals, textiles,
readymade garments, leather, general foodstuffs and building materials.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 7 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 Sale UAE Dh
9,800,000 UAE Dh
10,200,000
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
Baniyas Street
Deira
PO Box: 1709
Dubai
Tel: (971-4) 2227121 / 2253222
Fax: (971-4) 2220943 / 2254565
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.63.69 |
|
|
1 |
Rs.99.73 |
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Euro |
1 |
Rs.71.90 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
ANK |
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.