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Report No. : |
349458 |
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Report Date : |
09.11.2015 |
IDENTIFICATION DETAILS
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Name : |
TRANSCOM DMCC |
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Registered Office : |
Unit No. 1607, Indigo Icon Plot No. F3, Sheikh Zayed Road, Jumeirah Lakes Towers, PO Box No.: 390466, Dubai |
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Country : |
United Arab
Emirates |
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Date of Incorporation : |
21.09.2010 |
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Com. Reg. No.: |
2366, Dubai |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Subject is engaged
in the import and distribution of organic fertilizer, plant feed and wheat. |
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No. of Employees : |
8 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 – 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 |
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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 : TRANSCOM
DMCC
Country of Origin : Dubai,
United Arab Emirates
Legal Form :
Limited Liability Company
Registration Date : 21st
September 2010
DMCC Number : 2366,
Dubai
Trade Licence
Number : 31463
Chamber Membership
Number : 188692
Issued Capital : UAE Dh
1,000,000
Paid up Capital : UAE Dh
1,000,000
Total Workforce : 8
Activities :
Distributors of organic fertilizer, plant feed and wheat
Financial Condition : Undetermined
Payments : Unknown
Person Interviewed : Janie D’souza,
Administration Executive
TRANSCOM DMCC
Building : Unit No. 1607, Indigo
Icon Plot No. F3
Street : Sheikh Zayed Road
Area : Jumeirah Lakes Towers
PO Box : 390466
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 4508200
Facsimile : (971-4) 4508201
Email : tefrt@emirates.net.ae / transfert@tfert.com
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Dubai.
Name Nationality Position
·
Siraj
Rahimtula Indian Managing Director
·
Sana
Rahimtula British Director
·
Zaina
Rahimtula British Director
·
Janie
D’souza - Administration
Executive
Date of Establishment : 21st
September 2010
Legal Form :
Limited Liability Company
DMCC No. : 2366, Dubai
Trade Licence No. : 31463
(Expires 21/09/2015)
Chamber Member No. : 188692
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
·
Siraj
Rahimtula
·
Sana
Rahimtula
·
Zaina
Rahimtula
Activities: Engaged in the import and distribution of
organic fertilizer, plant feed and wheat.
Transcom DMCC has purchased a 50,000 metric-ton
cargo of machine-cleaned wheat from India’s government-run State Trading
Corporation at a price of around US$ 323.50 a ton, free-on-board.
Import
Countries:
Europe and the Far East
International Suppliers:
· ADNOC Abu Dhabi
·
KISAN International Dubai
Subject has a
workforce of 8 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.
·
Arab
Emirates Investment Bank Ltd
Deira Branch
PO Box: 5503
Dubai
Tel: (971-2) 2222191
Unknown
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.65.79 |
|
UK Pound |
1 |
Rs.99.95 |
|
Euro |
1 |
Rs.71.55 |
INFORMATION DETAILS
|
Analysis Done by
: |
TRI |
|
|
|
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Report Prepared
by : |
TPT |
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 |
|
|
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.