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Report No. : |
343445 |
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Report Date : |
06.10.2015 |
IDENTIFICATION DETAILS
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Name : |
PDR SOLUTIONS FZC |
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Registered Office : |
Office No. FC 19 & 20, Business Centre 4, Business Park, RAK Free Trade Zone, P O Box: 16113, Ras Al Khaimah |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
12.01.2012 |
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Legal Form : |
Free Zone Company
- FZC |
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Line of Business : |
Subject is
engaged in the provision of technology, communication, broadcasting and
domain sales and management services. It offers domain
registration and resale, web hosting, website builder, and email hosting
services, provides consulting services for domain registrar accreditation. It
also provides applications that include interfaces, application programming
interfaces, and software for domain registration, web hosting, email, secure
sockets layer, and website builder tools for domain registrars, domain
resellers, internet service providers, datacenters, and web hosts. It also
provides statistics and research related to the web services. |
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No. of Employees : |
6 |
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 : |
Small Company |
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 of 2008,
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 economic diversification and creating more job opportunities for nationals
through improved education and increased private sector employment.
|
Source
: CIA |
Company Name : PDR
SOLUTIONS FZC
Country of Origin : Ras Al
Khaimah, United Arab Emirates
Legal Form : Free
Zone Company - FZC
Registration Date : 12th
January 2012
Trade Licence
Number : 6002704
Issued Capital : UAE Dh
100,000
Paid up Capital : UAE Dh
100,000
Total Workforce :
6
Activities :
Providers of technology, communication, broadcasting and domain
sales and management services
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed : Praju Ghee
Varghese, Financial Controller
PDR SOLUTIONS FZC
Building : Office No. FC 19 &
20, Business Centre 4
Area : Business Park, RAK Free Trade
Zone
PO Box : 16113
Town : Ras Al Khaimah
Country : United Arab Emirates
Telephone : (971-7) 2046060
Facsimile : (971-7) 2046061
Email : fin-accn-ap@difzc.com
Subject operates
from a small suite of offices that are rented and located in the Ras Al Khaimah
Free Trade Zone.
Name Position
·
Brijesh
Joshi Managing
Director
·
Samir
Patel Sales
Manager
·
Praju
Ghee Varghese Financial
Controller
Date of Establishment : 12th
January 2012
Legal Form :
Free Zone Company - FZC
Trade Licence No. : 6002704
(Expires 21/01/2016)
Issued Capital : UAE Dh 100,000
Paid up Capital : UAE Dh 100,000
·
Endurance
Singapore Holding Pte Ltd 99%
Singapore
·
My
Internet Media Ltd 1%
Ireland
Activities: Engaged in the provision of technology,
communication, broadcasting and domain sales
and management services.
It offers domain registration
and resale, web hosting, website builder, and email hosting
services, provides consulting
services for domain registrar accreditation. It also provides
applications that include
interfaces, application programming interfaces, and software for
domain registration, web
hosting, email, secure sockets layer, and website builder tools
for domain registrars, domain
resellers, internet service providers, datacenters, and web
hosts. It also provides
statistics and research related to the web services.
Subject has a
workforce of 6 employees.
Companies registered
in Ras Al Khaimah, 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.
·
National
Bank of Ras Al Khaimah
NBRAK Building
PO Box: 5300
Ras Al Khaimah
Tel: (971-7) 2221127
Fax: (971-7) 2224202
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.65.29 |
|
|
1 |
Rs.99.31 |
|
Euro |
1 |
Rs.73.39 |
INFORMATION DETAILS
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Analysis Done by
: |
HEE |
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Report Prepared
by : |
NIT |
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 |
-- |
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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.