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Report No. : |
344498 |
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Report Date : |
10.10.2015 |
IDENTIFICATION DETAILS
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Name : |
AL RAHMA GENERAL TRADING FZE |
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Registered Office : |
Office No. 8, Flexi Desk No. 283, Mezzanine Floor, Hong Kong Tower, Rakia
Amenity Centre, Al Jazeer Al Hamra, 81325, Ras Al Khaimah |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
23.11.2011 |
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Legal Form : |
Free Zone Establishment - FZE |
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Line of Business : |
Subject is engaged in the import and distribution of textiles,
readymade garments, ferrous and non-ferrous metals. |
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No. of Employees : |
2 |
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 : |
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) |
|
UAE |
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 |
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. 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 : AL RAHMA
GENERAL TRADING FZE
Country of Origin : Ras Al
Khaimah, United Arab Emirates
Legal Form :
Free Zone Establishment - FZE
Registration Date : 23rd
November 2011
Trade Licence
Number : RAKIA
52F311114837
Issued Capital : UAE Dh
150,000
Paid up Capital : UAE Dh
150,000
Total Workforce : 2
Activities :
Distributors of textiles, readymade garments, ferrous and non-ferrous
metals.
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed : Abisheikh
Bharat Duwaj, Sales Manager
AL RAHMA GENERAL TRADING FZE
Building : Office No. 8,
Flexi Desk No. 283, Mezzanine Floor, Hong Kong Tower, Rakia Amenity Centre
Area : Al Jazeer Al
Hamra
PO Box : 81325
Town : Ras Al
Khaimah
Country : United Arab
Emirates
Mobile : (971-55)
4900702 / 5970506
Email : info@alrahmageneraltrading.com
Subject operates from a small sized suite of offices that are rented and
located in the Central Business Area of Ras Al Khaimah.
Name Nationality Position
· Rajesh Kumar
Agrawal Indian Managing
Director
· Abisheikh Bharat
Duwaj - Sales
Manager
Date of
Establishment : 23rd
November 2011
Legal Form : Free Zone
Establishment - FZE
Trade Licence No. : RAKIA 52F311114837 (Expires 22/11/2015)
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
· Rajesh Kumar
Agrawal 100%
Activities: Engaged in the import and distribution of textiles, readymade garments,
ferrous and non-ferrous metals.
Import Countries: Europe and the Far East
Subject has a workforce of 2 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.64.78 |
|
UK Pound |
1 |
Rs.99.54 |
|
Euro |
1 |
Rs.73.08 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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|
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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 |
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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.