|
Report No. : |
344246 |
|
Report Date : |
14.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
POWER GLOBE TRADING LLC |
|
|
|
|
Registered Office : |
Al Daghaya Street, Al Daghaya, PO Box
: 13334 & 88103, Dubai |
|
|
|
|
Country : |
United Arab Emirates |
|
|
|
|
Com. Reg. No.: |
74987, Dubai |
|
|
|
|
Legal Form : |
Limited Liability Company - LLC |
|
|
|
|
Line of Business : |
Subject is engaged in the import and distribution of building and construction
materials. |
|
|
|
|
No. of Employee : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
C |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
Status : |
Trade license expired |
|
|
|
|
Payment Behaviour : |
-- |
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|
|
|
Litigation : |
-- |
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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 :
POWER GLOBE TRADING LLC
Country of Origin :
Dubai, United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date :
6th July 2005
Commercial Registration Number :
74987, Dubai
Trade Licence Number :
559881
Chamber Membership Number :
98964
Issued Capital :
UAE Dh 300,000
Paid up Capital :
UAE Dh 300,000
Activities :
Import and distribution of building and construction materials
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
POWER GLOBE
TRADING LLC
Street : Al Daghaya
Street
Area : Al Daghaya
PO Box : 13334 &
88103
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 2858888
/ 2737901
Facsimile : (971-4)
2858888
Subject operates from a small suite of offices and a showroom that are
rented and located in the Central Business Area of Dubai.
Name Nationality Position
· Amjad Ali Inayat
Said Indian Managing
Director
Date of
Establishment : 6th
July 2005
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 74987, Dubai
Trade Licence No. : 559881 (Expired 26/07/2015)
Chamber Member No. : 98964
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
· Yellow Arch
General Trading LLC 51%
Arbift Tower, 5th
Floor
Dubai Creek Road
Dubai
Tel: (971-4)
2242262
· Amjad Ali Inayat
Said 49%
Activities: Engaged in the import and distribution of building and construction
materials.
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.
·
Habib Bank Ltd
Beniyas Square
PO Box: 3306
Dubai
Tel: (971-4)
3232212
--
Please note that the subject’s trade licence number 559881, expired on
26th July 2015. According to the local registry office they have
applied to stop the licence for a period of three years. They can however
re-activate their licence at any time by paying the renewal fees.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.02 |
|
|
1 |
Rs.99.89 |
|
Euro |
1 |
Rs.73.92 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ASH |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
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.