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Report No. : |
345878 |
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Report Date : |
23.10.2015 |
IDENTIFICATION DETAILS
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Name : |
SEASKY IMPEX FZ LLC |
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Registered Office : |
Al Jazeera Al Hamra, RAK Free Zone 31291 Ras Al Khaimah |
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Country : |
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Date of Incorporation : |
08.01.2015 |
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Legal Form : |
Free Zone Company
– FZ LLC |
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Line of Business : |
Engaged in the import and distribution of precious metals, gold, silver and diamond jewellery as well as ferrous and non-ferrous scrap metals, including different types of steel, aluminium, brass, copper cathodes and copper concentrates. |
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No. of Employee : |
3 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New business |
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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 |
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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.
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Source
: CIA |
Company Name : SEASKY IMPEX FZ
LLC
Country of Origin : Ras Al Khaimah, United Arab Emirates
Legal Form :
Free Zone Company – FZ LLC
Registration Date : 8th
January 2015
Trade Licence
Number : RAKIA
51FZ301157588
Issued Capital : UAE Dh
100,000
Paid up Capital : UAE Dh
100,000
Total Workforce : 3
Activities :
Distributors of precious metals, gold, silver and diamond jewellery as well as
ferrous and non-ferrous scrap metals.
Financial Condition : Undetermined
Payments :
Unknown
Person Interviewed : Safar Ahmed
Thankayathil, Managing Director
SEASKY IMPEX FZ LLC
Location : Al Jazeera Al Hamra, RAK Free Zone
PO Box : 31291
Town : Ras Al Khaimah
Country : United Arab Emirates
Mobile : (971-50) 4627360 / (971-56)
4208223
Email : infoseaskyimpex@gmail.com / info@seaskyimpex.ae
Subject operates
from a small suite of offices that are rented and located in the Free Zone Area
of Ras
Al Khaimah.
Name Nationality Position
·
Safar Ahmed Thankayathil Indian Managing
Director
·
Virandran Pal Singh Indian Director
Date of Establishment : 8th
January 2015
Legal Form :
Free Zone Company – FZ LLC
Trade Licence No. : RAKIA
51FZ301157588 (Expires 09/01/2016)
Issued Capital : UAE Dh 100,000
Paid up Capital : UAE Dh 100,000
·
Safar Ahmed Thankayathil
·
Virandran Pal Singh
·
Saturn
Impex FZC
Sharjah
·
Seasky
Impex FZ LLC
Ras Al Khaimah
·
Minor
Metals Trading FZC
Sharjah
·
P M
Trading FZC
Sharjah
Activities: Engaged in the import and distribution of
precious metals, gold, silver and diamond jewellery as well as ferrous and
non-ferrous scrap metals, including different types of steel, aluminium, brass,
copper cathodes and copper concentrates.
Import
Countries: Europe and the
Far East
Subject has a
workforce of 3 employees.
Subject is a newly
formed business and as a result financial information is not currently
available.
·
National
Bank of Ras Al Khaimah
NBRAK Building
PO Box: 5300
Ras Al Khaimah
Tel: (971-7) 2221127
Fax: (971-7) 2224202
Unknown
In view of
subject’s infancy, extensive payment and financial are not available, therefore
dealings are recommended to be on secured terms, and a close monitoring of
subject’s business development is advisable.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.15 |
|
|
1 |
Rs.100.53 |
|
Euro |
1 |
Rs.73.97 |
INFORMATION DETAILS
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Analysis Done by
: |
HNA |
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Report Prepared
by : |
ANK |
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 |
|
<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.