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Report No. : |
345877 |
|
Report Date : |
24.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
J Z TRADING FZE |
|
|
|
|
Registered Office : |
Al Jazeera Al Hamra,
RAK Free Zone, P O Box: 31291, Ras Al Khaimah |
|
|
|
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Country : |
United Arab
Emirates |
|
|
|
|
Date of Incorporation : |
01.10.2014 |
|
|
|
|
Legal Form : |
Free Zone Establishment - FZE |
|
|
|
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Line of Business : |
Import and distribution
of precious metals, gold, silver and jewellery as well as ferrous and
non-ferrous metals. In ferrous materials they offer HMS, shredded steel, LMS
bundles, steel turning, plate and structural scrap. In non-ferrous materials
they offer various types of aluminium, copper, zinc and lead scraps. |
|
|
|
|
No. of Employees : |
2 |
RATING & COMMENTS
|
MIRA’s Rating : |
NB |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
-- |
NB |
New Business |
-- |
|
|
Status : |
New Business |
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|
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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 |
|
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 : J Z TRADING FZE
Country of Origin : Ras Al
Khaimah, United Arab Emirates
Legal Form :
Free Zone Establishment - FZE
Registration Date : 1st
October 2014
Trade Licence
Number : 7448
Issued Capital : UAE Dh
150,000
Paid up Capital : UAE Dh
150,000
Total Workforce :
2
Activities :
Distributors of precious metals, gold, silver and jewellery as well
as ferrous and non-ferrous metals.
Financial Condition : Undetermined
Payments :
Unknown
J Z TRADING FZE
Location : Al Jazeera Al Hamra, RAK Free Zone
PO Box : 31291
Town : Ras Al Khaimah
Country : United Arab Emirates
Mobile : (971-50) 3689199 / 4627360
/ (971-56) 4208223
Email : jztrading.jz@gmail.com / info@jztrading.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
·
Puneet Aroura Indian Managing
Director
Date of Establishment : 1st
October 2014
Legal Form :
Free Zone Establishment -
FZE
Trade Licence No. : 7448 (Expires
30/09/2016)
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
·
Puneet Aroura 100%
·
Saturn
Impex FZC
Sharjah
·
P M
Trading FZC
Sharjah
Activities: Engaged in the import and distribution of precious
metals, gold, silver and jewellery as well as ferrous and non-ferrous metals.
In ferrous materials they offer HMS, shredded steel, LMS bundles, steel
turning, plate and structural scrap. In non-ferrous materials they offer
various types of aluminium, copper, zinc and lead scraps.
Export Countries: India, South Korea, Malaysia, Pakistan, Thailand, Vietnam and
Singapore.
Subject has a
workforce of 2 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
Fa : (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.64.88 |
|
|
1 |
Rs.99.89 |
|
Euro |
1 |
Rs.72.06 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NIT |
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.