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Report No. : |
345879 |
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Report Date : |
24.10.2015 |
IDENTIFICATION DETAILS
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Name : |
PM TRADING FZC |
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Registered Office : |
Saif Zone, Plot No. P8-05-19, P O Box: 120499 & 120375, Sharjah |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
08.09.2015 |
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Legal Form : |
Free Zone Company – FZC |
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Line of Business : |
Import and
Distribution of Gold, Silver and Precious Metals. |
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No. of Employees : |
2 |
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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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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 : PM TRADING
FZC
Country of Origin : Sharjah,
United Arab Emirates
Legal Form :
Free Zone Company - FZC
Registration Date : 8th
September 2015
Trade Licence
Number : 15741
Issued Capital : UAE Dh
100,000
Paid up Capital : UAE Dh
100,000
Total Workforce :
2
Activities :
Distributors of gold, silver and precious metals
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed : Safar Ahmed
Thankayathil, Managing Director
PM TRADING FZC
Location : Saif Zone, Plot No. P8-05-19
PO Box : 120499 & 120375
Town : Sharjah
Country : United Arab Emirates
Mobile : (971-56) 4550916 / 6324688
/ (971-50) 4627360
Email : trading.pmt@gmail.com
Subject operates
from a small suite of offices that are rented and located in the Saif Zone Area
of Sharjah.
Name Nationality Position
·
Safar Ahmed Thankayathil Indian
Managing
Director
·
Puneet Aroura Indian Director
Date of Establishment : 8th
September 2015
Legal Form :
Free Zone Company - FZC
Trade Licence No. : 15741 (Expires
07/09/2016)
Issued Capital : UAE Dh 100,000
Paid up Capital : UAE Dh 100,000
·
Safar Ahmed Thankayathil
·
Puneet Aroura
·
Saturn
Impex FZC
Sharjah
·
Seasky
Impex FZ LLC
Ras Al Khaimah
·
J Z
Trading FZE
Ras Al Khaimah
Activities: Engaged in the import and distribution of
gold, silver and precious metals.
Import
Countries: Europe and the
Far East
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 Sharjah
PO Box: 4
Sharjah
Tel: (971-6) 5547747
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
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Analysis Done by
: |
KIN |
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|
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|
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 |
|
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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 |
|
|
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.