MIRA INFORM REPORT

 

 

 

Report No. :

347643

Report Date :

28.10.2015

 

IDENTIFICATION DETAILS

 

Name :

RHINE RIVER TRADING FZC

 

 

Registered Office :

Office No. 227, Business Centre 2, Business Park, Ras Al Khaimah Free Zone, PO Box 16851, Ras Al Khaimah

 

 

Country :

United Arab Emirates

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

14.03.2001

 

 

Com. Reg. No.:

40476

 

 

Legal Form :

Free Zone Company

 

 

Line of Business :

Subject is engaged in the import and distribution of office, school and hospital furniture.

 

 

No of Employees :

5

 

 

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 – June 1, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

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. In April 2004, the UAE signed a Trade and Investment Framework Agreement with Washington and in November 2004 agreed to undertake negotiations toward a Free Trade Agreement with the US; however, those talks have not moved forward. The country's Free Trade Zones - offering 100% foreign ownership and zero taxes - are helping to attract foreign investors. The global financial crisis, 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. The UAE Central Bank and Abu Dhabi-based banks bought the largest shares. In December 2009 Dubai received an additional $10 billion loan from the emirate of Abu Dhabi. 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 diversification and creating more opportunities for nationals through improved education and increased private sector employment.

 

Source : CIA

 

SUMMARY

 

Company Name                                     : RHINE RIVER TRADING FZC

Country of Origin                                    : Ras Al Khaimah, United Arab Emirates

Legal Form                                            : Free Zone Company - FZC

Registration Date                                   : 14th March 2001

Commercial Registration Number                        : 40476, Ras Al Khaimah

Issued Capital                                        : UAE Dh 150,000

Paid up Capital                                      : UAE Dh 150,000

Total Workforce                                     : 5

Activities                                               : Distributors of office, school and hospital furniture

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

 

COMPANY NAME

 

RHINE RIVER TRADING FZC

 

 

ADDRESS

 

Registered & Physical Address

 

Building             : Office No. 227, Business Centre 2, Business Park

Area                 : Ras Al Khaimah Free Zone

PO Box             : 16851

Town                 : Ras Al Khaimah

Country             : United Arab Emirates

Telephone         : (971-7) 2076059

Facsimile          : (971-7) 2076060

Mobile               : (971-50) 9852094

Email                : minnie@rhinert.com / Minnie@rhineriver.com

 

Premises

Subject operates from a small suite of offices that are rented and located in the Ras Al Khaimah Free Zone.

 

 

KEY PRINCIPALS

 

Name                                       Nationality                               Position

 

Deepak Vasu Raj                       Indian                                        Managing Director

Ms Minnie Bhasin                      Indian                                        Director

 

 

LEGAL FORM & OWNERS

 

Date of Establishment              : 14th March 2001

 

Legal Form                              : Free Zone Company - FZC

 

Commercial Reg. No.              : 40476, Ras Al Khaimah

 

Issued Capital                          : UAE Dh 150,000

 

Paid up Capital                        : UAE Dh 150,000

 

Name of Shareholder (s)

 

Deepak Vasu Raj

Ms. Minnie Bhasin

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of office, school and hospital furniture.

 

Import Countries: Europe and the Far East.

 

Operating Trend: Steady

 

Subject has a workforce of 5 employees.

 

 

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: United Arab Emirates Dirham (UAE Dh)

 

                                                Year Ending 31/12/12:              Year Ending 31/12/13:

 

Total Sales                                UAE Dh 9,625,000                     UAE Dh 10,110,000

 

Local sources consider subject’s financial condition to be Fair.

 

The above financial figures are based on estimations by our local sources.

 

 

BANKERS

 

National Bank of Ras Al Khaimah

NBRAK Building

PO Box: 5300

Ras Al Khaimah

Tel: (971-7) 2221127

Fax: (971-7) 2224202

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

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.64.96

UK Pound

1

Rs.99.73

Euro

1

Rs.71.84

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

NIT

 

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