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Report No. : |
339797 |
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Report Date : |
09.09.2015 |
IDENTIFICATION DETAILS
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Name : |
BLUECREST GLOBAL GENERAL TRADING LLC |
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Registered Office : |
Grosvenor Business Bay Tower, Suite # 805, 8th Floor, Al Abraj Street, Business Bay, PO Box No.: 55934, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
09.05.2011 |
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Com. Reg. No.: |
1077904, Dubai |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Subject is engaged in the import and distribution of copper, ferrous
and non-ferrous metals, readymade garments and general foodstuffs |
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No. of Employees : |
8 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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) |
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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 : BLUECREST
GLOBAL GENERAL TRADING LLC
Country of Origin : Dubai,
United Arab Emirates
Legal Form : Limited
Liability Company - LLC
Registration Date : 9th
May 2011
Commercial
Registration Number : 1077904,
Dubai
Trade Licence
Number : 653585
Chamber Membership
Number : 200581
Issued Capital : UAE Dh
300,000
Paid up Capital : UAE Dh
300,000
Total Workforce :
8
Activities :
Distributors of copper, ferrous and non-ferrous metals, readymade
garments and general foodstuffs.
Financial Condition : Undetermined
Payments :
Unknown
BLUECREST GLOBAL GENERAL TRADING LLC
Building : Grosvenor Business Bay
Tower, Suite # 805, 8th Floor
Street : Al Abraj Street
Area : Business Bay
PO Box : 55934
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 4304392
Facsimile : (971-4) 4304310
Mobile : (971-52) 9468000
Email : info@bluecrestglobal.com
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Dubai.
Name Nationality Position
·
Prem
Kumar Aggrawal Nepalese Managing
Director
·
Paras
Jain Naresh Jain Indian Director
·
Obaid
Saeed Rashid Khilfan Al Shamsi Emirati Director
Date of Establishment : 9th
May 2011
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 1077904,
Dubai
Trade Licence No. : 653585
(Expires 08/05/2016)
Chamber Member No. : 200581
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
·
Obaid
Saeed Rashid Khilfan Al Shamsi 51%
·
Prem
Kumar Aggrawal 25%
·
Paras
Jain Naresh Jain 24%
Activities: Engaged
in the import and distribution of copper, ferrous and non-ferrous metals,
readymade
garments
and general foodstuffs.
Import
Countries: Europe and the
Far East
Subject has a
workforce of 8 employees.
Companies
registered in Dubai are not legally required to make their accounts public and
no financial information was released by the company or submitted by outside
sources.
·
Citibank
Khalid Bin Waleed Street
Bur Dubai
PO Box: 749
Dubai
Tel: (971-4) 2522100
Fax: (971-4) 2524942
Unknown
Local sources report
that the subject’s operating history is clear with payment obligations met in a
generally timely manner. The financial position is satisfactory and the company
is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.61 |
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UK Pound |
1 |
Rs.102.30 |
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Euro |
1 |
Rs.74.61 |
INFORMATION DETAILS
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Analysis Done by
: |
KAS |
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Report Prepared
by : |
VNT |
RATING EXPLANATIONS
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
-- |
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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.