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Report No. : |
339847 |
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Report Date : |
10.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
PCM MIDDLE EAST
FZE |
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|
|
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Registered Office : |
Office No. 741, Building 5, East Wing, Block B, Dubai Airport Free Zone Area, P O Box: 293527, Dubai |
|
|
|
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Country : |
United Arab Emirates |
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Date of Incorporation : |
26.03.2006 |
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Legal Form : |
Free Zone Establishment - FZE |
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Line of Business : |
Import and
Distribution of Industrial Pumps. |
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No. of Employees : |
12 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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) |
|
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 : PCM MIDDLE
EAST FZE
Country of Origin : Dubai,
United Arab Emirates
Legal Form :
Free Zone Establishment - FZE
Registration Date : 26th
March 2006
Trade Licence
Number : 972
Chamber Membership
Number : 219644
Issued Capital : UAE Dh
1,000,000
Paid up Capital : UAE Dh
1,000,000
Total Workforce : 12
Activities :
Distributors of industrial pumps.
Financial Condition : Undetermined
Payments :
Unknown
Operating Trend : Steady
PCM MIDDLE EAST FZE
Building : Office No. 741,
Building 5, East Wing, Block B
Area : Dubai Airport Free Zone Area
PO Box : 293527
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2045848
Subject operates
from a small suite of offices that are rented and located in the Airport Free
Zone Area of Dubai.
Name Nationality Position
·
Abdelraouf
Ben Amara French Managing
Director
Date of Establishment : 26th
March 2006
Legal Form :
Free Zone Establishment -
FZE
Trade Licence No. : 972
(Expires 27/03/2016)
Chamber Member No. : 219644
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
·
Abdelraouf
Ben Amara 100%
Activities: Engaged in the import and distribution of
industrial pumps.
Import
Countries: Europe and the
Far East
Subject has a
workforce of 12 employees.
Companies registered
in Dubai, United Arab Emirates are not legally required to make their accounts
public and no financial information was released by the company or submitted by
outside sources.
·
Arab
Emirates Investment Bank Ltd
Deira Branch
PO Box: 5503
Dubai
Tel: (971-2) 2222191
Unknown
Local sources
report that subject meets its payments in a timely manner and is considered to
be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.29 |
|
|
1 |
Rs.101.89 |
|
Euro |
1 |
Rs.73.98 |
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.