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Report No. : |
341370 |
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Report Date : |
16.09.2015 |
IDENTIFICATION DETAILS
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Name : |
CAMARA EXIM LTD |
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Registered Office : |
LOB No. 21, 1st Floor, Office 18, Jebel Ali Free Zone,
Dubai |
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Country : |
United
Arab Emirates |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
11.08.2004 |
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Legal Form : |
Branch of a Foreign Registered Corporation |
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Line of Business : |
Engaged in the import, export and distribution of petrochemicals, foam
chemicals, industrial machinery, motor cycles and dairy products. |
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No. of Employees : |
13 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Branch of a Foreign Registered Corporation |
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Payment Behaviour : |
No Complaints |
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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 |
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Moderate |
B1 |
|
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.
|
Source
: CIA |
Company Name :
CAMARA EXIM LTD
Country of Origin :
British Virgin Islands
Legal Form :
Branch of a Foreign Registered Corporation
Registration Date :
11th August 2004
Trade Licence Number :
5262
Chamber Membership Number : 192227
Issued Capital :
UAE Dh 500,000
Paid up Capital :
UAE Dh 500,000
Total Workforce : 13
Activities : Distributors of petrochemicals,
foam chemicals, industrial machinery,
motor cycles and dairy products.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Jablint Singh Malhotra, Sales Manager
CAMARA EXIM LTD
Registered Address
Location : LOB No. 21, 1st
Floor, Office 18
Area : Jebel Ali
Free Zone
Town : Dubai
Country : United Arab Emirates
Physical Address
Location : Unit No. 2301 & 2303, 23rd Floor,
Plot Y3, Swiss Tower, Jumeirah Lakes Towers
PO Box : 262570
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 4356626 / 4356636
Facsimile : (971-4) 4356607
Mobile :
(971-50) 4570946
Email : marciel@camaraexim.com
/ info@camaraexim.com
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Dubai.
Name Position
Aditya Chella Ram President
Kishore Bhambhani General
Manager
Radha Krishnan Chief
Financial Officer
Naresh Ghori Accountant
Jablint Singh Malhotra Sales
Manager
Date of Establishment : 11th August
2004
Legal Form : Subject is the
United Arab Emirates registered branch of Camara Exim Ltd, a Limited
Liability Company incorporated in the
British Virgin Islands.
Camara Exim Ltd in the United Arab Emirates,
operates as a Branch of a Foreign Registered Corporation with its
registered office located at the following address:
Camara Exim Ltd
Abbot Building
PO Box: 3186
Tortola
British Virgin Islands
A Branch
of a Foreign Registered Corporation is not a legal entity in its own right.
Responsibility for payments lays in the hands of the company where it is
originally registered.
Under these circumstances, we strongly
advise that any international trade credit should only be written under the
name of the main company where the subject holds its registered office, in this
case the British Virgin Islands.
Trade Licence No. : 5262
Chamber Member No. : 192227
Issued Capital : UAE Dh 500,000
Paid up Capital : UAE Dh 500,000
Activities: Engaged in the import, export and distribution of petrochemicals, foam
chemicals, industrial machinery, motor cycles and dairy products.
Import Countries: Europe, India and China
International Clients:
Chellarams Nigeria
Chelco Industries Nigeria
International Suppliers:
Godrej Industries India Ltd India
Aceally International Group Co Ltd China
Operating Trend: Steady
Subject has a workforce of 13 employees.
Financial highlights provided by local sources are given below:
Currency: United States Dollars (US$)
Year Ending 31/12/13: Year Ending 31/12/14:
Total Sales US$
107,600,000 US$
109,250,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Jablint Singh Malhotra, Sales
Manager
Arab Bank Plc
Ittihad Street
PO Box: 11364
Dubai
Tel: (971-4) 2228845
Fax: (971-4) 2285974 / 2940847
No complaints regarding subject’s payments have been reported.
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.66.44 |
|
|
1 |
Rs.102.41 |
|
Euro |
1 |
Rs.75.05 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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|
|
|
Report Prepared
by : |
TPT |
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 |
|
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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 |
|
|
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 |
|
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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 |
-- |
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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.
S