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Report No. : |
341395 |
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Report Date : |
22.09.2015 |
IDENTIFICATION DETAILS
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Name : |
PHAAX DMCC |
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Registered Office : |
Jumeirah Bay Tower X2, Office No. 3709, Jumeirah Lake Towers, PO Box
33115, Dubai |
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Country : |
United
Arab Emirates |
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Date of Incorporation : |
25.11.2014 |
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Com. Reg. No.: |
19824 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Engaged in the import and distribution of pharmaceutical products,
advanced wound healing, immunology and anti-aging products. |
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No. of Employees : |
02 |
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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Maximum Credit Limit : |
US$ 20,000 |
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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 |
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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 $20 billion bailout from the UAE Central Bank and Abu
Dhabi-emirate government that was refinanced in March 2014. Dependence on oil,
a large expatriate workforce, and growing inflation pressures are significant
long-term challenges. The UAE's strategic plan for the next few years focuses
on economic diversification and creating more job opportunities for nationals
through improved education and increased private sector employment.
|
Source
: CIA |
Company Name :
PHAAX DMCC
Country of Origin :
Dubai, United Arab Emirates
Legal Form :
Limited Liability Company
Registration Date :
25th November 2014
DMCC Number :
19824, Dubai
Trade Licence Number :
083519
Chamber Membership Number :
251072
Issued Capital :
UAE Dh 50,000
Paid up Capital :
UAE Dh 50,000
Total Workforce :
2
Activities :
Distributors of pharmaceutical products, advanced wound healing,
immunology and anti-aging products.
Financial Condition :
Undetermined
Payments :
Unknown
Recommended Credit Limit :
US$ 20,000
PHAAX DMCC
Registered &
Physical Address
Building : Jumeirah Bay
Tower X2, Office No. 3709
Area : Jumeirah
Lake Towers
PO Box : 33115
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 5531041
Email : contact@phaax.com
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Dubai.
Name Position
Tamer Medhat Hussien Thabit Managing
Director
Date of Establishment : 25th November
2014
Legal Form : Limited Liability
Company
DMCC No. : 19824, Dubai
Trade Licence No. : 083519
Chamber Member No. : 251072
Issued Capital : UAE Dh 50,000
Paid up Capital : UAE Dh 50,000
Name of
Shareholder (s)
Tamer Medhat Hussien Thabit
Members of Mr Tamer Medhat Hussien Thabit’s family
Activities: Engaged in the import and distribution of pharmaceutical products,
advanced wound healing, immunology and anti-aging products.
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.
Dubai Islamic Bank
PO Box: 1080
Dubai
Tel: (971-4) 2953000
Fax: (971-4) 2954111
Unknown
Recommended
credit limit: US$ 20,000
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.65.75 |
|
|
1 |
Rs.102.17 |
|
Euro |
1 |
Rs.74.37 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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|
|
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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 |
|
|
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 |
-- |
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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.