MIRA INFORM REPORT
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Report No. : |
342115 |
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Report Date : |
24.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
CLARTE GENERAL
TRADING FZE |
|
|
|
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Registered Office : |
Hamriyah Free Zone 54050 Sharjah |
|
|
|
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Country : |
United Arab
Emirates |
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|
|
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Date of Incorporation : |
01.07.015 |
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|
|
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Legal Form : |
Free Zone
Establishment - FZE |
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|
|
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Line of Business : |
Subject holds a
general trade licence, enabling it to distribute general merchandise. |
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No. of Employee : |
1 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
-- |
NB |
New Business |
-- |
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Status : |
New business |
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|
|
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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 |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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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 annualTRADE
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 |
SUMMARY
Company Name : CLARTE
GENERAL TRADING FZE
Country of Origin : Sharjah,
United Arab Emirates
Legal Form :
Free Zone Establishment - FZE
Registration Date : 1st
July 2015
Trade Licence
Number : 14096
Issued Capital : UAE Dh
100,000
Paid up Capital : UAE Dh
100,000
Total Workforce : 1
Activities :
General trade licence
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
COMPANY
NAME
CLARTE GENERAL
TRADING FZE
ADDRESS
Registered & Physical
Address
Location : Hamriyah Free Zone
PO Box : 54050
Town : Sharjah
Country : United Arab Emirates
Mobile : (971-50) 9298484
Email : falakfarsaei@denoxrhone.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Hamriyah Free
Zone Area of Sharjah.
KEY
PRINCIPALS
Name Position
·
Sayed Huamid Falak Faraesi Managing
Director
LEGAL
FORM & OWNERS
Date of Establishment : 1st
July 2015
Legal Form :
Free Zone Establishment -
FZE
Trade Licence No. : 14096
Issued Capital : UAE Dh 100,000
Paid up Capital : UAE Dh 100,000
Name of
Shareholder (s) Percentage
·
Sayed Huamid Falak Faraesi 100%
OPERATIONS
Activities: Subject holds a general trade licence,
enabling it to distribute general merchandise.
Subject has a
workforce of 1 employee.
FINANCIAL
DATA
Subject is a newly
formed business and as a result financial information is not currently
available.
BANKERS
·
Sharjah
Islamic Bank
PO Box: 4
Sharjah
Tel: (971-6) 5547747
PAYMENT
HISTORY
Unknown
GENERAL
COMMENTS
Please note that we
were unable to contact the subject directly during our investigation.
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.65.97 |
|
|
1 |
Rs.101.19 |
|
Euro |
1 |
Rs.73.38 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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|
|
|
Report Prepared
by : |
ANK |
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.