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Report No. : |
342440 |
|
Report Date : |
25.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
SUPERFINE TRADING
FZE |
|
|
|
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Registered Office : |
RAK Free Zone, P O Box: 31291, Ras Al Khaimah |
|
|
|
|
Country : |
United Arab Emirates |
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|
|
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Date of Incorporation : |
22.08.2011 |
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|
|
|
Legal Form : |
Free Zone Establishment - FZE |
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|
|
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Line of Business : |
Import and
distribution of readymade garments, textiles, scrap metal and hardware. |
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|
|
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No. of Employees : |
2 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 : SUPERFINE
TRADING FZE
Country of Origin : Ras Al
Khaimah, United Arab Emirates
Legal Form :
Free Zone Establishment - FZE
Registration Date : 22nd
August 2011
Trade Licence
Number : RAKIA
51FZ60811445
Issued Capital : UAE Dh
150,000
Paid up Capital : UAE Dh
150,000
Total Workforce : 2
Activities :
Distributors of readymade garments, textiles, scrap metal and hardware
Financial Condition : Undetermined
Payments :
Unknown
Person Interviewed : Sunny John,
Administration Executive
SUPERFINE TRADING
FZE
Location : RAK Free Zone
PO Box : 31291
Town : Ras Al Khaimah
Country : United Arab Emirates
Physical Address
Location : M-29, Plot No. 312-226, Al Suq Al
Kabeer
PO Box : 47269
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3520010 / 2287194
Facsimile : (971-4) 2502117
Mobile : (971-55) 1034201
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Dubai.
Name Nationality Position
·
Ashish
Shah Indian Managing
Director
·
Sunny
John - Administration
Executive
Date of Establishment : 22nd
August 2011
Legal Form :
Free Zone Establishment -
FZE
Trade Licence No. : RAKIA
51FZ60811445
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
·
Ashish
Shah 100%
Activities: Engaged in the import and distribution of readymade
garments, textiles, scrap metal and hardware.
Import
Countries: Europe and the
Far East
Subject has a
workforce of 2 employees.
Companies
registered in Ras Al Khaimah, 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.
·
National
Bank of Ras Al Khaimah
NBRAK Building
PO Box: 5300
Ras Al Khaimah
Tel: (971-7) 2221127
Fax: (971-7) 2224202
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.66.10 |
|
|
1 |
Rs.100.89 |
|
Euro |
1 |
Rs.73.96 |
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.