MIRA INFORM REPORT

Report No. :	515942
Report Date :	22.06.2018

IDENTIFICATION DETAILS

Name :	MARYLINE INTERNATIONAL TRADING F.Z.E.
Registered Office :	309A, Block C1, Ajman Free Zone, Ajman, PO Box 53672, Dubai
Country :	United Arab Emirates
Financials (as on) :	31.12.2017 (Summarized)
Date of Incorporation :	23.12.2012
Com. Reg. No.:	7241
Legal Form :	Free Zone Establishment
Line of Business :	Trading as importers, re-exporters and wholesalers of foodstuff, grain, wheat, rice, sugar, dried fruits, refined sunflower oil, refined corn oil, vegetable & fresh fruits, jewellery products, crude palm oil, animal feed, spices as well as chemical products, urea and fertilizers.
No. of Employees :	(from 8 to 15)

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

A

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

Status :	Satisfactory
Payment Behaviour :	No Complaints
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

Country Name	Previous Rating (31.12.2017)	Current Rating (01.04.2018)
United Arab Emirates	A2	A2

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	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 from the oil and gas sector to 30%.

Since the discovery of oil in the UAE nearly 60 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 2008-09, 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 Government that was refinanced in March 2014.

The UAE’s dependence on oil is a significant long-term challenge, although the UAE is one of the most diversified countries in the Gulf Cooperation Council. Low oil prices have prompted the UAE to cut expenditures, including on some social programs, but the UAE has sufficient assets in its sovereign investment funds to cover its deficits. The government reduced fuel subsidies in August 2015, and has announced plans to introduce excise and value-added taxes by January 1, 2018. The UAE's strategic plan for the next few years focuses on economic diversification, promoting the UAE as a global trade and tourism hub, developing industry, and creating more job opportunities for nationals through improved education and increased private sector employment.

Source : CIA

BRIEF SUMMARY

COMPANY NAME	Maryline International Trading F.Z.E.
ADDRESS	Building	Area			City			PO Box
	309A, Block C1	Ajman Free Zone			Ajman			53672 Dubai
PHONE	Verified Phones: (+971 6) 559 1205 / (+971 55) 876 2086
EMAIL/WEBSITE	Email: matthewpabraham@gmail.com / marygoldtrading@gmail.com / info@marylinegroup.com / Website: www.marylinegroup.com
ACTIVITY	NACE 4617 - Agents involved in the sale of food, beverages and tobacco; NACE 4611 - Agents involved in the sale of agricultural raw materials, live animals, textile raw materials and semi-finished goods;
PRINCIPAL	Ms. Mary Shakeson					Workforce
	Managing Director					10
LEGAL INFO	Date Of Est.		Reg. No.	Legal Form			Status
	23/12/2012		7241	Free Zone Establishment			Active
CAPITAL	CURRENCY			AMOUNT
	AED			300,000

IDENTIFICATION

CO. NAME	Maryline International Trading F.Z.E.
BUILDING	309A, Block C1
AREA	Ajman Free Zone
POSTAL ADDRESS	53672 Dubai
CITY	Ajman
COUNTRY	United Arab Emirates
PHONE	(+971 6) 559 1205 / (+971 55) 876 2086 (Mathew Abraham) / (+971 50) 451 3846
VERIFIED EMAIL	matthewpabraham@gmail.com / marygoldtrading@gmail.com / info@marylinegroup.com / marylineinternationaltrading@gmail.com
WEBSITE	www.marylinegroup.com
BUSINESS HOURS	DAYS	OFFICE HOURS	BREAK TIME
	Sun-Thu	10:00-18:00	14:00-15:00
REGISTERED ADDRESS	309A, Block C1 Ajman Free Zone PO Box 53672 Dubai Ajman United Arab Emirates

SENIOR PERSONNEL

MANAGEMENT	NAME	POSITION
	Ms. Mary Shakeson	Managing Director
	Mathew Abraham	General Manager
WORKFORCE	NO. OF EMPLOYEES	PERIOD
	10 (vary from 8 to 15)	06.2018

FINANCIAL SUMMARY

TURNOVER	31/12/2017	31/12/2016
	USD 17,350,000	USD 9,890,000
NET PROFIT / (LOSS)	31/12/2017	31/12/2016
	USD 21,000	USD 14,000
TOTAL CAPITAL INVESTMENT	USD 81,745 as of June 2018
TOTAL VALUE OF CURRENT CONTRACTS	USD 3,460,000 as of June 2018
FISCAL YEAR-END	31 December.

LEGAL STATUS

INCORPORATION	23/12/2012
REGISTRATION NO.	C.R. NUMBER	ISSUED BY
	Trade License No.: 7241 (expiry date: 22/06/2019)	Ajman Free Zone Authority
AUTHORISED CAPITAL	AMOUNT	CURRENCY
	300,000	AED
PAID-UP CAPITAL	AMOUNT	CURRENCY
	300,000	AED
BUSINESS HISTORY	The Company was incorporated in Ajman Free Zone on 23 December 2012, however its origins of business activities can be traced back to 19 May 2004.
LEGAL FORM	Free Zone Establishment
STATUS	Active
SOLE SHAREHOLDER	NAME	PERCENTAGE
	Ms. Mary Shakeson Nationality: Indian * According to the Amiri decree no.3 of 1996 issued by H.H. Sheikh Humaid Bin Rashid Al Nuaimi, Ruler of Ajman, granting autonomous status to Ajman Free Zone (established 1988), a company incorporated in Ajman Free Zone shall be registered as one of the following: Free Zone Entity (FZE) is a legal entity owned (100%) by either a person or a corporate body, must have a capital equivalent to US DLRS 50,000, the liability of the owner is limited to the amount of the share capital; Free Zone Company (FZC) has a separate legal identity and the liability of its owner is limited to the value of the paid up shared capital: Branch of a foreign company - licenses under this category are issued to foreign companies established outside the UAE than intend to incept a branch or a subsidiary of their foreign registered company. The activity may be commercial, industrial or professional/services; branch of a local company- licenses under this category are issued to companies holding a valid license from any UAE licensing authority except from other Free Zones.	100.00%

OPERATION

BANKERS	1. Bank of Baroda Crystal Plaza, 105, King Faisal Street PO Box: 1671 Sharjah Telephone: (+971 6) 503 7900 Fax : (+971 6) 503 7921 2. National Bank of Ras Al Khaimah (RAKBANK) Khan Saheb Building 3rd Industrial Street Sharjah Industrial Area 10 P.O. Box 41010 Sharjah Telephone: (+971 4) 213 0000 3. Emirates NBD Bank (Fmly Emirates Bank International) Baniyas Square PO Box: 2923 Dubai Telephone: (+971 4) 228 3101 Fax : (+971 4) 222 6773 4. Commercial Bank of Dubai Al Mankool Street PO Box 2668 Dubai Telephone: (+971 4) 352 3355 Fax : (+971 4) 352 0444
ACTIVITY CODE (NACE)	4617 - Agents involved in the sale of food, beverages and tobacco; 4611 - Agents involved in the sale of agricultural raw materials, live animals, textile raw materials and semi-finished goods;
LINE OF BUSINESS	Trading as importers, re-exporters and wholesalers of foodstuff, grain, wheat, rice, sugar, dried fruits, refined sunflower oil, refined corn oil, vegetable & fresh fruits, jewellery products, crude palm oil, animal feed, spices as well as chemical products, urea and fertilizers.
IMPORT FROM	Worldwide, mainly from Middle East, CIS & African countries, Russia, Europe, Asia and Canada.
EXPORT TO	Worldwide, mainly to India.
FACILITIES	Rented premises comprising administrative offices located at the heading address as well as one office premises located elsewhere in Dubai.

SPECIAL REMARKS

INTERVIEWED

Mathew Abraham (General Manager).

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 68.19
UK Pound	1	INR 89.58
Euro	1	INR 78.79
AED	1	INR 18.45

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	PRA
Report Prepared by :	SUJ

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

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 are as follows:

· Financial condition covering various ratios

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

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