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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

516014

Report Date :

26.06.2018

 

IDENTIFICATION DETAILS

 

Name :                                

MARLIN MARITIME TRADING LTD

 

 

Registered Office :

Dubai Trading Centre, Office 1602, Dubai, 48904, Dubai

 

 

Country :

United Arab Emirates

 

 

Date of Incorporation :

2015

 

 

Com. Reg. No.:

IBC/05/16/12849

 

 

Legal Form :

An offshore company, LLC

 

 

Line of Business :

Non-specialised wholesale trade

 

[We tried to confirm / obtain the detailed activity but the same is not available from any sources]

 

 

No. of Employees :

Not available

 

 

RATING & COMMENTS

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

 

MIRA’s Rating :

C

 

Credit Rating

Explanation

Rating Comments

C

Medium High Risk

Business dealings permissible preferably on secured basis

 

Status :

Offshore company

 

 

Payment Behaviour :

Unknown

 

 

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

 

 

SUMMARY 

 

 

 

COMPANY NAME

Marlin Maritime Trading Ltd

 

ADDRESS

Building

City

Country

PO Box

Dubai Trading Centre, Office 1602

Dubai

United Arab Emirates

48904

Dubai

TEL/FAX 

Verified Phones: (+971 50) 946 6806 / (+971 6) 511 8630

EMAIL/WEBSITE

Email: mazeem@mashreq.com / Website: N/A 

ACTIVITY

NACE 4690 - Non-specialised wholesale trade;

LEGAL INFO 

 

Date Of Est.

Reg. No.

Legal Form

Status

2015 (not confirmed)

IBC/05/16/12849

An offshore company, LLC

Not confirmed  

 

 

IDENTIFICATION

 

CO. NAME

Marlin Maritime Trading Ltd

BUILDING 

Dubai Trading Centre, Office 1602

POSTAL ADDRESS

48904 Dubai

CITY

Dubai

COUNTRY

United Arab Emirates

TELEPHONE

(+971 50) 946 6806 (Muhammad Azeem) / (+971 6) 511 8630 (Muhammad Azeem)

VERIFIED EMAIL

mazeem@mashreq.com

BUSINESS HOURS

DAYS

OFFICE HOURS

BREAK TIME

Sun-Thu

09:00-17:00

13:00-13:30

 

 

SENIOR PERSONNEL

 

MANAGEMENT

NAME

POSITION

Muhammad Azeem

Relationship Manager at Mashreq Bank PSC  

Subject’s Relationship Manager at Mashreq Bank PSC declined to provide subject’s directors name.

 

 

 

FINANCIAL SUMMARY

 

NOTES     

Private companies in UAE are not required to publish or disclose balance sheets. Balance sheets are not available from other sources, and the subject interviewed declined to give any financial information, which the company regards as strictly confidential.

 

 

LEGAL STATUS 

 

INCORPORATION

2015 (not confirmed)

REGISTRATION NO.       

C.R. NUMBER

ISSUED BY  

Registration No.: IBC/05/16/12849

RAK Investment Authority (RAKIA)

CAPITAL     

Not given

LEGAL FORM     

An offshore company, LLC

STATUS

Not confirmed 

SHAREHOLDERS  

NAME  

PERCENTAGE

Subject’s Relationship Manager at Mashreq Bank PSC declined to name its management and shareholding structure.

00.00% 

 

 

OPERATION 

 

BANKERS   

Mashreq Bank PSC

Omar Bin Al Khattab Street

PO Box 1250

Deira

Telephone: (+971 4) 424 4444

Fax      : (+971 4) 222 3333

ACTIVITY CODE (NACE)    

4690 - Non-specialised wholesale trade;

LINE OF BUSINESS    

General trading company.

IMPORT FROM 

Details of subject’s imports details could not be learnt.

EXPORT TO 

Details of subject’s exports details could not be learnt.

FACILITIES

Premises comprising office premises located at the heading address.  

 

 

PAYMENT RECORDS 

 

CREDIT OPINION   

Current trade experience of payments has not been traced. Subject declined to give any financial, general background or antecedent information or to reveal the extent of the company’s operation.

 

 

SPECIAL REMARKS 

 

INTERVIEWED   

Muhammad Azeem (Relationship Manager at Mashreq Bank PSC).

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 68.15

UK Pound

1

INR 90.27

Euro

1

INR 79.35

UAE Dh

1

INR 18.56

 

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

VIV

 

 

Report Prepared by :

SYL

                                                


 

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)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.