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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

498546

Report Date :

16.03.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

PRARAMB AGRI TRADING DMCC

 

 

Registered Office :

Unit No. 1898, DMCC Business Centre Level 1, Jewellery & Gemplex 3, Dubai

 

 

Country :

United Arab Emirates

 

 

Date of Incorporation :

01.09.2016

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Subject is engaged in the import and distribution of fruit, vegetables and other agricultural products

 

 

No. of Employees :

5

 

 

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

(30.09.2017)

Current Rating

(31.12.2017)

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. 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                                    : PRARAMB AGRI TRADING DMCC

Country of Origin                                   : Dubai, United Arab Emirates

Legal Form                                           : Limited Liability Company

Registration Date                                  : 1st September 2016

Trade Licence Number                           : 221170

Issued Capital                                       : UAE Dh 2,000,000

Paid up Capital                                     : UAE Dh 2,000,000

Total Workforce                                                : 5

Activities                                               : Distributors of fruit, vegetables and other agricultural products

Financial Condition                                : Undetermined

Payments                                             : Unknown

Person Interviewed                                : Alok Vhargara, Managing Director

 

 

 

COMPANY NAME

 

PRARAMB AGRI TRADING DMCC

 

 

ADDRESS

 

Registered & Physical Address

 

Location           : Unit No. 1898, DMCC Business Centre Level 1, Jewellery & Gemplex 3

Town                : Dubai

Country : United Arab Emirates

Telephone         : (971-4) 4567896

Facsimile          : (971-4) 4567896

Mobile              : (971-50) 4817409

Email                : alok@praramb.com

 

Premises

 

Subject operates from a small suite of offices and a warehouse that are rented and located in the Central Business Area of Dubai.

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Alok Vhargara                                                                                 Managing Director

·       Jude Ahomes                                                                                   Finance Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1st September 2016

 

Legal Form                  : Limited Liability Company

 

Trade Licence No.        : 221170

 

Issued Capital              : UAE Dh 2,000,000

 

Paid up Capital            : UAE Dh 2,000,000

 

Name of Shareholder (s)                                                      Percentage

 

·       Alok Vhargara                                                                      100%

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of fruit, vegetables and other agricultural products.

 

Import Countries: Germany, India and Kenya

 

International Suppliers:

 

·       GR Enterprises         India

 

Export Countries: GCC countries

 

Subject has a workforce of 5 employees.

 

 

FINANCIAL DATA

 

Subject is a newly formed business and as a result financial information is not currently available.

 

 

BANKERS

 

·       Mashreq Bank

Sheikh Zayed Road

4th Interchange

Dubai

Tel: (971-4) 5118601

 

 

PAYMENT HISTORY

 

Unknown

 

 

GENERAL COMMENTS

 

The subject and its shareholders/owners have been searched in the following databases; Office of Foreign Assets Control (OFAC), United Nations Security Council Sanctions, Australian Sanctions List, US Consolidated Sanctions List, EU Financial Sanctions List and UK Financial Sanctions List and nothing adverse could be found on the exact names listed within the report.

 

In view of subject’s infancy, extensive payment and financial records 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

INR 64.94

UK Pound

1

INR 90.73

Euro

1

INR 80.32

UAE Dh

1

INR 17.67

 

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

VIV

 

 

Report Prepared by :

NIT

 

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