MIRA INFORM REPORT

Report No. :	509061
Report Date :	17.05.2018

IDENTIFICATION DETAILS

Name :	BULLSEYE TRADING FZC
Registered Office :	Block F1, Office No. SM - Office F1-238A, Ajman Free Zone, 932 Ajman
Country :	United Arab Emirates
Date of Incorporation :	2010
Com. Reg. No.:	17795
Legal Form :	Free Zone Company
Line of Business :	· Trading as Importers and Suppliers of Chemical Raw Material and Plastic Polymers. · Providers of Freight Forwarding Services.
No. of Employees :	Not Available

RATING & COMMENTS

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

MIRA’s Rating :

B

Credit Rating	Explanation	Rating Comments
B	Medium Risk	Business dealings permissible on a regular monitoring basis

Status :	Moderate
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 (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, 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	BULLSEYE TRADING FZC
ADDRESS	Building	Street			Area		PO Box
	Block F1, Office No. SM - Office F1-238A	N/A			Ajman Free Zone		932 Ajman
TEL/FAX	Verified Phones: (+971 6) 559 6896 (continuously unattended) / Fax: (+971 6) 559 6897 (continuously unattended)
EMAIL/WEBSITE	Email: info@bullseyetradingfzc.com / hkhan4278@gmail.com / Website: www.bullseyetradingfzc.com
ACTIVITY	NACE 4675 - Wholesale of chemical products;
LEGAL INFO	Date Of Est.		Reg. No.	Legal Form		Status
	2010		17795	Free Zone Company		Expired

IDENTIFICATION
CO. NAME	BULLSEYE TRADING FZC
ENQUIRED NAME	BULLSEYE TRADING - F.Z.C
BUILDING	Block F1, Office No. SM - Office F1-238A
AREA	Ajman Free Zone
POSTAL ADDRESS	932 Ajman
CITY	Ajman
COUNTRY	United Arab Emirates
TELEPHONE	(+971 6) 559 6896 (continuously unattended)
FAX	(+971 6) 559 6897 (continuously unattended) * Several messages have been sent to the above fax number requesting a contact, however no reply have been received.
VERIFIED EMAIL	info@bullseyetradingfzc.com / hkhan4278@gmail.com * Several messages have been sent to the above email addresses requesting a contact, however no reply have been received.
NOTES	Our sources could not contact the subject and obtain a direct interview. No other telephone numbers are listed for the subject in the local telephone directory.
WEBSITE	www.bullseyetradingfzc.com
REGISTERED ADDRESS	Block F1, Office No. SM - Office F1-238A, Ajman Free Zone, 932 Ajman, United Arab Emirates

FINANCIAL SUMMARY
NOTES	Balance sheets are not available. Financial information could not be obtained from other sources.

LEGAL STATUS
INCORPORATION	2010
REGISTRATION NO.	C.R. NUMBER	ISSUED BY
	17795 (status: expired)	Ajman Free Zone
CAPITAL	Not given
LEGAL FORM	Free Zone Company
STATUS	Expired
SHAREHOLDERS	NAME	PERCENTAGE
	Details of subject’s shareholders could not be learnt. * 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	Details of subject’s bankers could be learnt.
ACTIVITY CODE (NACE)	NACE 4675 - Wholesale of chemical products;
LINE OF BUSINESS	Trading as importers and suppliers of chemical raw material and plastic polymers. Providers of freight forwarding services.
IMPORT FROM	China.
EXPORT TO	Middle East, Africa, India and Pakistan.
FACILITIES	Registered office premises located at the heading address.

PAYMENT RECORDS
CREDIT OPINION	Current trade experience of payments has not been traced. Our local sources could not contact the subject and obtain a direct interview.
FINANCIAL STRENGTH	No classification

SPECIAL REMARKS
INTERVIEWED	Third Party Sources. We approached via formal request letter the officials of Ajman Free Zone for accurate information on “Bullseye Trading FZC”. An amended report will be sent when/if this becomes available.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 67.83
UK Pound	1	INR 91.68
Euro	1	INR 80.29
UAE Dh	1	INR 18.44

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

INFORMATION DETAILS

Analysis Done by :	VIV
Report Prepared by :	TPT

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