MIRA INFORM REPORT

Report No. :	509884
Report Date :	21.05.2018

IDENTIFICATION DETAILS

Name :	MOONSHINE GLOBAL TRADING FZE
Registered Office :	B.C. 1300609, Ajman Free Zone, United Arab Emirates
Country :	United Arab Emirates
Date of Incorporation :	04.05.2017
Com. Reg. No.:	21818
Legal Form :	Free Zone Establishment
Line of Business :	Non-specialised wholesale trade
No. of Employees :	7

RATING & COMMENTS

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

MIRA’s Rating :

NB

Credit Rating	Explanation	Rating Comments
NB	New Business	No recommendation can be done due to business in infancy stage

Status :	New Business
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

company SUMMARY
COMPANY NAME	Moonshine Global Trading FZE
ADDRESS	Building	Area			Street		PO Box
	B.C. 1300609	Ajman Free Zone			N/A		Subject does not use Postal Address
PHONE	Verified Phone: (+971 55) 133 4939
EMAIL/WEBSITE	Email: manishgoyal03@gmail.com / Website: N/A
ACTIVITY	NACE 4690 - Non-specialised wholesale trade;
PRINCIPAL	M. Azerwal					Workforce
	Managing Director					7
LEGAL INFO	Date Of Est.		Reg. No.	Legal Form			Status
	04/05/2017		21818	Free Zone Establishment			Active
CAPITAL	CURRENCY			AMOUNT
	AED			200,000

BUSINESS INFORMATION REPORT

IDENTIFICATION
CO. NAME	Moonshine Global Trading FZE
ENQUIRED NAME	Moonshine Global Trading - F.Z.E
BUILDING	B.C. 1300609
AREA	Ajman Free Zone
POSTAL ADDRESS	Subject currently does not use Postal Address
CITY	Ajman
COUNTRY	United Arab Emirates
PHONE	(+971 55) 133 4939
VERIFIED EMAIL	manishgoyal03@gmail.com / ms1111trading@gmail.com
BUSINESS HOURS	DAYS	OFFICE HOURS	BREAK TIME
	Sun-Thu	09:00-17:00	13:00-13:30
REGISTERED ADDRESS	B.C. 1300609, Ajman Free Zone, United Arab Emirates

SENIOR PERSONNEL
MANAGEMENT	NAME	POSITION
	M. Azerwal	Managing Director
	Manish Goyal Rahul Jain	Executive Manager Sales Manager
WORKFORCE	NO. OF EMPLOYEES	PERIOD
	7	05.2018

FINANCIAL SUMMARY
NOTES	As the Buyer has only recently been established, relevant financial information is not available. However, the subject interviewed offered the following information : Sales Turnover: AED 8,000,000 – 2017 * AED 15,000,000 – 2018 (Projected) Net Profit: not given but stated to be 5-10% of the sales * First 7 months of operations (May-December).
FISCAL YEAR-END	31 December

LEGAL STATUS
INCORPORATION	04/05/2017
REGISTRATION NO.	C.R. NUMBER	ISSUED BY
	Trade License No.: 21818 (expiry date: 03/05/2019)	Ajman Free Zone
AUTHORISED CAPITAL	AMOUNT	CURRENCY
	200,000	AED
PAID-UP CAPITAL	AMOUNT	CURRENCY
	200,000	AED
LEGAL FORM	Free Zone Establishment
BUSINESS HISTORY	The Company was incorporated in Ajman Free Zone on 4 May 2017.
STATUS	Active
SHAREHOLDERS	NAME	PERCENTAGE
	M. Azerwal 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	National Bank of Ras Al Khaimah (P.J.S.C) (aka RAK Bank) Al Qusais Branch Dubai Residential Oasis, Damascus Rd. Dubai UAE Telephone: (+971 4) 213 0000 Subject’s administrative offices is located in Ajman Free Zone but maintains its bankers in Dubai.
ACTIVITY CODE (NACE)	NACE 4690 - Non-specialised wholesale trade;
LINE OF BUSINESS	Trading as importers, wholesalers and re-exporters of scrap paper. Subject’s shipping agents include: GOODRICH MARITIME Pvt.Ltd. Suite # 216/217, 2nd Floor, Sai Commercial Centre, Govandi Station Rd, Mumbai MH India Telephone: (+91 22) 5597 3901
IMPORT FROM	South Africa
EXPORT TO	India
TRADE REFERENCES	Gayatrishakti Paper & Boards Limited Plot No. 795/2, Industrial Area Rd, Industrial Area, 40 Shed Area, Near Doli Engineering, Phase 2, GIDC, Vapi, Gujarat 396195 India Telephone: (+91 93) 2274 0032
FACILITIES	Leased premises comprising administrative offices located at the heading address.

SPECIAL REMARKS
INTERVIEWED	Rahul Jain (Sales Manager).

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 67.96
UK Pound	1	INR 91.88
Euro	1	INR 80.26
UAE DH	1	INR 18.55

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

INFORMATION DETAILS

Analysis Done by :	PRA
Report Prepared by :	KET

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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