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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

511061

Report Date :

28.05.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

RAWTRADE INTERNATIONAL FZE

 

 

Registered Office :

5W Building, Office 246, Al Quds Street, Block B Dubai Airport Free Zone 371303 Dubai

 

 

Country :

United Arab Emirates

 

 

Financials (as on) :

31.12.2017

 

 

Date of Incorporation :

22.09.2015

 

 

Com. Reg. No.:

3015  

 

 

Legal Form :

Free Zone Establishment 

 

 

Line of Business :

Subject is engaged in Wholesale of chemical products.

 

 

No. of Employees :

5

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd 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 :

Slow but Correct

 

 

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

RawTrade International FZE

 

ADDRESS

Building

Street

Area

PO Box

5W Building, Office 246

Al Quds Street, Block B

Dubai Airport Free Zone

371303

Dubai

PHONE  

Verified Phones: (+971 4) 231 4444 / Mobile (+971 56) 477 1596 (Managing Director)

EMAIL/WEBSITE

Email: info@rawtrade.ae / Website: www.rawtrade.ae

ACTIVITY 

NACE 4675 - Wholesale of chemical products;

PRINCIPAL 

Sreeram Pativada

Workforce 

Managing Director 

5   

LEGAL INFO 

 

Date Of Est.

Reg. No.

Legal Form

Status

22/09/2015

3015  

Free Zone Establishment 

Active

 

 

IDENTIFICATION

 

CO. NAME

RawTrade International FZE

ENQUIRED NAME

Raw Trade International FZE

BUILDING

5W Building, Office 246

STREET

Al Quds Street, Block B

AREA

Dubai Airport Free Zone

POSTAL ADDRESS

371303 Dubai

CITY

Dubai

COUNTRY

United Arab Emirates

TELEPHONE

(+971 4) 231 4444 / Mobile (+971 56) 477 1596 (Managing Director)

VERIFIED EMAIL

info@rawtrade.ae / charlyn.bobis@rawtrade.ae

WEBSITE

www.rawtrade.ae

BUSINESS HOURS (DURING RAMADAN)

DAYS

OFFICE HOURS

BREAK TIME

Sun-Thu

09:00-15:00

Without Break

REGISTERED ADDRESS

Building No. 4W, Block B, Office No G42, Dubai Airport Free Zone, PO Box 371303 Dubai, United Arab Emirates. *

 

* Subject is planning to change its current registered office address to the following:

5W Building, Office 246

Al Quds Street Block B

Dubai Airport Free Zone

PO Box 371303

Dubai

 

The process is expected to be completed by September 2018, when subject will renew its license.       

FORMER ADDRESS

Until mid-May 2018, subject’s administrative office address was located at:

 

Building No. 4W, Block B, Office No G42

Dubai Airport Free Zone

PO Box 371303

United Arab Emirates

 

 

SENIOR PERSONNEL

 

MANAGEMENT

NAME

POSITION

Sreeram Pativada

Managing Director 

Charlyn Bobis

Business Development Engineer

WORKFORCE

NO. OF EMPLOYEES

PERIOD

5 

05.2018

 

 

FINANCIAL SUMMARY

 

REVENUE  

31/12/2017

31/12/2018 (Projected)

AED 4,000,000

AED 4,800,000

NET PROFIT / (LOSS)    

Not given but stated to be profitable

FISCAL YEAR-END 

31 December. 

 

 

LEGAL STATUS 

 

INCORPORATION

22/09/2015

REGISTRATION NO.       

C.R. NUMBER

ISSUED BY 

Trade License No.: 3015 (expiry date: 21/09/2018)

Dubai Airport Free Zone (DAFZ)

CAPITAL     

Not given

BUSINESS HISTORY

The Company was incorporated in Dubai Airport Free Zone (DAFZ) on 22 September 2015.  

LEGAL FORM     

Free Zone Establishment 

STATUS

Active

OWNER  

NAME  

PERCENTAGE

Sreeram Pativada

Nationality: Indian

 

* According to Law No.2, 1996 governing the establishment of companies at Dubai Airport Free Zone, a company incorporated in DAFZA shall be registered as one of the following:  branch of the company registered in UAE or branch of the company incorporated outside UAE; FZE (a limited liability establishment incorporated in DAFZA, owned by one natural or juridical person with a distinct legal entity and independent financial liability. Min. capital of Dh 1,000,000); FZCO (A limited liability company incorporated in DAFZA, by more than one shareholder, with a distinct legal entity and independent financial liability Min. of 2 and Max. of 5 shareholders required for FZCO. The amount of share invested must be a min. of Dh 500,000 or multiples in hundred-thousand thereof.  

100.00%

 

 

OPERATION 

 

BANKERS   

Emirates NBD Bank (fmly Emirates Bank  

International)

Dubai Main Branch

Baniyas Road

PO Box 2923

Dubai

Telephone: (+971 4) 225 6900

Fax      : (+971 4) 226 7718

ACTIVITY CODE (NACE)    

NACE 4675 - Wholesale of chemical products;

LINE OF BUSINESS    

Trading as importers, exporters and wholesalers of chemical products, petrochemicals, chemical fertilizers as well as specialty chemicals.

 

Subject’s range of products includes:

 

Fertilizers:

- Granular SOP;

- Standard SOP;

- Soluble (organic) SOP;

- Humic acid for organic farming;

- Humic acid for lawns and garden soil;

- Diammonium phosphate (DAP);

- Ferrous sulphate;

- Manganese sulphate monohydrate;

- Monoammonium phosphate (MAP);

- Monopotassium phosphate (MKP);

- Potassium nitrate (NOP);

- Urea (Granular);

- Zinc sulphate heptahydrate;

- Zinc sulphate monohydrate;

 

Petrochemicals:

Polymers;

Polymer Intermediates;

Polymer Sheets;

Feed stock/ distillates;

Masterbatches;

Acetic Acid;

Eltyl Acetate;

Butyl Acetate;

Pthalic Anhydride.

 

Speciality Chemicals:

Fumes Silicia;

Neopentyl Glycol;

Titanium Dioxide;

Sodium Cyanide;

Yanfloc (flocculant);

Sodium Chlorite.

IMPORT FROM 

GCC and South East Asian countries.

EXPORT TO 

Middle Eastern and African countries, Europe, Asia as well as Americas.

FACILITIES

Leased premises comprising administrative offices located at the heading address. 

RELATED COMPANIES

Associate

 

RawTrade International

13 Deborah Drive, Somerset

New Jersey 00873

USA

Telephone: (+1 732) 794 0475 

 

 

PAYMENT RECORDS 

 

FINANCIAL STRENGTH     

Normal

EMPLOYEE RANGE    

ER7

 

 

SPECIAL REMARKS 

 

COMMENTS    

The name which you provided: Raw Trade International FZE is misspelt. Please note that subject’s correct registered name is as per heading.

 

The address which you provided: Building No 4W, Block B, Office No G42 PO Box No 371303, Dubai Airport Free Zone, Dubai applies to subject’s registered office address. Please note that subject’s administrative office address is as per heading.  

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 68.26

UK Pound

1

INR 91.21

Euro

1

INR 79.88

UAE Dh

1

INR 18.36

 

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

VAR

 

 

Report Prepared by :

DNS

 

 

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.