MIRA INFORM REPORT

 

 

Report No. :

511015

Report Date :

29.05.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

NEOMEDIC HEALTHEASE LLC

 

 

Registered Office :

Property Owned by Malik Abdul Aziz Hamad Al Shirawi, Office 814, Bur Dubai, Dubai 

 

 

Country :

United Arab Emirates

 

 

Date of Incorporation :

12.04.2012

 

 

Com. Reg. No.:

668829

 

 

Legal Form :

Limited Liability Company 

 

 

Line of Business :

Retail sale of medical and orthopaedic goods in specialised stores

 

 

No. of Employees :

4 (administrative staff) 

 

 

RATING & COMMENTS

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

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

 

SUMMARY

           

COMPANY NAME

NEOMEDIC HEALTHEASE LLC 

 

ADDRESS

Building

Area

City

PO Box

Property Owned by Malik Abdul Aziz Hamad Al Shirawi, Office 814 

Bur Dubai

Dubai

N/A

PHONE  

Verified Phones: (+27 31) 533 9680 (South Africa Office) / (+27 31) 569 6679 

EMAIL/WEBSITE

Email: ali.moledina@usa.net / shameera@neomedic.net / Website: www.neomedic.net

ACTIVITY

NACE 4774 - Retail sale of medical and orthopaedic goods in specialised stores; 

PRINCIPAL 

Ali Moledina   

Workforce 

Managing Director 

4 (administrative staff) 

LEGAL INFO 

 

Date Of Est.

Reg. No.

Legal Form

Status

12/04/2012

668829

LLC

Active

CAPITAL

CURRENCY

AMOUNT

AED 

300,000 

             

 

IDENTIFICATION

 

CO. NAME

NEOMEDIC HEALTHEASE LLC

ALSO KNOWN NAME (S)

NEOMEDIC HEALTHEASE / NEOMEDIC

BUILDING

Property Owned by Malik Abdul Aziz Hamad Al Shirawi, Office 814  

AREA 

Bur Dubai

CITY

Dubai

COUNTRY

United Arab Emirates

TELEPHONE

(+27 31) 533 9680 (South Africa Office) / (+971 50) 677 2744 (continuously unattended) / (971 50) 453 1701 (Mr. Muntazar)  

FAX

(+27 31) 569 6679

VERIFIED EMAIL

ali.moledina@usa.net / shameera@neomedic.net

WEBSITE

www.neomedic.net

REGISTERED ADDRESS

Property Owned by Malik Abdul Aziz Hamad Al Shirawi, Office 814, Bur Dubai, Dubai 

 

 

 

 

SENIOR PERSONNEL

 

MANAGEMENT

NAME

POSITION

Ali Moledina

Managing Director 

Shameera Allie

 

Mr. Muntazar

Operations Manager

 

Company Representative

WORKFORCE

NO. OF EMPLOYEES

PERIOD

4 (administrative staff) 

05.2018

 

 

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

12/04/2012

REGISTRATION NO.       

C.R. NUMBER

ISSUED BY  

Trade License No.: 668829 (expiry date: 11/04/2019)

Dubai Department of Economic Development

OTHER REGISTRATION NO.     

Federal Reservation No.: 10880768

AUTHORISED CAPITAL     

AMOUNT

CURRENCY

300,000

AED

PAID-UP CAPITAL  

AMOUNT

CURRENCY 

300,000

AED

BUSINESS HISTORY

The Company was incorporated in United Arab Emirates on 12 April 2012. 

LEGAL FORM     

Limited Liability Company 

STATUS

Active

SHAREHOLDERS  

NAME  

PERCENTAGE

1. Ali Moledina            }

                           }

2. Sajeda Moledina         }

 

3. Undisclosed local Emirati

   sponsor *

 

The exact shareholding structure was not disclosed.

 

* The local sponsor, according to UAE laws must hold a minimum of 51% of the capital, however, in practice and unofficially the sponsor gets a fixed annual percentage of the profit and a sponsorship fee without any investment in the company.

 

49.00%

 

 

51.00%   

 

 

 

OPERATION 

 

BANKERS   

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

ACTIVITY CODE (NACE)    

4774 - Retail sale of medical and orthopaedic goods in specialised stores;

LINE OF BUSINESS    

Trading as importers, distributors and exporters of medical supplies.

 

Subject’s range of products includes:

 

- Healthease syringes;

- Hypodermic needles;

- Plasterman range;

- Cotton wool;

- Diagnostics;

- Air management;

- Patient monitoring supplies.

IMPORT FROM 

Europe, African and South East Asian countries.

EXPORT TO 

GCC and African countries. 

FACILITIES

Registered office premises located at the heading address. 

RELATED COMPANIES

Associates

 

1. Neomedic (Pty) Ltd

   90 Corobrik Road

   Unit 5, Bella Vista Estate

   Riverhorse Valley East, 4017

   Tel: (+27 31) 533 9680

   Fax: (+27 31) 569 6679

   Email: sales@neomedic.net 

 

2. NEOMEDIC LLC

   Dubai

   Trade License No.: 550281

   Status: Expired

   Date of Expiration: 25/10/2017

 

 

 

 

SPECIAL REMARKS

 

INTERVIEWED   

Mr. Muntazar (Company Representative).  Subject's senior officials (Managing Director and Operations Manager) are currently away on a prolonged business trip, in their absence staff is not authorized to divulge information. Subject’s senior officials are expected to be back from business trip on Thursday May, 31 2018.    

COMMENTS    

The address which you provided: JADAF SHIP DOCKING YARD, WH-DY-150, ALJADDAF, DUBAI, UAE

Dubai is could not be verified.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 67.44

UK Pound

1

INR 89.89

Euro

1

INR 79.00

UAE DH

1

INR 18.44

 

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

NIY

 

 

Report Prepared by :

TRU

                                                


 

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.