MIRA
INFORM REPORT
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Report Date : |
23.05.2007 |
IDENTIFICATION DETAILS
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Name : |
PWC GLOBAL
LOGISTICS LTD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
16th April 2006 |
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Legal Form : |
Branch of a Foreign Registered Corporation |
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Line of Business : |
Engaged in the
manufacture and assembly of computers. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
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Maximum Credit Limit : |
US$ 50,000 |
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Status : |
Foreign Registered Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : PWC GLOBAL LOGISTICS LTD
Country of Origin :
Legal Form : Branch of a Foreign Registered Corporation
Registration Date : 16th April 2006
Trade Licence Number : 6824
Membership Number : 106584
Total Workforce : 30
Line of Business : Manufacturers and assemblers of computers.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
PWC GLOBAL
LOGISTICS LTD
ADDRESS
Registered & Physical Address
Street :
Area : Jebel Ali Free Zone
PO Box : 17713
Town :
Country :
Telephone : (971-4) 8068600 / 8818121
Facsimile : (971-4) 8814345
Email : ri.zarouni@pwclogistics.com
Premises
Subject operates
from a medium sized suite of offices and a factory that are rented and located
in the Jebel Ali Free Zone Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
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John
Michael Henry Lee British General Manager
LEGAL FORM &
OWNERS
Date of Establishment : 16th
April 2006
Legal Form :
Subject is the United Arab Emirates
registered branch of PWC Global Logistics Ltd, a
Limited Liability Company
incorporated in the
PWC Global Logistics Ltd in the
Branch of a Foreign
Registered Corporation.
A Branch of a Foreign
Registered Corporation is not a legal entity in its own right.
Responsibility for payments lays
in the hands of the company where it is originally
registered.
Under these circumstances, we strongly
advise that any international trade credit should
only be written under the name
of the main company where the subject holds its
registered office, in this case
the
Trade Licence No. : 6824
(Expires 15th April 2008)
Membership No. : 106584
LINE OF BUSINESS
Operations : Engaged in the manufacture and assembly of
computers.
Import Countries
: Europe and the
Subject has a
workforce of 30 employees.
FINANCIAL HIGHLIGHTS
Subject is a newly formed
business and as a result financial information is not currently available.
BANKERS
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Standard
Chartered Bank
PO Box : 999
Tel : (971-4) 2520455
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Investigations
undertaken in Dubai did not reveal any sign of payment defaults or delays
during initial trading stages, and subject is believed to meet its payment
obligations in a timely manner, nevertheless, and in view of the company’s
infancy and the lack of a more consistent payment and financial record, a
measure of caution is advisable and a close monitoring of subject’s business
development is recommended.
Maximum suggested
credit figure: US$ 50,000
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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 and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)