MIRA
INFORM REPORT
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Report Date : |
26.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
PERTONAS MITCO LABUAN CO LTD |
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Registered Office : |
Level Island 16 Tower Pertonas Twin Tower Kumal Luumper, Centre 50088
Kuala Lumpur |
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Country : |
Malaysia |
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Date of Incorporation : |
2006 – 07 |
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Line of Business : |
Trading of non-oil petroleum products such as petrochemicals, fertilizers and nitrogenous chemicals, and olefins and polymers. It also acts as a trading house for general merchandise, and other non-oil commodities. |
RATING &
COMMENTS
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MIRA’s Rating : |
NR |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
name & address
PERTONAS MITCO LABUAN CO LTD
Level Island 16 Tower
Pertonas Twin Tower
Kumal Luumper, Centre 50088
Kuala Lumpur
Malaysia
Tel : (+60) 3 2051 3633
Fax : (+60) 3 2051 2936
(+60) 3 2051 2458
Email :
petronas-mitcojapan@petronas.com.my
date of incorporation
2006 – 07
business
Trading of non-oil petroleum products such as petrochemicals, fertilizers and nitrogenous chemicals, and olefins and polymers. It also acts as a trading house for general merchandise, and other non-oil commodities.
affiliates
Petlin Malaysia Sdn Bhd
PETRONAS Ammonia
Sdn Bhd (PASB)
PETRONAS Carigali
Sdn Bhd (PCSB)
PETRONAS Carigali
(Pakistan) Ltd
PETRONAS Carigali
Turkmenistan Sdn Bhd (PCTSB)
PETRONAS Dagangan
Bhd (PDB)
PETRONAS Energy
Philippines Inc
PETRONAS
Fertilizer (Kedah) Sdn Bhd (PFK)
PETRONAS Gas
Berhad (PGB)
PETRONAS Methanol
Labuan Sdn Bhd (PMLSB)
PETRONAS NGV Sdn
Bhd (PNGV)
PETRONAS Penapisan
(Melaka)Sdn Bhd (PPMSB)
PETRONAS Penapisan
(Terengganu) Sdn Bhd (PPTSB)
PETRONAS Tankers
Sdn Bhd (PTSB)
PETRONAS Unique
Petroleum Co. Ltd
Universiti
Teknologi PETRONAS (UTP)
Vinyl Chloride
Malaysia Sdn Bhd (VCMSB)
representative
|
First Name |
Shoaib |
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Last Name |
Amin |
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Designation |
COO |
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Company |
Shoaib Amin-A House of Amin Group Company |
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Address |
502-3, Hussain Trade Centre, Altaf Hussain Road, New Chali |
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City |
Karachi |
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State |
Sindh |
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Zip |
74000 |
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Company URL |
www.houseofamin.com |
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Job Function |
Other |
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Country |
Pakistan |
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Phone |
009221-2213255 & 6 |
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Fax |
009221-2211384 |
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Company Category |
Indentors |
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Primary Business |
Resins/Compounds |
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|
sasa786@hotmail.com |
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Additional Information |
Representatives of Petronas Mitco Labuan Co. |
comments
Mitco Labuan, the
trading arm of the Malaysian petrochemicals giant Petronas, is setting up a wholly
owned subsidiary to engage in trading and related activities in the country.
Mitco Labuan will be involved in activities including cash and carry wholesale
trading and export trading of products like chemicals, polymers and other
general merchandise. Mitco Labuan will also provide marketing services for
Petronas and other group companies.
The subject company is an offshore company, a company exempted to tax as Labuan is a tax heaven country. Subject is a company registered in Labuan under the Offshore Companies Act 1990 and not the normal Malaysian Companies Act. The record of such offshore companies registered in Labuan are not available / open to public search.
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. |
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%)