MIRA
INFORM REPORT
|
Report Date : |
27.10.2007 |
IDENTIFICATION DETAILS
|
Name : |
PETROCHEMICAL
COMMERCIAL CO FZE |
|
|
|
|
Registered Office : |
Jebel Ali Free
Zone, |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
1997 |
|
|
|
|
Legal Form : |
Free Zone Establishment – FZE |
|
|
|
|
Line of Business : |
Engaged in the
export and marketing of petrochemical products as well as supplying chemicals
and raw materials required by petrochemical complexes. |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
US$ 500,000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name : PETROCHEMICAL COMMERCIAL CO FZE
Doing Business As : PCC FZE
Country of Origin :
Legal Form : Free Zone Establishment - FZE
Registration Date : 1997
Membership Number : 56137
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Total Workforce : 9
Line of Business : Export and marketing of petrochemical products.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
PETROCHEMICAL
COMMERCIAL CO FZE
DOING BUSINESS AS
PCC FZE
ADDRESS
Registered & Physical Address
Location : Jebel Ali Free Zone
PO Box : 17473
Town :
Country :
Telephone : (971-4) 8813191
Facsimile : (971-4) 8813614
Email : info@pccfze.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Jebel Ali Free
Zone.
Branch Office (s)
Location Description
·
Al Attar
Business Tower, Office No. 1501 – B Rented
office premises
Tel: (971-4) 3311623
Fax: (971-4) 3311697
KEY PRINCIPALS
·
Saeed
Mansouri Managing
Director
·
Thayyib
Ahmed Finance
Manager
·
M.
Rahimi Sales
& Marketing Manager
·
Mrs
Setareh Haghighi Administration
Officer
LEGAL FORM &
OWNERS
Date of Establishment : 1997
Legal Form :
Mouassasat Al Mintaka Al
Horra (Free Zone Establishment - FZE)
Membership No. : 56137
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Name of Shareholder
(s) Percentage
·
Iran
Petrochemical Commercial Co (IPCC) 100%
PO Box: 19395/4619
Tel: (98-21) 8839506
Fax: (98-21) 8827312
Email: pcc@iran.com
Note to the Legal Form
A Free Zone Establishment - or FZE - is an establishment formed and registered within the Free Zones and regulated solely by the Free Zone authorities.
Such establishments must have a capital of at least UAE Dh 1 million and
liability will be limited to the amount of paid-up capital. A FZE need only
have a single shareholder and is an independent legal entity.
This legal form allows for 100 percent foreign ownership within the United Arab Emirates and allows foreign companies to maintain a presence in the UAE (within the free zone), without the usual requirement of a local sponsor that would hold majority ownership, i.e. minimum of 51 % equity in the capital.
AFFILIATED
COMPANIES
·
PCC
Tel: (44-207) 7991717
Fax: (44-207) 2330024
·
Intra-Chem Trading ICT (GmbH)
22085
Tel:
(49-40) 2272230
Fax:
(49-40) 223972
·
PCC
Tel: (65)
2235560 / 2235179
Fax: (65)
2235907
·
PCC
Chao yang District
Tel:
(86-10) 65995439
Fax:
(86-10) 65995438
·
PCC
99-A,
Cuffe,
Parade Colaba
Mumbai 400005
Tel: (91-22)
2164434 / 2160095 / 2187842
Fax:
(91-22) 2186615
·
PCC
Tel: (7-95) 9334317 / 9358637
LINE OF BUSINESS
Operations: Engaged in the export and marketing of
petrochemical products as well as supplying chemicals and raw materials
required by petrochemical complexes. The range of chemicals includes: Argon,
Butane, Caustic Soda, Methanol, Propane,
Subject is ISO 9001 accredited.
Import
Countries:
Export
Countries:
Subject has a
workforce of 9 employees.
FINANCIAL
HIGHLIGHTS
Companies
registered in
BANKERS
·
The
Standard Chartered Bank
Jebel Ali Free Zone
PO Box : 999
Tel : (971-4) 8856600
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in
1997, Petrochemical Commercial Co FZE, specialises in the export and marketing
of petrochemical products and related chemicals. The company is a subsidiary of
Iran Petrochemical Commercial Co (IPCC) which operates offices throughout the
world and is a leading concern in the sector.
During the course
of this investigation nothing detrimental was uncovered regarding subject’s
operating history or the manner in which payments are fulfilled. As such the
company is considered to be a fair trade risk.
Maximum suggested
credit figure: US$ 500,000
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)