MIRA
INFORM REPORT
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Report Date : |
18.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
HONEYWELL AUTOMATION INDIA LIMITED |
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Registered Office : |
Sheikh Zayed
Road, Jebel Ali Free Zone, PO Box 17713 & 262263, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
26.08.2007 |
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Legal Form : |
Branch of a Foreign Registered
Corporation |
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Line of Business : |
Provision of Automation and
Control Solutions |
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. |
Small |
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Maximum Credit Limit : |
US$ 50,000 |
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Status : |
Branch of Foreign Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : HONEYWELL AUTOMATION INDIA LIMITED
Country of Origin : India
Legal Form : Branch of a Foreign
Registered Corporation
Registration Date : 26th August
2007
Trade Licence Number : 7839
Chamber Membership Number : 123114
Total Workforce :
30
Activities : Provision of
automation and control solutions
Financial Condition : Undetermined
Payments : Nothing detrimental
uncovered
Recommended Credit Limit : US$ 50,000
COMPANY NAME
HONEYWELL
AUTOMATION INDIA LIMITED
ADDRESS
Registered & Physical Address
Street : Sheikh Zayed Road
Area : Jebel Ali Free Zone
PO Box : 17713 & 262263
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 8068600
Facsimile : (971-4) 8814345
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Jebel Ali
Free Zone.
KEY PRINCIPALS
Name Position
·
Manik Goel Marketing
Manager
LEGAL FORM & OWNERS
Date of Establishment : 26th
August 2007
Legal Form :
Subject is the United Arab
Emirates registered branch of Honeywell Automation India
Limited, a
Limited Liability Company incorporated in India
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 India.
Trade Licence No. : 7839
Chamber Member No. : 123114
OPERATIONS
Activities: Engaged in the provision of automation and
control solutions.
Subject has a
workforce of 30 employees.
FINANCIAL DATA
Subject is a newly
formed business and as a result financial information is not currently
available.
BANKERS
·
Habib Bank Ltd
Trade Service Centre
Murshid Bazaar
PO Box : 888
Dubai
Tel : (971-4) 2221281
Fax : (971-4) 2284631
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
In view of subject’s
infancy, extensive payment and financial are not available, therefore dealings
are recommended to be on secured terms, and a close monitoring of subject’s
business development is advisable.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.23 |
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UK Pound |
1 |
Rs.80.89 |
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Euro |
1 |
Rs.63.80 |
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%)