MIRA
INFORM REPORT
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Report Date : |
09.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
ENRC MARKETING AG |
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Registered Office : |
LOB 17, Office
313, Jebel Ali Free Zone, PO Box 17674, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
2000 |
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Legal Form : |
Branch of a Foreign Registered Corporation |
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Line of Business : |
Providers of Marketing Services and Suppliers of Raw
Materials |
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$ 75,000 |
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Status : |
Branch of Foreign Registered Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : ENRC MARKETING AG
Country of Origin : Switzerland
Legal Form : Branch of a Foreign Registered Corporation
Registration Date : 2000
Total Workforce : 10
Activities : Providers of marketing services and suppliers of raw materials
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 75,000
COMPANY NAME
ENRC MARKETING AG
ADDRESS
Registered & Physical Address
Location : LOB 17, Office 313
Area : Jebel Ali Free Zone
PO Box : 17674
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 8813503
Facsimile : (971-4) 8811334
Email : ebaginskaya@enrc.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Jebel Ali Free
Zone Area of Dubai.
KEY PRINCIPALS
Name Position
·
Alexey
Podkolain General
Manager
·
Akmal
Alanourov Marketing
Manager
·
Olga
Shalaeva Administration
Manager
·
Natalia
Vasina Finance
Manager
LEGAL FORM & OWNERS
Date of Establishment : 2000
Legal Form :
Subject is the United Arab
Emirates registered branch of ENRC Marketing AG, a Limited
Liability Company incorporated in
Switzerland.
ENRC Marketing AG in the United
Arab Emirates, operates as a Branch of a Foreign
Registered Corporation
with its registered office located at the following address :
ENRC Marketing AG
Balz Zimmermann Strasse 7
CH-8302
Kloten
Switzerland
Tel : (41-43) 4994100
Fax : (41-43) 4994199
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 Switzerland.
OPERATIONS
Activities: Engaged as providers of marketing services
and suppliers of raw materials, specialising in metal, chrome, copper and iron.
Import
Countries: Switzerland,
India and China
Subject has a
workforce of 10 employees.
FINANCIAL DATA
Companies registered
in Dubai, United Arab Emirates are not legally required to make their accounts
public and no financial information was released by the company or submitted by
outside sources.
BANKERS
·
Commercial
Bank of Dubai
Mankhool Street
PO Box : 2668
Dubai
Tel : (971-4) 3523355
Fax : (971-4) 3527655 / 2524796
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
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.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.16 |
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UK Pound |
1 |
Rs.85.51 |
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Euro |
1 |
Rs.67.95 |
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%)