MIRA
INFORM REPORT
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Report Date : |
22.10.2008 |
IDENTIFICATION DETAILS
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Name : |
PAPERS WORLDWIDE |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
09.05. 2001 |
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Legal Form : |
Branch of a Foreign Registered Corporation |
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Line of Business : |
Import and Distribution of Paper and Paper Products |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
US$ 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : PAPERS WORLDWIDE
Country of Origin :
Legal Form : Branch of a Foreign Registered Corporation
Registration Date : 9th May 2001
Trade Licence Number : 2940
Chamber Membership Number : 63911
Issued Capital : UAE Dh 183,500
Paid up Capital : UAE Dh 183,500
Total Workforce : 15
Activities : Import and distribution of paper and paper products
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
PAPERS WORLDWIDE
ADDRESS
Registered & Physical Address
Street :
Area : Jebel Ali Free Zone
PO Box : 17993
Town :
Country :
Telephone : (971-4) 8871454
Facsimile : (971-4) 8871392
Email : info@paperworldwide.com
Premises
Subject operates from
a medium sized suite of offices and a warehouse that are rented and located in
the Jebel Ali Free Zone.
KEY PRINCIPALS
Name Position
·
Vikram Judge Managing
Director
LEGAL FORM & OWNERS
Date of Establishment : 9th
May 2001
Legal Form :
Subject is the United Arab
Emirates registered branch of Papers Worldwide Limited, a
Limited Liability Company incorporated in
the
Papers Worldwide Limited in the
Registered Corporation.
Trade Licence No. : 2940
(Expires 08/05/2009)
Chamber Member No. : 63911
Issued Capital : UAE Dh 183,500
Paid up Capital : UAE Dh 183,500
AFFILIATED COMPANIES
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Papers
Worldwide (
Nungambakkam, Chennai
Tamil Nadu
Tel: (91-44) 28331444
Fax: (91-44) 28331447
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Papers
Worldwide Afro Asia Ltd
373,
Challenge-Mushin,
Tel: (234-1) 2158227
Fax: (234-1) 4528113
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Papers
Worldwide Sharjah
Sharjah
Tel: (971-6) 5578783
Fax: (971-6) 5578784
OPERATIONS
Activities: Engaged in the import and distribution of
paper and paper products.
Import
Countries:
Operating Trend: Steady
Subject has a
workforce of 15 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency:
Year
Ending 31/12/06: Year
Ending 31/12/07:
Total Sales UAE Dh 9,350,000 UAE Dh 12,900,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
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Emirates
Bank International Ltd
Jebel Ali Free Zone Branch
PO Box: 2923
Tel: (971-4) 8815551
Fax: (971-4) 8815545
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.48.83 |
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UK Pound |
1 |
Rs.85.12 |
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Euro |
1 |
Rs.65.86 |
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%)