MIRA
INFORM REPORT
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Report Date : |
30.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
TOTAL MIDDLE EAST FZE |
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Registered Office : |
Sheikh Zayed
Road, Jebel Ali Free Zone, PO Box 17575, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
22.05.1999 |
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Legal Form : |
Free Zone Establishment |
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Line of Business : |
Distributors of Refined Oil Products, Lubricants and
Greases, Tar and Asphalt and Oilfield Chemicals. |
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$ 250,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : TOTAL MIDDLE EAST FZE
Also Known As : TOTAL LUBRICANTS INTERNATIONAL ME FZE
Country of Origin : Dubai, United Arab Emirates
Legal Form : Free Zone Establishment
Registration Date : 22nd May 1999
Trade Licence Number : 2165
Chamber Membership Number : 54334
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Total Workforce : 100
Activities : Distributors of refined oil products, lubricants and greases, tar and asphalt and oilfield chemicals.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 250,000
COMPANY NAME
TOTAL MIDDLE EAST
FZE
ALSO KNOWN AS: TOTAL LUBRICANTS INTERNATIONAL ME FZE
ADDRESS
Registered & Physical Address
Street : Sheikh Zayed Road
Area : Jebel Ali Free Zone
PO Box : 17575
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 8811550
Facsimile : (971-4) 8811533
Email : tlimefze@emirates.net.ae
Premises
Subject operates
from a medium sized suite of offices and a warehouse that are rented and
located in the Jebel Ali Free Zone Area of Dubai.
LEGAL FORM & OWNERS
Date of Establishment : 22nd
May 1999
Legal Form :
Free Zone Establishment
Trade Licence No. : 2165
(Expires 05/02/2009)
Chamber Member No. : 54334
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Name of Shareholder (s) Percentage
·
Total
Lubricants 100%
France
OPERATIONS
Activities: Engaged in the import and distribution of
refined oil products, lubricants and greases, tar and asphalt and oilfield
chemicals.
Import
Countries: France
Subject has a
workforce of 100 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
·
National Bank
of Dubai
Baniyas Street
PO Box : 777
Dubai
Tel : (971-4) 2222241
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in 1999,
subject is involved in the import and distribution of refined oil products,
lubricants and greases, tar and asphalt and oilfield chemicals.
Local sources
report that payment obligations are met in a generally timely manner and the
operating history is clear. As such the company is deemed a fair trade risk and
the above credit figure is considered to be within subject’s financial means.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.79 |
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UK Pound |
1 |
Rs.80.05 |
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Euro |
1 |
Rs.64.56 |
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%)