MIRA INFORM
REPORT
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Report Date : |
06.04.2011 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Plot No. MO0743,
Sheikh Zayed Road, Between 12th & 13th Roundabout, Jebel Ali Free Zone, P
O Box 61468, Dubai |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
10.08.2003 |
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Legal Form : |
Free Zone Company |
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Line of Business : |
Import and distribution of ferrous and non-ferrous metals and alloys, steel tubes, paper products and pulp, synthetic rubber, and industrial 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$ 4,000,000 |
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Status : |
Good |
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Payment
Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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a2 |
a2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
SUMMARY
Company Name : TRIGON GULF FZCO
Country of Origin :
Legal Form : Free Zone Company - FZCO
Registration Date : 10th August 2003
Trade Licence Number : 1511
Chamber Membership Number : 79102
Issued Capital : UAE Dh 2,000,000
Paid up Capital : UAE Dh 2,000,000
Total Workforce : 35
Activities : Import and distribution of ferrous and non-ferrous metals and alloys,
steel tubes, paper products and pulp, synthetic rubber, and industrial chemicals
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 4,000,000
Person Interviewed : Uday Apan, Finance Manager
COMPANY NAME
TRIGON GULF FZCO
company ADDRESS
Registered & Physical Address
Building : Plot No. MO0743
Street :
Area : Jebel Ali Free Zone
PO Box : 61468
Town :
Country :
Telephone : (971-4) 8832010
Facsimile : (971-4) 8831788
Email : trigon@emirates.net.ae / info@trigon.ae / uday@trigon.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.
KEY PRINCIPALS
Name Nationality Position
·
Manoj
Shivnani Saduram Indian Managing
Director
·
Shrikan
Rajwadi - Assistant General
Manager
·
Uday
Apan - Finance
Manager
·
Pulin Parikh - Manager
– Steel Products
·
Yogesh Dixit - Manager
– Chemical & Rubber Products
LEGAL FORM & OWNERS
Date of Establishment : 10th
August 2003
Legal Form :
Free Zone Company - FZCO
Trade Licence No. : 1511
(Expires 09/08/2011)
Chamber Member No. : 79102
Issued Capital : UAE Dh 2,000,000
Paid up Capital : UAE Dh 2,000,000
Name of Shareholder
(s) Percentage
·
Brigance
Enterprises Ltd 70%
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AFFILIATED COMPANIES
·
Trigon
Steel FZE
PO Box: 61468
Tel: (971-4) 8832010
Fax: (971-4) 8831788
Licence No. 111347
OPERATIONS
Activities: Engaged in the import and distribution of
ferrous and non-ferrous metals and alloys, steel tubes, paper
products and pulp, synthetic
rubber, and industrial chemicals.
Import
Countries: Europe and the
Operating Trend: Steady
Subject has a
workforce of 35 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency:
Year
Ending 31/12/09: Year
Ending 31/12/10:
Total Sales UAE Dh
916,000,000 UAE Dh
950,000,000
Local sources
consider subject’s financial condition to be Good.
The above financial
figures were confirmed by Mr Uday Apan, Finance Manager
BANKERS
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Standard
Chartered Bank
Jebel Ali Free Zone
PO Box: 16920
Tel: (971-4) 8856600
Acc No. 01-7036442-01
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in
2003, subject is involved in the import and distribution of ferrous and
non-ferrous metals, steel tubes, rubber, paper products and industrial
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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.45 |
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|
1 |
Rs.71.59 |
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Euro |
1 |
Rs.63.01 |
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 |
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 |
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%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.