MIRA INFORM
REPORT
|
Report Date : |
12.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
GLOBAL ENGINEERING SOLUTIONS FZCO |
|
|
|
|
Registered Office : |
LOB 16, Office
No. 112, 8th Roundabout, Jebel Ali Free Zone, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
January 2004 |
|
|
|
|
Legal Form : |
Free Zone Company |
|
|
|
|
Line of Business : |
Distributors of engineering products for the oil and gas industry |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
US$ 80,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment
Behaviour : |
No Complaints |
|
|
|
|
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
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
|
|
a2 |
a2 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
SUMMARY
Company Name : GLOBAL ENGINEERING SOLUTIONS FZCO
Country of Origin :
Legal Form : Free Zone Company - FZCO
Registration Date : January 2004
Trade Licence Number : 4574
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Total Workforce : 20
Activities : Distributors of engineering products for the oil and gas industry
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 80,000
COMPANY
NAME
GLOBAL ENGINEERING SOLUTIONS FZCO
Company
ADDRESS
Registered & Physical
Address
Location : LOB 16, Office No. 112, 8th
Roundabout
Area : Jebel Ali Free Zone
PO Box : 18576
Town :
Country : United Arab Emirates
Telephone : (971-4) 8873414 / 8873490 / 8835633
Facsimile : (971-4) 8873415
Email : gages@emirates.net.ae / gaurav.anand@blissanand.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 Area of Dubai.
KEY
PRINCIPALS
Name Nationality Position
·
Gaurav
Anand Indian Managing
Director
·
Javid
Ali Abbassi - Commercial
Manager
·
K
Deepthy - Financial
Controller
·
Fazal
Shareef - Administration
Manager
LEGAL
FORM & OWNERS
Date of Establishment : January 2004
Legal Form :
Free Zone Company - FZCO
Trade Licence No. : 4574
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Name of Shareholder (s) Percentage
·
Gaurav
Anand 100%
AFFILIATED
COMPANIES
·
Badotherm
Middle
LOB 16, Office No. 112
Jebel Ali Free Zone
PO Box: 18576
Tel: (971-4) 8873414 / 8335633
Fax: (971-4) 8873415
·
Bliss
Anand Private Limited
Production Unit-1
92B & 93B, Sector 5, IMT Manesar
Gurgaon, Haryana
Tel: (91-124) 4366000
Fax: (91-124) 2290884
OPERATIONS
Activities: Engaged in the import and distribution of
engineering products for the oil and gas industry.
Import
Countries: Europe and the
Operating Trend: Steady
Subject has a
workforce of 20 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 7,660,000 UAE Dh 7,950,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
PO Box: 1080
Tel: (971-4) 2953000
Fax: (971-4) 2954111
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.22 |
|
|
1 |
Rs.72.26 |
|
Euro |
1 |
Rs.63.90 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
|
<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.