MIRA INFORM
REPORT
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Report Date : |
21.04.2011 |
IDENTIFICATION DETAILS
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Name : |
TRADECHEM INTERNATIONAL FZE |
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Registered Office : |
LOB No. 3, Office
No. AG11, Ground Floor, Sheikh Zayed Street, 5th Roundabout, Jebel
Ali Free Zone, P O Box 18587, Dubai |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
25.02.2004 |
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s |
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Legal Form : |
Free Zone Establishment |
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Line of Business : |
Distributors of 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$ 1,000,000 |
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Status : |
Satisfactory |
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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
|
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 : TRADECHEM INTERNATIONAL FZE
Country of Origin :
Legal Form : Free Zone Establishment - FZE
Registration Date : 25th February 2004
Trade Licence Number : 4524
Chamber Membership Number : 83151
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Total Workforce : 4
Activities : Distributors of chemicals
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 1,000,000
Person Interviewed : Jayant Motiwala, Finance Manager
COMPANY
NAME
TRADECHEM
INTERNATIONAL FZE
company
address
Registered & Physical
Address
Building : LOB No. 3, Office No. AG11, Ground
Floor
Street :
Area : Jebel Ali Free Zone
PO Box : 18587
Town :
Country :
Telephone : (971-4) 8873240 / 8673240 / 8873151
Facsimile : (971-4) 8873241 / 8673241
Email : admin@tradechem.ae
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Jebel Ali Free Zone.
KEY
PRINCIPALS
Name Position
·
Vishwanathan Ayer Managing
Director
·
Rajesh Kapouriya Director
·
Jayant Motiwala Finance
Manager
·
Seema Khan Administrative
Secretary
LEGAL
FORM & OWNERS
Date of Establishment : 25th
February 2004
Legal Form :
Free Zone Establishment -
FZE
Trade Licence No. : 4524
(Expires 25/02/2011)
Chamber Member No. : 83151
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Name of Shareholder (s)
·
Vishwanathan Ayer
·
Rajesh Kapouriya
OPERATIONS
Activities: Engaged in the import and distribution of
bulk chemicals for the soap industry and petrochemicals.
Import
Countries: Europe,
International
Suppliers:
·
Shell
· Huntsman
· Total
Operating Trend: Steady
Subject has a
workforce of 4 employees.
FINANCIAL
DATA
Financial
highlights provided by local sources are given below:
Currency:
Year
Ending 31/03/09: Year Ending
31/03/10:
Total Sales US$ 74,500,000 US$ 80,000,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Jayant Motiwala, Finance Manager
BANKERS
·
National
Bank of
PO Box: 777
Tel: (971-4) 2222241
·
HSBC
Bank
Deira Souk Branch
PO Box: 66
Tel: (971-4) 2535000
·
Habib
Bank AG
Trade Service Centre
Murshid Bazaar
PO Box: 888
Tel: (971-4) 2221281
Fax: (971-4) 2284631
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.44.38 |
|
|
1 |
Rs.72.56 |
|
Euro |
1 |
Rs.63.92 |
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 |
|
<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.