MIRA INFORM REPORT
|
Report Date : |
20.12.2011 |
IDENTIFICATION DETAILS
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Name : |
TUFTAPE FZCO |
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Registered Office : |
Plot No. MO0547
& 48, Jebel Ali Free Zone, P O Box 17705 |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
15.01.1998 |
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Legal Form : |
Free Zone Company |
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Line of Business : |
Manufacturers of adhesive tapes and packaging materials |
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No. of Employees
: |
60 persons |
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 |
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Maximum Credit Limit : |
US$ 300,000 |
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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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
United Arab Emirates |
a2 |
a2 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
|
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 : TUFTAPE FZCO
Also Known As : TUFTAPE LTD
Country of Origin : Dubai, United Arab Emirates
Legal Form : Free Zone Company - FZCO
Registration Date : 15th January 1998
Trade Licence Number : 1879
Chamber Membership Number : 56143
Issued Capital : UAE Dh 7,360
Paid up Capital : UAE Dh 7,360
Total Workforce : 60
Activities : Manufacturers of adhesive tapes and packaging materials.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 300,000
COMPANY NAME
TUFTAPE FZCO
ALSO KNOWN AS
TUFTAPE LTD
company ADDRESS
Registered &
Physical Address
Location : Plot No. MO0547 & 48, Jebel
Ali Free Zone
PO Box : 17705
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 8812131
Facsimile : (971-4) 8812132
Email : info@tuftapeltd.com / tuftape@emirates.net.ae
Premises
Subject operates
from a medium sized suite of offices and a factory that are rented and located
in the Jebel Ali Free Zone Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
·
Vasant
Mohanlal Panjabi Indian Managing
Director
LEGAL FORM & OWNERS
Date of Establishment : 15th
January 1998
Legal Form :
Free Zone Company - FZCO
Trade Licence No. : 1879 (Expires
14/01/2012)
Chamber Member No. : 56143
Issued Capital : UAE Dh 7,360
Paid up Capital : UAE Dh 7,360
Name of Shareholder
(s) Percentage
·
Tuftape
Ltd 100%
British Virgin Islands
OPERATIONS
Activities: Engaged in the manufacture of adhesive
tapes and packaging materials.
Export
Countries: Europe, Africa
and GCC countries.
Subject has a
workforce of 60 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
·
Emirates
Bank International Ltd
Deira
PO Box: 2923
Dubai
Tel: (971-4) 3160316
Fax: (971-4) 2264302
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.52.96 |
|
UK Pound |
1 |
Rs.82.04 |
|
Euro |
1 |
Rs.68.91 |
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 |
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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 |
|
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 |
|
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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.