MIRA INFORM
REPORT
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Report Date : |
25.02.2011 |
IDENTIFICATION DETAILS
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Name : |
ME GLOBAL INTERNATIONAL FZE |
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Registered Office : |
Building
No. 5WB, |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
08.07.2004 |
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Legal Form : |
Free Zone
Establishment |
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Line of Business : |
Manufacturers of
petrochemicals and related products |
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$ 700,000 |
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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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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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 : ME GLOBAL INTERNATIONAL FZE
Country of Origin :
Legal Form :
Free Zone Establishment - FZE
Registration Date : 8th
July 2004
Trade Licence
Number : 1085
Issued Capital : UAE Dh
1,000,000
Paid up Capital : UAE Dh
1,000,000
Total Workforce : 23
Activities :
Manufacturers of petrochemicals and related products.
Financial Condition : Good
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit
Limit : US$ 700,000
Person Interviewed : Promod Lakshman, Administration Manager
COMPANY NAME
ME GLOBAL INTERNATIONAL FZE
company ADDRESS
Registered & Physical Address
Building : Building No. 5WB
Area :
PO Box : 293615
Town :
Country :
Telephone : (971-4) 2923999 / 2923913
Facsimile : (971-4) 2923911
Email :whbaur@meglobal.biz / hfroth@meglobal.biz / info@meglobal.biz
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Dubai
Airport Free Zone Area.
KEY PRINCIPALS
Name Position
·
Henry
Roth Managing
Director
·
Ramesh Rama Chandran Chief
Executive Officer
·
Varner Baur Chief
Financial Officer
·
Werner
Baur General Manager
·
Ben
Poon Commercial
Manager
·
Promod Lakshman Administration
Manager
LEGAL FORM & OWNERS
Date of Establishment : 8th
July 2004
Legal Form :
Free Zone Establishment -
FZE
Trade Licence No. : 1085
(Expires 08/07/2011)
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Name of Shareholder (s) Percentage
·
DOW Chemicals 50%
·
Petrochemical Industries Co (PIC) 50%
OPERATIONS
Activities: Engaged in the manufacture of
petrochemicals and related products.
Import
Countries:
Operating Trend: Steady
Subject has a
workforce of 23 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
58,700,000 UAE Dh
65,000,000
Local sources
consider subject’s financial condition to be Good.
The above figures
were provided by Mr Promod Lakshman, Administration
Manager
BANKERS
·
Commercial
Bank of
Deira
PO Box: 1709
Tel: (971-4) 2227121 / 2253222
Fax: (971-4) 2220943 / 2254565
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.45.37 |
|
|
1 |
Rs.73.54 |
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Euro |
1 |
Rs.62.39 |
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.