MIRA
INFORM REPORT
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Report Date : |
21.07.2011 |
IDENTIFICATION DETAILS
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Name : |
MACRO CHEMICALS CO LLC |
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Registered Office : |
City Tower No. 1, Suite No. 305, Sheikh Zayed Road, Al Wasl, 65734
Dubai |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
17.08.1998 |
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Com. Reg. No.: |
51595, |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Import and Distribution of Basic Industrial and Construction
Chemicals, Industrial Solvents, Laboratory Chemicals and Protective
Materials. |
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$ 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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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 – March 31st, 2010
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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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 :
MACRO CHEMICALS CO LLC
Country of Origin :
Legal Form :
Limited Liability Company - LLC
Registration Date :
17th August 1998
Commercial Registration Number :
51595,
Trade Licence Number :
507225
Chamber Membership Number :
51126
Issued Capital :
UAE Dh 300,000
Paid up Capital :
UAE Dh 300,000
Total Workforce :
8
Activities :
Import and distribution of chemicals
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit :
US$ 150,000
COMPANY NAME
MACRO CHEMICALS CO LLC
ADDRESS
Registered & Physical Address
Building : City Tower
No. 1, Suite No. 305
Street :
Area : Al Wasl
PO Box : 65734
Town :
Country :
Telephone : (971-4) 3318813
Facsimile : (971-4)
3319913
Email : macroinc@emirates.net.ae
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
· Abdul Rahman
Abdullah Mohamed Ali Ahli Emirati Managing
Director
· Mumtaz Khan Malik Pakistani General Manager
LEGAL FORM & OWNERS
Date of
Establishment : 17th
August 1998
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 51595,
Trade Licence No. : 507225 (Expires 16/08/2011)
Chamber Member No. : 51126
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
· Abdul Rahman
Abdullah Mohamed Ali Ahli 51%
· Macro
International Services Co 49%
OPERATIONS
Activities: Engaged in the import and distribution of basic industrial and
construction chemicals, industrial solvents, laboratory chemicals and
protective materials.
Import Countries:
Operating Trend: Steady
Subject has a workforce of 8 employees.
FINANCIAL DATA
Financial highlights provided by local sources are given below:
Currency:
Year
Ending 31/12/09: Year
Ending 31/12/10:
Total Revenue UAE
Dh 10,900,000 UAE Dh
11,335,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
BANKERS
·
Commercial Bank of
PO Box: 2668
Tel: (971-4)
3523355
Fax: (971-4)
3527655 / 2524796
·
Noor Islamic Bank
PO Box : 8822
Tel: (971-4)
4268419
Fax: (971-4)
3456789
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
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.44.46 |
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|
1 |
Rs.71.67 |
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Euro |
1 |
Rs.62.94 |
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 |
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NB |
New Business |
-- |
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.