MIRA INFORM
REPORT
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Report Date : |
28.07.2011 |
IDENTIFICATION DETAILS
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Name : |
UNIPLAS INTERNATIONAL EST |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
29.12.2003 |
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Com. Reg. No.: |
47283, Sharjah |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Import and distribution of plastics |
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 : |
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 – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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United Arab Emirates |
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 : UNIPLAS INTERNATIONAL EST
Country of Origin :
Legal Form : Sole Proprietorship
Registration Date : 29th December 2003
Commercial Registration Number : 47283, Sharjah
Trade Licence Number : 525295
Chamber Membership Number : 61441
Invested Capital : UAE Dh 500,000
Total Workforce : 20
Activities : Import and distribution of plastics
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
Person Interviewed : Aroop Batadarya, Commercial Manager
COMPANY NAME
UNIPLAS INTERNATIONAL
EST
company ADDRESS
Registered
& Physical Address
Street :
Area : Al
Majaz Area
PO Box :
60392
Town : Sharjah
Country :
Telephone : (971-6) 5730167
Facsimile : (971-6) 5730168
Email : info@uniplasinternational.com
Premises
Subject operates
from a medium sized suite of offices and a warehouse that are rented and
located in the Industrial Area of Sharjah.
KEY PRINCIPALS
Name Nationality Position
·
Nikhil Dhruva Bhai Indian Proprietor & General
Manager
·
Aroop Batadarya - Commercial
Manager
LEGAL FORM & OWNERS
Date of Establishment : 29th
December 2003
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 47283,
Sharjah
Trade Licence No. : 525295
Chamber Member No. : 61441
Invested Capital
: UAE Dh 500,000
Mr Nikhil Dhruva Bhai is the sole proprietor of the
business. Mr Nikhil Dhruva Bhai is an Indian national
who operates in Sharjah under the local sponsorship of Mr Faisal Khalifa Obaid
Al Rashid.
OPERATIONS
Activities: Engaged in the import and distribution of
plastics, including HDPE, LDPE, LLDPE, PP, PS, PVC, EPS,
GPPS, HIPS, ABS, SBR, NBR, EVA, TDI, DOP, PA, PET, resin bottle grade
and extrusion and bag making machinery.
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
11,200,000 UAE Dh
12,450,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures were confirmed by Aroop Batadarya, Commercial Manager
BANKERS
·
Standard
Chartered Bank
PO Box: 5
Sharjah
Tel: (971-6) 5357788
Fax: (971-6) 5543604
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
Date of
transaction October
2007
Credit amount 150,000
Amount overdue 0
Payment terms 60 days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency
GENERAL COMMENTS
Established in
2003, subject is owned and managed by Mr Nikhil
Dhruva Bhai who is an Indian national operating
in Sharjah under the local sponsorship of Mr Faisal Khalifa Obaid Al Rashid.
Local sources
report that the subject’s operating history is clear with payment obligations
met in a generally timely manner. The financial position is satisfactory and
the business is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.95 |
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1 |
Rs.72.12 |
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Euro |
1 |
Rs.63.67 |
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 |
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.