MIRA INFORM
REPORT
|
Report Date : |
23.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
NOV ASEP ELMAR MIDDLE EAST |
|
|
|
|
Registered Office : |
Oilfields Supply
Center, Plot No. B-17, Jebel Ali Free Zone, P O Box 18633, Dubai |
|
|
|
|
Country : |
United Arab Emirates |
|
|
|
|
Date of Incorporation : |
22.02.2001 |
|
|
|
|
Legal Form : |
Branch of a Foreign Registered Corporation |
|
|
|
|
Line of Business : |
Service, repair and maintenance of oil and natural gas
well equipment |
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 |
|
Maximum Credit Limit : |
US$ 100,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment
Behaviour : |
No Complaints |
|
|
|
|
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
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
United Arab Emirates |
a2 |
a2 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Bottom of Form
SUMMARY
Company Name : NOV ASEP ELMAR MIDDLE EAST
Country of Origin : United Kingdom
Legal Form : Branch of a Foreign Registered Corporation
Registration Date : 22nd February 2001
Professional Licence Number : 523739
Total Workforce : 14
Activities : Service, repair and maintenance of oil and natural gas well equipment.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 100,000
Person Interviewed : N Suresh, Financial Controller
COMPANY NAME
NOV ASEP ELMAR
MIDDLE EAST
company ADDRESS
Registered & Physical Address
Building : Oilfields Supply Center, Plot No.
B-17
Area : Jebel Ali Free Zone
PO Box : 18633
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 8100100 / 8835910 / 8833515
Facsimile : (971-4) 8837087 / 8833514
Email : ASEPElmar-Dubai@nov.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Jebel Ali Free
Zone Area of Dubai.
KEY PRINCIPALS
Name Position
·
Brian
King General
Manager
·
Shreegesh
Menon Business
Manager
·
Nancy
Demillo Sales
Executive
·
N
Suresh Financial
Controller
LEGAL FORM & OWNERS
Date of Establishment : 22nd
February 2001
Legal Form :
Subject is the United Arab
Emirates registered branch of Nov Asep Elmar Ltd, a Limited
Liability Company incorporated in the United
Kingdom.
Nov Asep Elmar Middle East in
the United Arab Emirates, operates as a Branch of a Foreign Registered
Corporation with its registered office located at the following address:
Nov Asep Elmar Ltd
Aberdeen
United Kingdom
Tel : (44-1224) 740261
A Branch of a Foreign
Registered Corporation is not a legal entity in its own
right. Responsibility for payments
lays in the hands of the company where it is
originally registered.
Under these circumstances, we
strongly advise that any international trade
credit should only be written
under the name of the main company where the
subject holds its registered
office, in this case the United Kingdom.
Professional Lic. No. : 523739
OPERATIONS
Activities: Engaged in the service, repair and
maintenance of oil and natural gas well equipment.
Import
Countries: Europe and the
Far East.
Subject has a workforce
of 14 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
PO Box : 2923
Deira
Tel : (971-4) 3160316
Fax : (971-4) 2264302
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Any credit amount
that is to be offered to this company should be written under the name of “Nov
Asep Elmar Ltd” and directed to the companies head office address in the United
Kingdom.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.82 |
|
UK Pound |
1 |
Rs.72.84 |
|
Euro |
1 |
Rs.64.58 |
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 |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
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 |
|
---- |
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.