MIRA INFORM
REPORT
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Report Date : |
16.03.2011 |
IDENTIFICATION DETAILS
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Name : |
DOW |
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Registered Office : |
Al
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
24.08.1992 |
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Legal Form : |
Branch of a Foreign Registered Corporation |
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Line of Business : |
Manufacturer of chemical and latex 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$ 250,000 |
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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 – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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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 : DOW
Country of Origin :
Legal Form : Branch of a Foreign Registered Corporation
Registration Date : 24th August 1992
Trade Licence Number : 1441
Chamber Membership Number : 24899
Issued Capital : UAE Dh 44,200,000
Paid up Capital : UAE Dh 44,200,000
Total Workforce : 120
Activities : Manufacturer of chemical and latex products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 250,000
Person Interviewed : Mira Meghdessian, Public Relations Manager
COMPANY NAME
DOW
company ADDRESS
Registered & Physical Address
Building : Al
Street :
PO Box : 7893
Town :
Country :
Telephone : (971-4) 3123699 / 3123635
Facsimile : (971-4) 3328866
Email : mmeghdessian@dow.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Dubai.
Branch
Offices
Location Description
·
Jebel Ali Free Zone
PO Box: 16943
Tel: (971-4) 8060500
Fax: (971-4) 8060555
KEY PRINCIPALS
Name Position
·
Markus
Wildi President
·
Mira Meghdessian Public
Relations Manager
·
Moos Al
Moosa Finance
Manager
·
Thomas
Puchman Purchasing
Manager
LEGAL FORM & OWNERS
Date of Establishment : 24th
August 1992
Legal Form :
Subject is the United Arab Emirates
registered branch of Dow Europe GmbH, a Limited
Liability Company incorporated in
Dow Europe GmbH in the
Registered Corporation
with its registered office located at the following address:
Dow
Am Kronberger Hang 4
Schwalbach
Taunus
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
Trade Licence No. : 1441
(Expires 21/08/2011)
Chamber Member No. : 24899
Issued Capital : UAE Dh 44,200,000
Paid up Capital : UAE Dh 44,200,000
OPERATIONS
Activities: Engaged in the manufacture of chemical and
latex products.
Import
Countries:
Operating Trend: Steady
Subject has a
workforce of 120 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
28,000,000 UAE Dh
30,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
ABN
Amro Bank
Deira Branch
PO Box: 2567
Tel: (971-4) 3512200
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in
1992, subject is a branch of a foreign registered corporation, namely Dow
Europe GmbH of Germany and is involved in the import and distribution of
chemical and latex products.
Any credit amount
that is to be offered to this company should be written under the name of “Dow
Europe GmbH” and directed to the companies head office address in
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.45.27 |
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|
1 |
Rs.72.95 |
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Euro |
1 |
Rs.63.08 |
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.