MIRA INFORM REPORT

 

 

Report Date :           

22.11.2011

 

IDENTIFICATION DETAILS

 

Name :

LIN SCAN ADVANCED PIPELINES & TANKS SERVICES

 

 

Registered Office :

Khalid Ibn Al Waleed Street, Al Souq Al Kabir, P O Box 62159, Dubai

 

 

Country :

United Arab Emirates 

 

 

Date of Incorporation :

15.05.2001

 

 

Com. Reg. No.:

87185, Dubai

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Providers of pipeline integrity services

 

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$ 150,000

Status :

Satisfactory

Payment Behaviour :

Regular

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

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

 

SUMMARY

 

Company Name                                     : LIN SCAN ADVANCED PIPELINES & TANKS SERVICES

Country of Origin                                    : Dubai, United Arab Emirates

Legal Form                                            : Sole Proprietorship

Registration Date                                   : 15th May 2001

Commercial Registration Number            : 87185, Dubai

Trade Licence Number                            : 526457

Chamber Membership Number                : 64018

Invested Capital                                     : UAE Dh 200,000

Total Workforce                                     : 12

Activities                                               : Providers of pipeline integrity services.

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

Recommended Credit Limit                     : US$ 150,000

 

 

 

COMPANY NAME

 

LIN SCAN ADVANCED PIPELINES & TANKS SERVICES

 

 

company ADDRESS

 

Registered & Physical Address

Street               : Khalid Ibn Al Waleed Street

Area                 : Al Souq Al Kabir

PO Box             : 62159

Town                 : Dubai

Country             : United Arab Emirates

Telephone         : (971-4) 3552237

Facsimile          : (971-4) 3552238

Email                : ianya@linscaninspection.com

 

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

 

·       Tanja El Chami                                 Serbian                                     Proprietor

 

·       Mohamed Khalid Al Shami                 Emirati                                      Local Sponsor

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 15th May 2001

 

Legal Form                  : Sole Proprietorship

 

Commercial Reg. No.  : 87185, Dubai

 

Trade Licence No.       : 526457 (Expires 14/05/2012)

 

Chamber Member No. : 64018

 

Invested Capital           : UAE Dh 200,000

 

Mr Tanja El Chami is the sole proprietor of the business.

 

 

AFFILIATED COMPANIES

 

·       Lin Scan Advanced Pipeline & Tank Services FZE

Plot No. 1H24

Ajman-Umm Al Quwain Road (E 11)

Hamriyah Free Zone

PO Box: 41933

Sharjah

Tel: (971-6) 5262042

Fax: (971-6) 5262043

 

 

OPERATIONS

 

Activities: Engaged as providers of pipeline integrity services including the following services, calliper survey and pig tracking, mapping, cleaning, inspection by using MFL (hand held) and pipeline integrity assessment.

 

Import Countries: Europe and the Far East.

 

Subject has a workforce of 12 employees.

 

 

FINANCIAL DATA

 

Companies registered in Dubai 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

Baniyas Road

Deira

PO Box: 2923

Dubai

Tel: (971-4) 3160316

Fax: (971-4) 2264302

 

 

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 business is considered to be a fair trade risk.

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.51.72

UK Pound

1

Rs.81.42

Euro

1

Rs.68.89

 

 

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.