MIRA INFORM REPORT
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Report Date : |
27.09.2011 |
IDENTIFICATION DETAILS
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Name : |
SUGI LTD |
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Registered Office : |
Sheikh Zayed
Road, Jebel Ali Free Zone, P O Box 61192, Dubai |
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Country : |
United Arab Emirates |
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Financials (as on) : |
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Date of Incorporation : |
23.04.2006 |
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Legal Form : |
Branch of a Foreign Registered Corporation |
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Line of Business : |
Manufacturers of cables and wiring |
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 : SUGI LTD
Country of Origin : Isle of Man
Legal Form : Branch of a Foreign Registered Corporation
Registration Date : 23rd April 2006
Trade Licence Number : 1068
Chamber Membership Number : 106824
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Total Workforce : 40
Activities : Manufacturers of cables and wiring
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 150,000
COMPANY NAME
SUGI LTD
company ADDRESS
Registered &
Physical Address
Street : Sheikh Zayed Road
Area : Jebel Ali Free Zone
PO Box : 61192
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 8811797
Facsimile : (971-4) 8818166 / 8873239
Email : info@sugi-cables.com / sujltd@emirates.net.ae
Premises
Subject operates
from a medium sized suite of offices and a factory that are rented and located
in the Jebel Ali Free Zone Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
·
Shahab
Ud Din Baqui Pakistani Managing
Director
LEGAL FORM & OWNERS
Date of Establishment : 23rd
April 2006
Legal Form :
Subject is the United Arab
Emirates registered branch of Sugi Ltd, a Limited Liability
Company incorporated in the Isle of Man.
Sugi Ltd in the United Arab Emirates,
operates as a Branch of a Foreign Registered
Corporation.
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 Isle of Man.
Trade Licence No. : 1068
(Expires 14/04/2012)
Chamber Member No. : 106824
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
OPERATIONS
Activities: Engaged in the manufacture and distribution
of auto electrical wires, power supply wires, single core and three core flexible insulated conductors.
Import
Countries: Europe and the Far East
Subject has a
workforce of 40 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
Tel: (971-4) 2281181
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 “Sugi
Ltd” and directed to the companies head office address in the Isle of Man.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.62 |
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UK Pound |
1 |
Rs.76.68 |
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Euro |
1 |
Rs.66.47 |
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 |
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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.