MIRA INFORM REPORT
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Report Date : |
23.04.2012 |
IDENTIFICATION DETAILS
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Name : |
PLATINUM CORPORATION FZE |
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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 : |
29.10.2003 |
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Legal Form : |
Free Zone Establishment |
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Line of Business : |
Import and distribution of automobiles, frozen foodstuff products, dairy products, chemicals and fertilisers |
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No. of Employees : |
40 |
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$ 2,000,000 |
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Status : |
Good |
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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, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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 |
Company Name : PLATINUM CORPORATION FZE
Country of Origin :
Legal Form : Free Zone Establishment - FZE
Registration Date : 29th October 2003
Trade Licence Number : 327
Chamber Membership Number : 84112
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Total Workforce : 40
Activities : Import and distribution of automobiles, frozen foodstuff products, dairy
products, chemicals and fertilisers.
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 2,000,000
Person Interviewed : Priya Salandha, Administration Manager
PLATINUM CORPORATION FZE
Registered Address
Location :
Town :
Country :
Telephone : (971-4) 2997779
Facsimile : (971-4) 2997776
Physical Address
Location : AG
PO Box : 54513 & 122233
Town :
Country :
Telephone : (971-4) 4340999
Facsimile : (971-4) 4340901
Email : contact@platcorp.com / info@platcorp.com
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Dubai.
Name Nationality Position
·
Arun
Kumar Rishi British Managing
Director
·
Vaidyanathan
Arunachabem - Finance
Manager
·
Priya
Salandha - Administration
Manager
·
Fiona
Fernandes - Administration
Secretary
Date of Establishment : 29th
October 2003
Legal Form :
Free Zone Establishment -
FZE
Trade Licence No. : 327,
DAFZA (Expires 07/05/2012)
Chamber Member No. : 84112
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Name of Shareholder
(s) Percentage
·
Platinum
Investment Ltd * 100%
* Platinum Investment Ltd was formerly known
as Longleigh Asset Management Ltd
·
Platinum
Incorporation DMCC
AG
Tel: (971-4) 4340999
Fax: (971-4) 4340901
·
Platinum
Vision LLC
Tel: (971-4) 4340999
Fax: (971-4) 4340901
Activities: Engaged in the import and distribution of
automobiles, frozen foodstuff products, dairy products, chemicals and
fertilisers.
Import
Countries: Europe,
Operating Trend: Steady
Subject has a workforce
of 40 employees.
Financial
highlights provided by local sources are given below:
Currency:
Year
Ending 31/12/09: Year
Ending 31/12/10:
Total Sales UAE Dh
2,500,000,000 UAE Dh
2,950,000,000
Local sources
consider subject’s financial condition to be Good.
The above figures
were provided by Priya Salandha, Administration Manager
·
National
Bank of
PO Box: 777
Tel: (971-4) 2222241
No complaints
regarding subject’s payments have been reported.
Credit amount 150,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency
Established in
2003, subject is involved in the import and distribution of automobiles, frozen
foodstuff products, dairy products, chemicals and fertilisers.
Local sources
report that payment obligations are met in a generally timely manner and the
operating history is clear. As such the company 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.51.99 |
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1 |
Rs.83.54 |
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Euro |
1 |
Rs.63.40 |
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.