MIRA INFORM
REPORT
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Report Date : |
25.04.2012 |
IDENTIFICATION DETAILS
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Name : |
GULF SCAN LLC |
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Registered Office : |
Industrial Area
No. 17, Plot No. 51 & 53, |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
16.12.1992 |
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Com. Reg. No.: |
23349, Sharjah |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Providers of colour separation, digital imaging, graphics and flexographic plate services |
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No. of Employees
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174 |
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$ 200,000 |
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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, 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 : GULF SCAN LLC
Country of Origin :
Legal Form : Limited Liability Company - LLC
Registration Date : 16th December 1992
Commercial Registration Number : 23349, Sharjah
Trade Licence Number : 115982
Chamber Membership Number : 30887
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Total Workforce : 174
Activities :
Providers of colour separation, digital imaging,
graphics and
flexographic plate services.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
Person Interviewed : Shanty Mathew, Accounts Manager
GULF SCAN LLC
Registered &
Physical Address
Location : Industrial Area No. 17, Plot No.
51 & 53
PO Box : 23547
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 5355454
Facsimile : (971-6) 5355459
Email : manojgarg@gulfscan.com / info@gulfscan.com
Premises
Subject operates
from a large suite of offices and a factory that are rented and located in the Industrial
Area of Sharjah.
Name Nationality Position
·
Ashok
Nerker Indian Managing
Director
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Sayed
Obaid Al Jerwan Emirati Director
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Manoj
Garag - General
Manager
·
Tanweer
Barkat - Production
Manager
·
Martins
Savio - Sales
Manager
·
Daharam
Parekh - Financial
Manager
·
Shanty
Mathew - Accounts
Manager
Date of Establishment : 16th
December 1992
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 23349,
Sharjah
Trade Licence No. : 115982
(Expires 13th December 2012)
Chamber Member No. : 30887
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Name of Shareholder
(s) Percentage
·
Sayed
Obaid Al Jerwan 51%
·
Ashok
Nerker 49%
Activities: Engaged in the provision of colour separation, digital imaging, graphics and
flexographic plate services.
Import
Countries: Europe and the
Operating Trend: Steady
Subject has a
workforce of 174 employees.
Financial
highlights provided by local sources are given below:
Currency:
Year
Ending 31/12/10: Year
Ending 31/12/11:
Total Sales UAE Dh
27,500,000 UAE Dh
29,100,000
Local sources consider
subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Standard
Chartered Bank
PO Box: 5
Sharjah
Tel: (971-6) 5357788
Fax: (971-6) 5543604
No complaints
regarding subject’s payments have been reported.
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
company is considered to be 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.52.79 |
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1 |
Rs.85.17 |
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Euro |
1 |
Rs.69.53 |
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.