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Report Date : |
30.04.2012 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
15.06.1986 |
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Com. Reg. No.: |
43160, |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Import and distribution of steel products |
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No. of Employees : |
80 |
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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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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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 :
Country of Origin :
Legal Form : Limited Liability Company - LLC
Registration Date : 15th June 1986
Commercial Registration Number : 43160,
Trade Licence Number : 206468
Chamber Membership Number : 11640
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 80
Activities : Import and distribution of steel products.
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Shajuu Madhavian, Finance Manager
Registered &
Physical Address
Street :
Area : Al Quoz Industrial Area No. 4
PO Box : 8386
Town :
Country :
Telephone : (971-4) 3474411 / 7053800 / 7053850
Facsimile : (971-4) 3472521 / 7053800
Email : dstc@emirates.net.ae / info@dubaisteel.com
Premises
Subject operates
from a suite of offices and a warehouse covering an area of 450,000 square feet
that are owned and located in the Industrial Area of Dubai.
Branch Office
(s)
Location Description
·
·
Name Nationality Position
·
Radhe
Mohan Kapur Indian Managing
Director
·
Tayeb Abdul
Rahim Baqer Emirati Director
·
Bala
Iyer - Administration
Manager
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Shajuu
Madhavian - Finance
Manager
·
Stephan
Gobert - Commercial
Manager
Date of Establishment : 15th
June 1986
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 43160,
Trade Licence No. : 206468
(Expires 10/06/2012)
Chamber Member No. : 11640
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder
(s) Percentage
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A & C For Investment LLC 51%
·
Jebel Ali Free Zone
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PO Box: 11072
Tel: (971-4) 2858800
Fax: (971-4) 2857336
Activities: Engaged in the import and distribution of
steel products, including pipes, tubes, rebars and stainless steel.
It distributes approximately 120,000 tonnes of products per annum.
The company is certified to ISO 9002-1994.
Import
Countries:
Operating Trend: Steady
Subject has a
workforce of 80 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
453,000,000 UAE Dh
462,000,000
Local sources
consider subject’s financial condition to be Good.
The above figures
were provided by Mr Shajuu Madhavian,
Finance Manager
·
National
Bank of
PO Box: 777
Tel: (971-4) 2222241
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
|
Indian Rupees |
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US Dollar |
1 |
Rs.52.68 |
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1 |
Rs.85.12 |
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Euro |
1 |
Rs.69.38 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.