MIRA INFORM REPORT
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Report Date : |
07.08.2012 |
IDENTIFICATION DETAILS
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Name : |
LITASCO MIDDLE EAST DMCC |
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Registered Office : |
Almas Tower, 18th Floor, Office No. 18C, Jumeirah Lakes Towers,
Ras Al Khor Area, PO Box 102648, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
18.10.2004 |
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Legal Form : |
Branch of a Foreign Registered Corporation |
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Line of Business : |
Distributors of crude oil and refined oil products |
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No. of Employees
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10 |
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 : |
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 – September 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 |
Company Name :
LITASCO MIDDLE EAST DMCC
Country of Origin :
Singapore
Legal Form :
Branch of a Foreign Registered Corporation
Registration Date :
18th October 2004
Trade Licence Number :
30085
Chamber Membership Number :
91757
Total Workforce :
10
Activities :
Distributors of crude oil and refined oil products
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
LITASCO MIDDLE EAST DMCC
Registered &
Physical Address
Location : Almas Tower,
18th Floor, Office No. 18C, Jumeirah Lakes Towers
Area : Ras Al Khor
Area
PO Box : 102648
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 3184999
Facsimile : (971-4) 3184998
Email : lhaywood@litasco.ch
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Dubai.
Name Position
Jeremy Conlon Trading
Manager
Date of Establishment : 18th
October 2004
Legal Form : Subject is the
United Arab Emirates registered branch of Lukoil Asia Pacific Pte Ltd,
a Limited
Liability Company incorporated in Singapore.
Litasco Middle East DMCC in the
United Arab Emirates, operates as a Branch of a Foreign Registered
Corporation with its registered office located at the following address:
Lukoil Asia Pacific Pte Ltd
65
Chulia Street
48-07 OCBC Centre
049513 Singapore
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 Singapore.
Trade Licence No. : 30085 (Expires
07/09/2012)
Chamber Member No. : 91757
Activities: Engaged in the
import and distribution of crude oil and refined oil products.
Import Countries: Europe
and the Far East.
Subject has a workforce of 10 employees.
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.
Emirates National Bank of Dubai
Baniyas Street
PO Box: 777
Dubai
Tel: (971-4) 2222241
No complaints regarding subject’s payments have been reported.
Please note that we were unable to contact the subject directly during
our investigation.
Any credit amount that is to be offered to this company should be
written under the name of “Lukoil Asia Pacific Pte Ltd” and directed to the
companies head office address in Singapore.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.55.47 |
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|
1 |
Rs.86.60 |
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Euro |
1 |
Rs.68.66 |
INFORMATION DETAILS
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Report Prepared
by : |
SDA |
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.