MIRA INFORM REPORT

 

 

Report Date :

10.08.2012

 

IDENTIFICATION DETAILS

 

Name :

SPANCO LIMITED

 

 

Registered Office :

Building No. 16, Office No. 16133, 1st Floor, Jebel Ali Free Zone 16952 Dubai

 

 

Country :

United Arab Emirates

 

 

Date of Incorporation :

19.11.2006

 

 

Legal Form :

Limited Offshore Company

 

 

Line of Business :

Providers of IT solutions, voice and non-voice solutions.

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory 

 

 

Payment Behaviour :

No complaints 

 

 

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

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

United Arab Emirates

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

SUMMARY

 

Company Name                                     : SPANCO LIMITED

Country of Origin                                    : Dubai, United Arab Emirates

Legal Form                                            : Limited Offshore Company

Registration Date                                   : 19th November 2006

Trade Licence Number                            : OF2705

Issued Capital                                        : UAE Dh 7,294,711

Paid up Capital                                      : UAE Dh 7,294,711

Activities                                               : Providers of IT solutions, voice and non-voice solutions.

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

 

COMPANY NAME

 

SPANCO LIMITED

 

 

ADDRESS

 

Registered & Physical Address

 

Building             : Building No. 16, Office No. 16133, 1st Floor

Area                 : Jebel Ali Free Zone

 

PO Box             : 16952

 

Town                 : Dubai

Country             : United Arab Emirates

 

Email                : tjinder@spancogks.com

 

Premises

 

Subject operates from a virtual office in Dubai, all operations are carried out via the subject’s offices in Qatar and Oman.

 

 

KEY PRINCIPALS

 

     Name                                                                                                           Position

 

·       Tjinder Singh Bhatia                                                                                      Managing Director

 

·       Pravin Kumar                                                                                                Director

 

·       Anil Agrawal                                                                                                 Director

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 19th November 2006

 

Legal Form                  : Limited Offshore Company

 

Trade Licence No.       : OF2705

 

Issued Capital              : UAE Dh 7,294,711

 

Paid up Capital            : UAE Dh 7,294,711

 

Name of Shareholder (s)                                                         Percentage

 

·       Spanco Telesystem & Solutions Ltd                                       100%

India

 

 

AFFILIATED COMPANIES

 

·       Spanco Golden Key Solutions WLL

Al Emadi Building

C Ring Road

PO Box: 24857

Doha

Qatar

Tel: (974) 44518611 / 44069000

Fax: (974) 44566027

 

·       Spanco Golden Key Solution LLC

Wadi Kabir

PO Box: 693

Jibroo 114

Oman

Tel: (968) 24811243

Fax: (968) 24812984

 

 

OPERATIONS

 

Activities: Engaged in the provision of IT solutions, voice and non-voice solutions.

 

 

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.

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

 

 

GENERAL COMMENTS

 

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

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.17

UK Pound

1

Rs.86.42

Euro

1

Rs.68.26

 

 

INFORMATION DETAILS

 

Report Prepared by :

PDT

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

--

NB

                                       New Business

 

--

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.