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Report Date : |
08.12.2012 |
IDENTIFICATION DETAILS
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Name : |
METSO AUTOMATION FZE |
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Registered Office : |
Unit AB-07, Roundabout
8, Sheikh Zayed Road, Jebel Ali Free Zone, P O Box 17175, Dubai |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
01.08.1994 |
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Legal Form : |
Free Zone Establishment |
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Line of Business : |
Distributors of pumps, engines, valves and related spare
parts |
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No. of Employees : |
10 employees |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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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 |
United Arab Emirates - ECONOMIC OVERVIEW
The UAE has an open economy with a high per capita income
and a sizable annual trade surplus. Successful efforts at economic diversification
have reduced the portion of GDP based on oil and gas output to 25%. Since the
discovery of oil in the UAE more than 30 years ago, the UAE has undergone a
profound transformation from an impoverished region of small desert
principalities to a modern state with a high standard of living. The government
has increased spending on job creation and infrastructure expansion and is
opening up utilities to greater private sector involvement. In April 2004, the
UAE signed a Trade and Investment Framework Agreement with
|
Source : CIA |
Company Name : METSO AUTOMATION FZE
Country of Origin :
Legal Form : Free Zone Establishment - FZE
Registration Date : 1st August 1994
Trade Licence Number : 7115
Chamber Membership Number : 33884
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Total Workforce : 10
Activities : Distributors of pumps, engines, valves and related spare parts.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
METSO AUTOMATION
FZE
Registered &
Physical Address
Building : Unit AB-07, Roundabout 8
Street :
Area : Jebel Ali Free Zone
PO Box : 17175
Town :
Country :
Telephone : (971-4) 8836974
Facsimile : (971-4) 8836836
Email : sailesh.lakhani@metso.com
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in the
Jebel Ali Free Zone Area of Dubai.
Name Position
·
P
Tahvanainen Regional
Manager
Date of Establishment: 1st August 1994
Legal Form :
Free Zone Establishment -
FZE
Trade Licence No. : 7115
(Expires 08/08/2013)
Chamber Member No.: 33884
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Name of Shareholder
(s) Percentage
·
Metso
Automation 100%
Activities: Engaged in the import and distribution of
pumps, engines, valves and related spare parts.
Import
Countries: Europe and the
Operating Trend: Steady
Subject has a
workforce of 10 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
15,000,000 UAE Dh
16,200,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Union
National Bank
PO Box: 6811
Tel: (971-4) 2211188
No complaints
regarding subject’s payments have been reported.
Local sources
report that subject meets its payments in a timely manner and is considered to
be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
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US Dollar |
1 |
Rs.54.20 |
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|
1 |
Rs.86.99 |
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Euro |
1 |
Rs.70.22 |
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.