MIRA
INFORM REPORT
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Report Date : |
11.02.2012 |
IDENTIFICATION DETAILS
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Name : |
DRILLING EQUIPMENT AND SERVICES CO FZCO |
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Registered Office : |
Suite No. 1 Sheikh Zayed Road Jebel Ali Free Zone PO Box 17487 Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
12.05.2003 |
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Legal Form : |
Free Zone Company - FZCO |
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Line of Business : |
Distributors of oil and gas equipment |
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No. of Employees : |
8 |
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$ 150,000 |
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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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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UAE |
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 |
SUMMARY
Company Name : DRILLING EQUIPMENT AND SERVICES CO FZCO
Country of Origin : Dubai, United Arab Emirates
Legal Form : Free Zone Company - FZCO
Registration Date : 12th May 2003
Trade Licence Number : 3853
Chamber Membership Number : 76352
Issued Capital : UAE Dh 500,000
Paid up Capital : UAE Dh 500,000
Total Workforce : 8
Activities : Distributors of oil and gas equipment
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 150,000
COMPANY NAME
DRILLING EQUIPMENT AND SERVICES CO FZCO
ADDRESS
Registered & Physical Address
Building : Suite No. 1
Street : Sheikh Zayed
Road
Area : Jebel Ali
Free Zone
PO Box : 17487
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 8872828
/ 8860277
Facsimile : (971-4)
8872829 / 8860288
Mobile : (971-50)
6610456
Email : info@desco-intl.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.
KEY PRINCIPALS
Name Nationality Position
· Mohamed Saleem
Bukhari French Managing
Director
· Edwige Claudine
Bukhari French Director
LEGAL FORM & OWNERS
Date of
Establishment : 12th
May 2003
Legal Form : Free Zone Company
- FZCO
Trade Licence No. : 3853 (Expires 11/05/2012)
Chamber Member No. : 76352
Issued Capital : UAE Dh 500,000
Paid up Capital : UAE Dh 500,000
Name of Shareholder (s) Percentage
· Mohamed Saleem
Bukhari 60%
· Edwige Claudine
Bukhari 40%
OPERATIONS
Activities: Engaged in the import and distribution of oil and gas equipment.
Import Countries: Europe and the Far East
Subject has a workforce of 8 employees.
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.
BANKERS
·
National Bank of Dubai
Baniyas Street
PO Box: 777
Dubai
Tel:
(971-4) 2222241
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.49.64 |
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|
1 |
Rs.78.35 |
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Euro |
1 |
Rs.65.79 |
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 |
-- |
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.