MIRA INFORM REPORT
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Report Date : |
21.02.2012 |
IDENTIFICATION DETAILS
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Name : |
DORMA INDIA PVT LTD |
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Registered Office : |
Dorma Building,
Sheikh Zayed Road, Jebel Ali Free Zone, P O Box 17268, Dubai |
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Country : |
United Arab Emirates |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
24.11.2008 |
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Legal Form : |
Branch of a Foreign Registered Corporation |
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Line of Business : |
Import and distribution of door controls and fittings |
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No. of Employees
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15 |
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$ 1,500,000 |
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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 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 : DORMA INDIA PVT LTD
Country of Origin : Germany
Legal Form : Branch of a Foreign Registered Corporation
Registration Date : 24th November 2008
Trade Licence Number : 108979
Chamber Membership Number : 159787
Total Workforce : 15
Activities : Import and distribution of door controls and fittings
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 1,500,000
Person Interviewed : Ganesh Walakrishnan, Assistant Accounts Manager
DORMA INDIA PVT LTD
Registered &
Physical Address
Building : Dorma Building
Street : Sheikh Zayed Road
Area : Jebel Ali Free Zone
PO Box : 17268
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 8020400
Facsimile : (971-4) 8869101
Email : dorma@dormagulf.com / enquiry@dormaindia.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Jebel Ali Free
Zone, Dubai.
Name Position
·
Ben
Shaw General
Manager
·
Omar
Hamood Sales
Manager
·
Nasim
Al Yusef Marketing
Manager
·
Sridara
Srinivasan Finance
Manager
·
Sajeev Kanan Accounts
Manager
·
Ganesh
Walakrishnan Assistant
Accounts Manager
Date of Establishment : 24th
November 2008
Legal Form :
Subject is the United Arab
Emirates registered branch of Dorma GmbH & Co KG, a Limited Liability
Company incorporated in Germany.
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 Germany.
Trade Licence No. : 108979
(Expires 14/10/2012)
Chamber Member No. : 159787
·
Dorma
Gulf Doors FZE
Jebel Ali Free Zone
PO Box: 17268
Dubai
United Arab Emirates
Tel: (971-4) 8020400
Activities: Engaged in the import and distribution of
door controls and fittings.
Import
Countries: Germany and
India
Subject has a
workforce of 15 employees.
Financial
highlights provided by local sources are given below:
Currency: United
Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/10: Year
Ending 31/12/11:
Total Sales UAE Dh
97,600,000 UAE Dh
110,000,000
Local sources
consider subject’s financial condition to be Good.
The above figures
were provided by Mr Ganesh
Walakrishnan, Assistant
Accounts Manager
·
Emirates
Bank International Ltd
Jebel Ali Free Zone Branch
PO Box: 2923
Dubai
Tel: (971-4) 8815551
Fax: (971-4) 8815545
·
HSBC
Bank Middle East
Deira Souk Branch
PO Box: 66
Dubai
Tel: (971-4) 2535000
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
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Indian Rupees |
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US Dollar |
1 |
Rs.49.21 |
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UK Pound |
1 |
Rs.77.75 |
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Euro |
1 |
Rs.64.58 |
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.