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Report Date : |
20.07.2012 |
IDENTIFICATION DETAILS
|
Correct Name : |
ME GLOBAL INTERNATIONAL FZE |
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Registered Office : |
Building
No. 5W, B Wing, 6th Floor, |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
08.07.2004 |
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Legal Form : |
Free Zone Establishment |
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Line of Business : |
Manufacturers of petrochemicals and related products |
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No. of Employees : |
25 |
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 |
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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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
|
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company Name :
ME GLOBAL INTERNATIONAL FZE
Country of Origin :
Legal Form :
Free Zone Establishment - FZE
Registration Date :
8th July 2004
Trade Licence Number :
1085
Issued Capital :
UAE Dh 1,000,000
Paid up Capital :
UAE Dh 1,000,000
Total Workforce :
25
Activities :
Manufacturers of petrochemicals and related products.
Financial Condition :
Good
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Promod Lakshman, Administration Manager
ME GLOBAL INTERNATIONAL FZE
Registered &
Physical Address
Building : Building No. 5W, B Wing, 6th
Floor
Area :
PO Box : 293615
Town :
Country :
Telephone : (971-4) 2923999
/ 2923913
Facsimile : (971-4)
2923911
Email : whbaur@meglobal.biz
/ hfroth@meglobal.biz
/ info@meglobal.biz
Premises
Subject operates from a medium sized suite of offices that are rented
and located in the Dubai Airport Free Zone Area.
Name Position
· Henry Roth Managing
Director
· Ramesh Rama Chandran Chief
Executive Officer
· Niklaus Meier Chief
Financial Officer
· Werner Baur General Manager
· Ben Poon Commercial
Manager
· Promod Lakshman Administration
Manager
Date of
Establishment : 8th
July 2004
Legal Form : Free Zone
Establishment - FZE
Trade Licence No. : 1085
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Name of Shareholder
(s) Percentage
·
DOW Chemicals 50%
·
Petrochemical Industries Co (PIC) 50%
Activities: Engaged in the manufacture of petrochemicals and related products.
Import Countries:
Operating Trend: Steady
Subject has a workforce of 25 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 65,000,000 UAE Dh
68,300,000
Local sources consider subject’s financial condition to be Good.
The above figures were provided by Mr Promod Lakshman, Administration
Manager
·
Commercial Bank of
Deira
PO Box: 1709
Tel: (971-4)
2227121 / 2253222
Fax: (971-4)
2220943 / 2254565
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.38 |
|
|
1 |
Rs.86.75 |
|
Euro |
1 |
Rs.68.06 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.