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Report Date : |
26.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
DOW |
|
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|
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Registered Office : |
Al Attar Business Tower Sheikh Zayed Road PO Box 7893 |
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Country : |
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|
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
24.08.1992 |
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Legal Form : |
Branch of a Foreign Registered Corporation |
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Line of Business : |
Manufacturer of chemical and latex products. |
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No. of Employees : |
120 |
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 : |
Branch of a Foreign Registered Corporation |
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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) |
|
UAE |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company Name :
DOW
Country of Origin :
Legal Form : Branch of a Foreign Registered Corporation
Registration Date : 24th August 1992
Trade Licence Number : 1441
Chamber Membership Number : 24899
Issued Capital : UAE Dh 44,200,000
Paid up Capital : UAE Dh 44,200,000
Total Workforce : 120
Activities : Manufacturer of chemical and latex products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Mira Meghdessian, Public Relations Manager
DOW
Building : Al
Street :
PO Box : 7893
Town :
Country :
Telephone : (971-4) 3123699 / 3123635 / 3328866
Facsimile : (971-4) 3328866 / 3123660
Email : mmeghdessian@dow.com
Subject operates from a small suite of offices that are rented and located
in the Central Business Area of Dubai.
Branch Offices
Location Description
·
Jebel Ali Free
Zone
PO Box: 16943
Tel: (971-4)
8060500 / 8074200
Fax: (971-4)
8060555 / 8074300
Name Position
· Markus Wildi President
· Mira Meghdessian Public
Relations Manager
· Moos Al Moosa Finance
Manager
· Thomas Puchman Purchasing
Manager
Date of
Establishment : 24th
August 1992
Legal Form : Subject is the
United Arab Emirates registered branch of Dow Europe GmbH, a Limited
Liability Company
incorporated in
Dow
Europe GmbH in the
Registered
Corporation with its registered office located at the following address:
Dow
Am Kronberger Hang 4
Schwalbach
Taunus
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
Trade Licence No. : 1441
Chamber Member No. : 24899
Issued Capital : UAE Dh 44,200,000
Paid up Capital : UAE Dh 44,200,000
Activities: Engaged in the manufacture of chemical and latex products.
Import Countries:
Operating Trend: Steady
Subject has a workforce of 120 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 30,000,000 UAE Dh
31,700,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local sources.
·
ABN Amro Bank
Deira Branch
PO Box: 2567
Tel:
(971-4) 3512200
No complaints regarding subject’s payments have been reported.
Established in 1992, subject is a branch of a foreign registered corporation,
namely Dow Europe GmbH of Germany and is involved in the import and
distribution of chemical and latex products.
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.56.37 |
|
|
1 |
Rs.87.44 |
|
Euro |
1 |
Rs.68.04 |
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.