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Report Date : |
31.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
KEMSOL LIMITED |
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|
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Registered Office : |
Sheikh Zayed
Road, Jebel Ali Free Zone, P O Box 18295, 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 : |
17.12.2000 |
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Legal Form : |
Branch of a Foreign Registered Corporation |
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Line of Business : |
Distributors of industrial chemicals, chemical raw materials for PVC and pipes |
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No. of Employees : |
12 |
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) |
|
United Arab
Emirates |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company Name : KEMSOL LIMITED
Country of Origin : United Kingdom
Legal Form : Branch of a Foreign Registered Corporation
Registration Date : 17th December 2000
Trade Licence Number : 2797
Chamber Membership Number : 61513
Total Workforce : 12
Activities : Distributors of industrial chemicals, chemical raw materials for PVC and
pipes.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
KEMSOL LIMITED
Registered &
Physical Address
Street : Sheikh Zayed Road
Area : Jebel Ali Free Zone
PO Box : 18295
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 8839800
Facsimile : (971-4) 8839910
Email : info@kemsoluae.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 Nationality Position
·
Ashit
Gunvantlal Shah Indian Managing
Director
·
Hetal
Topat - Finance
Manager
Date of Establishment : 17th
December 2000
Legal Form :
Subject is the United Arab
Emirates registered branch of Kemsol Limited, a Limited Liability Company
incorporated in United Kingdom.
Kemso Limited in the United Arab
Emirates, operates as a Branch of a Foreign Registered Corporation.
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 the United Kingdom.
Trade Licence No. : 2797
(Expires 16/12/2012)
Chamber Member No. : 61513
Activities: Engaged in the import and distribution of
industrial chemicals, chemical raw materials for PVC and pipes.
Import
Countries: Europe, South
Africa and the Far East.
Agencies Held:
·
SASOL
Solvents South Africa
Export
Countries: GCC countries.
Operating Trend: Steady
Subject has a
workforce of 12 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 8,100,000 UAE Dh 8,500,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
HSBC
Bank Middle East
Deira Souk Branch
PO Box: 66
Dubai
Tel: (971-4) 253500
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.55.44 |
|
UK Pound |
1 |
Rs.87.12 |
|
Euro |
1 |
Rs.68.15 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.