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Report Date : |
27.06.2012 |
IDENTIFICATION DETAILS
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Name : |
PLASTOCHEM
INTERNATIONAL LLC |
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Registered Office : |
Al |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
13.01.2002 |
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Com. Reg. No.: |
65472, |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Distributors of
plastic and nylon raw materials, as well as plastic bags and containers. |
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No. of Employees : |
3 |
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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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 |
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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 : PLASTOCHEM INTERNATIONAL LLC
Country of Origin :
Legal Form :
Limited Liability Company - LLC
Registration Date : 13th
January 2002
Commercial
Registration Number : 65472,
Trade Licence
Number : 531034
Chamber Membership
Number : 66589
Issued Capital : UAE Dh
300,000
Paid up Capital : UAE Dh
300,000
Total Workforce : 3
Activities :
Distributors of plastic and nylon raw materials, as well as plastic bags and containers.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Kay Banco, Administration Executive
PLASTOCHEM
INTERNATIONAL LLC
Building : Al Buteen Plaza,10th Floor
Street :
Area : Al Riqqa Area
PO Box : 41566
Town :
Country :
Telephone : (971-4) 2224144
Facsimile : (971-4) 2224208
Email : plastoch@emirates.net.ae / plastochem@eim.ae
Please note that
subject’s previous address was,
Subject operates from
a small suite of offices that are rented and located in the Central Business
Area of Dubai.
Name Nationality Position
·
Manoj
Shetty Sunder Shetty Indian Managing
Director
·
Ahmad
Abdullah Hassan Murad Ahmed Lengawi Emirati Director
·
Kay Banco - Administration
Executive
Date of Establishment : 13th
January 2002
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 65472,
Trade Licence No. : 531034
(Expires 25/12/2012)
Chamber Member No. : 66589
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
·
Ahmad
Abdullah Hassan Murad Ahmed Lengawi 51%
·
Manoj
Shetty Sunder Shetty 49%
Activities: Engaged in the import and distribution of
plastic and nylon raw materials, HDPE,
LDPE, UDPE, GPPS and PVC as well as plastic bags and containers.
Import
Countries:
Operating Trend: Steady
Subject has a
workforce of 3 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 13,840,000 UAE Dh 14,500,000
Local sources consider
subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Commercial
Bank of
PO Box: 2668
Tel: (971-4) 3523355
Fax: (971-4) 3527655 / 2524796
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.57.07 |
|
|
1 |
Rs.88.95 |
|
Euro |
1 |
Rs.71.40 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
RATING EXPLANATIONS
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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 |
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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 |
|
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.