MIRA INFORM REPORT
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Report Date : |
21.03.2012 |
IDENTIFICATION DETAILS
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Name : |
ADANI GLOBAL FZE |
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Registered Office : |
Plot
No. MO226, Sheikh Zayed Road,
Jebel Ali Free Zone, PO Box 17186, 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 : |
01.10.1999 |
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Legal Form : |
Free Zone Establishment |
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Line of Business : |
Distributors of scrap steel, ferrous and non ferrous metals and coal |
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No. of Employees
: |
28 |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Good |
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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
|
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 : ADANI GLOBAL FZE
Country of Origin : Dubai, United Arab Emirates
Legal Form : Free Zone Establishment - FZE
Registration Date : 1st October 1999
Trade Licence Number : 1947
Chamber Membership Number : 51852
Issued Capital : UAE Dh 18,000,000
Paid up Capital : UAE Dh 18,000,000
Total Workforce : 28
Activities : Distributors of scrap steel, ferrous and non ferrous metals and coal.
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Suresh Kandiga, Administration Executive
ADANI GLOBAL FZE
Registered &
Physical Address
Building : Plot
No. MO226
Street : Sheikh Zayed Road
Area : Jebel Ali Free Zone
PO Box : 17186
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 8818048
Facsimile : (971-4) 8818207
Mobile : (971-50) 5449234
Email : adani@emirates.net.ae / adaniglb@emirates.net.ae
/ adaniglb@eim.ae / rpnair@eim.ae
suresh@adani-global.com / mugesh@adani-global.com
Premises
Subject operates
from a medium sized suite of offices and a warehouse that are rented and
located in the Jebel Ali Free Zone.
Branch Offices
Location Description
·
Al
Mankhool Street Rented
office premises
Dubai
Tel: (971-4) 3555484
Fax: (971-4) 3597801
Name Position
·
Rakesh
Shah Managing
Director
·
Pranov
Vora Director
·
Mugesh
Murali Dharen Administration
Manager
·
Suresh Kandiga Administration
Executive
·
Ashish
Chokhsi Finance
Manager
Date of Establishment : 1st
October 1999
Legal Form :
Free Zone Establishment -
FZE
Trade Licence No. : 1947
(Expires 14/03/2013)
Chamber Member No. : 51852
Issued Capital : UAE Dh 18,000,000
Paid up Capital : UAE Dh 18,000,000
Name of Shareholder
(s) Percentage
·
Adani
Global Limited 100%
Mauritius
·
Adani
Exports Limited
Adani House
Navarangpura
Ahmedabad 380 009
Gujarat
India
Tel: (91-79) 26565555 / 25555555
Fax: (91-79) 26565500 / 26555500
·
Adani
Global Pte Ltd
Vietnam
·
Adani
Global Pte Ltd
Singapore
·
Adani
Virginia Inc
United States of America
Activities: Engaged in the import and distribution of
scrap steel, ferrous and non ferrous metals and coal.
Import
Countries: Europe and the
Far East
Operating Trend: Steady
Subject has a
workforce of 28 employees.
Financial highlights
provided by local sources are given below:
Currency: United
Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/11:
Total Sales UAE
Dh 353,100,000
Local sources
consider subject’s financial condition to be Good.
The above figures were provided by Mr Suresh Kandiga, Administration Executive
·
Habib
Bank Ltd
Murshid Bazaar
PO Box: 888
Dubai
Tel: (971-4) 2221281
Fax:
(971-4) 2284631
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.50.25 |
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UK Pound |
1 |
Rs.79.76 |
|
Euro |
1 |
Rs.66.52 |
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 |
---- |
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.