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Report Date : |
21.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
ARROW PIPES &
FITTINGS FZCO |
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|
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Registered Office : |
Jebel Ali Free Zone, Yard No. M0716-0718,
Between Roundabout 12 & 13, 17574 |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
13.10.2002 |
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Legal Form : |
Free Zone Company - FZCO |
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Line of Business : |
Distributors of
Steel Pipes, Fittings, Flanges and Valves. |
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No. of Employees : |
65 |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
US$ 1,800,000 |
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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 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company Name : ARROW PIPES &
FITTINGS FZCO
Country of Origin :
Legal Form :
Free Zone Company - FZCO
Registration Date : 13th
October 2002
Trade Licence
Number : 3331
Chamber Membership
Number : 72426
Issued Capital : UAE Dh
600,000
Paid up Capital : UAE Dh
600,000
Total Workforce : 65
Activities :
Distributors of steel pipes, fittings, flanges and valves.
Financial Condition : Good
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit
Limit : US$ 1,800,000
Person Interviewed : Keshore Hira,
Finance Manager
ARROW PIPES & FITTINGS
FZCO
Location : Jebel Ali Free Zone, Yard No. M0716-0718, Between Roundabout 12 & 13
PO Box : 17574
Town :
Country :
Telephone : (971-4) 8832300
Facsimile : (971-4) 8832301 / 8834001
Email : rockwell@emirates.net.ae / info@arrowpipes.com / nns@arrowpipes.com
Please note that
subject’s previous address was,
Subject operates
from a medium sized suite of offices and a warehouse that are rented and
located in the Jebel Ali Free Zone,
Name Nationality Position
·
Naresh
N Santani Indian Managing
Director
·
Nanik Gogia Indian Director
·
Karan Gogia Indian Director
·
Anil
Navani Indian Sales
Manager
·
Dharmendra
Santani Indian Commercial
Manager
·
Dilip V
Santani Indian Administration
Manager
·
Keshore Hira - Finance
Manager
Date of Establishment: 13th October 2002
Legal Form :
Free Zone Company - FZCO
Trade Licence No. : 3331
Chamber Member No.: 72426
Issued Capital : UAE Dh 600,000
Paid up Capital : UAE Dh 600,000
·
Naresh
N Santani 100%
·
Rockwell
Trading LLC
PO Box: 52637
Tel: (971-4) 2289047
Fax: (971-4) 2227678
·
Arrow
Overseas LLC
PO Box: 2010
Seeb 111
Tel: (968) 24499366
Fax: (968) 24499686 / 24491366
Activities: Engaged in the import and distribution of steel
pipes and fittings, including seamless pipes, electric
resistant welded (ERW) and longitudinal submerged arc welded (LSAW)
pipes, flanges and valves, pumps and engines.
Subject is ISO
9001:2008 accredited.
Import
Countries: Europe and the
Clients:
·
PDO (Petroleum
Development of
·
·
Engineers India
Ltd
·
Toyo Engg India
Ltd
·
Lamprell
Sharjah
·
J Ray Mcdermott
·
Larsen &
Toubro
·
·
NPCC UAE
Operating Trend: Steady
Subject has a
workforce of 65 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
210,463,000 UAE Dh
216,330,000
Local sources
consider subject’s financial condition to be Good.
The above figures
were provided by Mr Keshore Hira, Finance Manager
·
Mashreq
Bank Plc
Deira Branch
PO Box: 1250
Tel:
(971-4) 2229131 / 2221134
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.50.59 |
|
|
1 |
Rs.80.34 |
|
Euro |
1 |
Rs.67.14 |
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.