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Report Date : |
22.03.2012 |
IDENTIFICATION DETAILS
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Name : |
CORROSION
TECHNOLOGY SERVICES LLC |
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Registered Office : |
Industrial Area
No. 4, 23525 Sharjah |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
08.06.1997 |
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Com. Reg. No.: |
30157, Sharjah |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Manufacture of
Cathodic Protection Materials |
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No. of Employees : |
65 |
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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Maximum Credit Limit : |
US$ 500,000 |
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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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 : CORROSION TECHNOLOGY
SERVICES LLC
Country of Origin :
Legal Form :
Limited Liability Company - LLC
Registration Date : 8th
June 1997
Commercial
Registration Number :
30157, Sharjah
Trade Licence
Number : 3844
Chamber Membership
Number : 39962
Issued Capital : UAE Dh
300,000
Paid up Capital : UAE Dh
300,000
Total Workforce : 65
Activities :
Manufacture of cathodic protection materials
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit
Limit : US$ 500,000
CORROSION
TECHNOLOGY SERVICES LLC
Location : Industrial Area No. 4
PO Box : 23525
Town : Sharjah
Country :
Telephone : (971-6) 5332444
Facsimile : (971-6) 5330938
Email : enquiries@cts-middleeast.com / enquiries@cts-middleeast.com
Subject operates
from a medium sized suite of offices and a factory that are rented and located
in the Industrial Area of Sharjah.
Name Nationality Position
·
Stephan
Paul Wowre British Managing
Director
·
Rodrick
Michael Callon British Director
·
Pudhocode
V Ramanthan Indian Director
·
Steve Bradley - Marketing
Manager
·
Annie Thomas - Accountant
Date of Establishment : 8th
June 1997
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. :
30157, Sharjah
Trade Licence No. : 3844
(Expires 30/06/2012)
Chamber Member No. : 39962
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
·
Al
Nasser Holding 70%
·
Stephan
Paul Wowre 10%
·
Rodrick
Michael Callon 10%
·
Pudhocode
V Ramanthan 10%
·
Wilson
Walton LLC
Sharjah
·
Corrosion
Technology Services LLC
·
Corrpro
Arabia Cathodic Protection Co Ltd
Al Khobar 31952
·
Corrosion
Technical Services Co WLL
·
Corrosion
Technology Services
Mumbai
·
Corrosion
Technology Services
Chennai
Activities: Engaged in the manufacture of cathodic
protection materials.
Subject is ISO 9001
certified.
Import
Countries:
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 18,500,000 UAE Dh 19,350,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
HSBC
Bank
PO Box: 25
Sharjah
Tel: (971-6) 5537222
Fax: (971-6) 5537880
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 |
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|
1 |
Rs.80.34 |
|
Euro |
1 |
Rs.67.14 |
RATING EXPLANATIONS
|
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 |
|
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 |
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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.