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Report Date : |
19.05.2012 |
IDENTIFICATION DETAILS
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Name : |
UNIPLAS INTERNATIONAL EST |
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Registered Office : |
Al Al Majaz Area |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
29.12.2003 |
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Com. Reg. No.: |
47283, Sharjah |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Import and distribution of plastics. |
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No. of Employees : |
22 |
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) |
|
UAE |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company Name : UNIPLAS INTERNATIONAL EST
Country of Origin :
Legal Form : Sole Proprietorship
Registration Date : 29th December 2003
Commercial Registration Number : 47283, Sharjah
Trade Licence Number : 525295
Chamber Membership Number : 61441
Invested Capital : UAE Dh 500,000
Total Workforce : 22
Activities : Import and distribution of plastics.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Hetish Parek, Financial Controller
UNIPLAS INTERNATIONAL EST
Building : Al Buheira Tower Plaza, 17th Floor, Office No. 1701
Street :
Area : Al Majaz
Area
PO Box : 60392
Town : Sharjah
Country :
Telephone : (971-6) 5730167
Facsimile : (971-6)
5730168
Email : info@uniplasinternational.com
Subject operates from a medium sized suite of offices that are rented
and located in the Industrial Area of Sharjah.
Name Nationality Position
·
Nikhil Dhruva Bhai Indian Proprietor
& General Manager
·
Parshant Gantara - Assistant
General Manager
·
Aroop Batadarya - Commercial
Manager
·
Hetish Parek - Financial
Controller
Date of
Establishment : 29th
December 2003
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 47283, Sharjah
Trade Licence No. : 525295
Chamber Member No. : 61441
Invested Capital : UAE Dh 500,000
Mr Nikhil Dhruva Bhai is the sole proprietor of the business. Mr Nikhil Dhruva
Bhai is an Indian national who operates in Sharjah under the local sponsorship
of Mr Faisal Khalifa Obaid Al Rashid.
· Uniplas International FZE
Saif Zone
Sharjah
Activities: Engaged in the import and distribution of plastics, including HDPE,
LDPE, LLDPE, PP, PS, PVC, EPS,
GPPS, HIPS, ABS, SBR, NBR, EVA, TDI, DOP,
PA, PET, resin bottle grade and extrusion and bag making machinery.
Import Countries: Europe and the
International Suppliers:
·
Thai Plastic
·
PTT Plastic
Operating Trend: Steady
Subject has a workforce of 22 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 40,000,000 UAE Dh
44,500,000
Local sources consider subject’s financial condition to be Fair.
The above figures were confirmed by Mr Hetish Parek,
Financial Controller
·
Standard Chartered Bank
PO Box: 5
Sharjah
Tel:
(971-6) 5357788
Fax:
(971-6) 5543604
No complaints regarding subject’s payments have been reported.
Credit amount 150,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency
Established in 2003, subject is owned and managed by Mr Nikhil Dhruva
Bhai who is an Indian national operating in Sharjah under the local sponsorship
of Mr Faisal Khalifa Obaid Al Rashid.
Local sources report that the subject’s operating history is clear with
payment obligations met in a generally timely manner. The financial position is
satisfactory and the business is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.87 |
|
|
1 |
Rs.86.46 |
|
Euro |
1 |
Rs.69.49 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
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 |
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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.