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Report Date : |
09.11.2012 |
IDENTIFICATION DETAILS
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Name : |
DRESSER INTERNATIONAL INC |
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Registered Office : |
View 19, 23rd
Floor, Office No. 2301/2308, Jebel Ali Free Zone, |
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Country : |
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Date of Incorporation : |
01.12.1995 |
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Legal Form : |
Branch of a Foreign Registered Corporation |
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Line of Business : |
Distributors of pumps, engines, valves and spare parts |
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No. of Employees : |
40 employees |
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 : |
Branch of a Foreign Registered Corporation |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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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 |
United Arab Emirates - ECONOMIC OVERVIEW
The UAE has an open economy with a high per capita income
and a sizable annual trade surplus. Successful efforts at economic diversification
have reduced the portion of GDP based on oil and gas output to 25%. Since the
discovery of oil in the UAE more than 30 years ago, the UAE has undergone a
profound transformation from an impoverished region of small desert
principalities to a modern state with a high standard of living. The government
has increased spending on job creation and infrastructure expansion and is
opening up utilities to greater private sector involvement. In April 2004, the
UAE signed a Trade and Investment Framework Agreement with
|
Source : CIA |
Company Name : DRESSER INTERNATIONAL INC
Country of Origin :
Legal Form : Branch of a Foreign Registered Corporation
Registration Date : 1st December 1995
Trade Licence Number : 1201
Chamber Membership Number : 39290
Issued Capital : UAE Dh 37,000,000
Paid up Capital : UAE Dh 37,000,000
Total Workforce : 40
Activities : Distributors of pumps, engines, valves and spare parts
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : Vinod Kumar, Operations Manager
DRESSER
INTERNATIONAL INC
Registered &
Physical Address
Building : View 19, 23rd Floor,
Office No. 2301/2308
Area : Jebel Ali Free Zone
PO Box : 61302
Town :
Country :
Telephone : (971-4) 8838752 / 8991777
Facsimile : (971-4) 8838038
Email : dvcdjafz@emirates.net.ae / vinodkumar.k@ge.com
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the
Suburban Business Area of Dubai.
Name Position
·
Dyab
Sary General
Manager
·
Ghopal
Raju Finance
Manager
·
Damodar
Jadish Commercial
Manager
·
Vinod
Kumar Operations
Manager
Date of Establishment : 1st
December 1995
Legal Form :
Subject is the United Arab
Emirates registered branch of Dresser International Inc a Limited Liability Company incorporated in the
Dresser International Inc in the
Foreign Registered
Corporation.
A Branch of a Foreign
Registered Corporation is not a legal entity in its own
right. Responsibility for
payments lays in the hands of the company where it is
originally registered.
Under these circumstances, we
strongly advise that any international trade
credit should only be written under
the name of the main company where the
subject holds its registered
office, in this case the
Trade Licence No. : 1201
(Expires 30/11/2012)
Chamber Member No. : 39290
Issued Capital : UAE Dh 37,000,000
Paid up Capital : UAE Dh 37,000,000
Activities: Engaged in the import and distribution of
pumps, engines, valves and spare parts.
Import
Countries: Europe and the
Brand Names: DRESSER MASONEILAN
Subject has a
workforce of 40 employees.
Companies
registered in
·
Standard
Chartered Bank
PO Box: 999
Tel: (971-4) 2520455
No complaints
regarding subject’s payments have been reported.
Please note that
there is no legal entity registered in
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.54.44 |
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|
1 |
Rs.87.00 |
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Euro |
1 |
Rs.69.43 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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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 |
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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.