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Report Date : |
21.11.2012 |
IDENTIFICATION DETAILS
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Name : |
EMERSON FZE |
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Registered Office : |
Jebel Ali Free
Zone – South 2, P O Box 26383 & 17034 & 2383, Dubai |
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Country : |
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Date of Incorporation : |
11.09.1993 |
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Legal Form : |
Free Zone Establishment |
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Line of Business : |
Import and distribution of measurement and analytical
equipment, valves,
regulators, and final control elements, systems,
controllers, and software |
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No. of Employees : |
45 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 : |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
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 : EMERSON FZE
Country of Origin :
Legal Form : Free Zone Establishment - FZE
Registration Date : 11th September 1993
Trade Licence Number : 3388
Chamber Membership Number : 28207
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Total Workforce : 45
Activities : Import and distribution of measurement and analytical equipment,
valves, regulators, and final control elements, systems, controllers, and software
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
EMERSON FZE
Registered &
Physical Address
Location : Jebel Ali Free Zone – South 2
PO Box : 26383 & 17034 & 2383
Town :
Country :
Telephone : (971-4) 8832828 / 8118100 / 8835828 /
8118110
Facsimile : (971-4) 8865465
Email : corporate.emerson@emerson.com
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Jebel
Ali Free Zone,
Name Position
·
David
Birks Marketing
Manager
·
Paul
Smith Sales
Manager
·
Bill
Kofahl Human
Resources Manager
Date of Establishment : 11th
September 1993
Legal Form :
Free Zone Establishment -
FZE
Trade Licence No. : 3388
Chamber Member No. : 28207
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Name of Shareholder (s) Percentage
·
Emerson
Electric Co 100%
·
Emerson
Climate Technology FZE
Jebel Ali Free Zone
Tel: (971-4) 8832828
Activities: Engaged in the import and distribution of
measurement and analytical equipment, valves, regulators, and final
control elements, systems, controllers, and software.
Import
Countries:
Subject has a
workforce of 45 employees.
Companies
registered in
·
HSBC
Bank
Deira Souk Branch
PO Box: 66
Tel: (971-4) 2535000
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.54.91 |
|
|
1 |
Rs.87.38 |
|
Euro |
1 |
Rs.70.24 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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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 |
|
<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.