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Report Date : |
01.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
SANDVIK MIDDLE |
|
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Registered Office : |
1 Plaza Lake Building, Office No. 2702, 27th Floor, |
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Country : |
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Date of Incorporation : |
23.03.2010 |
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Legal Form : |
Free Zone
Establishment - FZE |
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Line of Business : |
Distributors of cutting tools and materials for the oil, gas and drilling industries. |
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No. of Employees : |
35 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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Payment Behaviour : |
No complaint |
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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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 : SANDVIK MIDDLE
Country of Origin :
Legal Form :
Free Zone Establishment - FZE
Registration Date : 23rd
March 2010
Trade Licence
Number : 6058
Chamber Membership
Number : 181190
Issued Capital : UAE Dh
1,000,000
Paid up Capital : UAE Dh
1,000,000
Total Workforce : 35
Activities :
Distributors of cutting tools and materials
for the oil, gas and drilling
industries.
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed : Smert
Panarjee, Administration Manager
SANDVIK MIDDLE
Location : 1 Plaza Lake Building, Office No. 2702, 27th Floor,
PO Box : 261216
Town :
Country :
Telephone : (971-4) 3647200 / 3647215
Facsimile : (971-4) 3647230
Email : sales.mena@sandvik.com / jukka.naapuri@sandvik.ae
Please note that
subject’s previous address was, Jebel Ali Free Zone View Building, South Zone
1, JAFZA Views 19, Office No. 0802/0803, Jebel Ali Free Zone,
Subject operates
from a small suite of offices that are rented and located in the Central Business Area of Dubai.
Branch Office (s)
Location Description
·
Blue
Shed Area Warehouse
premises
Jebel Ali Free Zone
Tel: (971-4) 8860101
Name Position
·
Raj
Kumar Finance
Manager
·
Smert
Panarjee Administration
Manager
·
Marie
Louise Ek Country
Manager
·
Hakan
Karlsson Sales
Manager
·
Smert
Panarjee Administration
Manager
Date of Establishment : 23rd
March 2010
Legal Form :
Free Zone Establishment -
FZE
Trade Licence No. : 6058
(Expires 22/03/2013)
Chamber Member No. : 181190
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
·
Storgatan 2
81181 Sandviken
Tel: (46) 26260000
Activities: Engaged in the import and distribution of cutting tools and materials for the oil, gas
and drilling industries.
Import
Countries:
Subject has a
workforce of 35 employees.
Companies registered
in
·
Emirates
National Bank of
PO Box: 777
Tel: (971-4) 2222241
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.52.69 |
|
|
1 |
Rs.85.71 |
|
Euro |
1 |
Rs.68.14 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.