MIRA INFORM REPORT
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Report Date : |
19.10.2012 |
IDENTIFICATION DETAILS
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Name : |
SUPER TECHNICAL FZCO |
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Registered Office : |
Plot No. S10810, Sheikh
Zayed Road, Jebel Ali Free Zone South, P O Box 2828, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
25.02.2007 |
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Legal Form : |
Free Zone Company |
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Line of Business : |
Providers of process control solutions, filtration solutions, fluid connectors and seals, fluid power and control, industrial tools and equipment, piping packages and valves |
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No. of Employees : |
25 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) |
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United Arab
Emirates |
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 Washington and in November 2004 agreed to undertake negotiations toward a Free Trade Agreement with the US, however, those talks have not moved forward. The country's Free Trade Zones - offering 100% foreign ownership and zero taxes - are helping to attract foreign investors. The global financial crisis, tight international credit, and deflated asset prices constricted the economy in 2009. UAE authorities tried to blunt the crisis by increasing spending and boosting liquidity in the banking sector. The crisis hit Dubai hardest, as it was heavily exposed to depressed real estate prices. Dubai lacked sufficient cash to meet its debt obligations, prompting global concern about its solvency. The UAE Central Bank and Abu Dhabi-based banks bought the largest shares. In December 2009 Dubai received an additional $10 billion loan from the emirate of Abu Dhabi. The economy is expected to continue a slow rebound. Dependence on oil, a large expatriate workforce, and growing inflation pressures are significant long-term challenges. The UAE''s strategic plan for the next few years focuses on diversification and creating more opportunities for nationals through improved education and increased private sector employment.
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Source : CIA |
Company Name : SUPER TECHNICAL FZCO
Country of Origin : Dubai, United Arab Emirates
Legal Form : Free Zone Company - FZCO
Registration Date : 25th February 2007
Trade Licence Number : 4881
Chamber Membership Number : 116038
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Total Workforce : 25
Activities :
Providers of process control
solutions, filtration solutions, fluid
connectors and seals, fluid power and control, industrial tools and equipment, piping packages and valves.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
SUPER TECHNICAL
FZCO
Registered &
Physical Address
Location : Plot No. S10810
Street : Sheikh Zayed Road
Area : Jebel Ali Free Zone South
PO Box : 2828
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 8861800
Facsimile : (971-4) 8861900
Email : deepak@supertech.ae / info@supertech.ae
Premises
Subject operates
from a medium sized suite of offices and a warehouse that are rented and
located in the Jebel Ali Free Zone Area of Dubai.
Name Nationality Position
·
Deepak
Odhrani Indian Managing
Director
·
Jitendra
Ashol Odhrani Indian Director
·
Ashok
Odhrani Indian Director
·
Ali Balakandi - Finance
Manager
·
Melvin D’Souza - Commercial
Manager
·
Ebey
Mathew - Financial
Controller
·
Gopal
Raj - Human
Resources Manager
Date of Establishment : 25th
February 2007
Legal Form :
Free Zone Company - FZCO
Trade Licence No. : 4881
Chamber Member No. : 116038
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
·
Deepak
Odhrani
·
Jitendra
Ashol Odhrani
·
Ashok
Odhrani
·
Sun Powergen System & Services LLC
PO Box: 17646
Dubai
·
Sun Powergen System & Services FZC
Jebel Ali Free Zone
Dubai
Activities: Engaged in the provision of process
control solutions, filtration solutions, fluid connectors and seals, fluid power and control, industrial tools and
equipment, piping packages and valves.
Import
Countries: Europe and GCC
countries.
Subject has a
workforce of 25 employees.
Companies
registered in Dubai, United Arab Emirates are not legally required to make
their accounts public and no financial information was released by the company
or submitted by outside sources.
·
Emirates
National Bank of Dubai
Baniyas Street
PO Box: 777
Dubai
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.52.96 |
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UK Pound |
1 |
Rs.85.45 |
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Euro |
1 |
Rs.69.46 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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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 |
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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.