MIRA INFORM
REPORT
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Report Date : |
12.09.2012 |
IDENTIFICATION DETAILS
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Name : |
TATA |
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Registered Office : |
Warehouse No. ZB07,
Sheikh Zayed Road, 8th Roundabout, Jebel Ali Free Zone, P O Box
16980, Dubai |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
12.05.1996 |
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Legal Form : |
Free Zone Establishment. |
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Line of Business : |
Distributors of Chemicals, Metals and Mined Raw Materials.
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No. of Employees : |
6 |
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) |
|
|
a2 |
a2 |
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Risk Category |
ECGC
Classification |
|
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 $10 billion loan from the emirate of Abu Dhabi. The economy is
expected to continue a slow rebound. Dependence on oil, a large expatriate
workforce, and growing inflation pressures are significant long-term challenges.
The UAE''s strategic plan for the next few years focuses on diversification and
creating more opportunities for nationals through improved education and
increased private sector employment.
Source : CIA
Company Name : TATA WEST ASIA FZE
Country of Origin :
Legal Form : Free Zone Establishment - FZE
Registration Date : 12th May 1996
Trade Licence Number : 7126
Chamber Membership Number : 38503
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Total Workforce : 6
Activities : Distributors of chemicals, metals and mined raw materials.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
Person Interviewed : Joydee Guha, General Manager
TATA
Location : Warehouse No. ZB07
Street :
Area : Jebel Ali Free Zone
PO Box : 16980
Town :
Country :
Telephone : (971-4) 8837967 / 8837721 / 8837750
Facsimile : (971-4) 8837806 / 8837725
Email : anand@tatawestasia.ae / joydee@tatawestasia.ae
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Jebel Ali Free Zone.
Name Position
·
Joydee
Guha General
Manager
·
Ajay
Mane Business
Development Manager
Date of Establishment : 12th
May 1996
Legal Form :
Free Zone Establishment -
FZE
Trade Licence No. : 7126
Chamber Member No. : 38503
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
·
Tata
International Limited 100%
Block A, Shivsagar Estate
Worli, Mumbai 400018
Tel: (91-22) 56652200
Fax: (91-22) 56612833
Activities: Engaged in the import and distribution of
chemicals, metals and mined raw materials.
Import
Countries: Europe and the
Brand Names: TOPPS
Operating Trend: Steady
Subject has a
workforce of 6 employees.
Financial highlights
provided by local sources are given below:
Currency:
Year
Ending 31/12/09: Year
Ending 31/12/10:
Total Sales UAE Dh
12,850,000 UAE Dh
14,500,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Joydee Guha, General Manager
·
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.55.52 |
|
|
1 |
Rs.88.84 |
|
Euro |
1 |
Rs.70.85 |
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 |
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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 |
|
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 |
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.