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Report Date : |
25.04.2013 |
IDENTIFICATION DETAILS
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Name : |
TRIBURG TRADE LIMITED |
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Registered Office : |
Lob 3 AG 29, Sheikh
Zayed Road, Jebel Ali Free Zone, P O Box 16939,
Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
09.11.1996 |
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Com. Reg. No.: |
OVR -1509, Dubai |
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Legal Form : |
Branch of a Foreign Registered Corporation |
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Line of Business : |
Subject operates
with a general trade licence and specialises in the import and distribution
of fast moving consumer goods such as foodstuff and beverages, cosmetics and toiletries
as well as electrical goods |
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No. of Employees : |
10 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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) |
|
United Arab
Emirates |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
UAE - 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 country 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. 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 : TRIBURG TRADE LIMITED
Country of Origin : Hong Kong
Legal Form : Branch of a Foreign Registered Corporation
Registration Date : 9th November 1996
Commercial Registration Number : OVR-1509, Dubai
Trade Licence Number : 1509
Chamber Membership Number : 51314
Issued Capital : UAE Dh 4,000
Paid up Capital : UAE Dh 4,000
Total Workforce : 10
Activities : Subject operates with a general trade licence.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
TRIBURG TRADE
LIMITED
Registered & Physical
Address
Building : Lob 3 AG 29
Street : Sheikh Zayed Road
Area : Jebel Ali Free Zone
PO Box : 16939
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 8839744 / 8818956
Facsimile : (971-4) 8818126 / 8818957
Mobile : (971-50) 7387030
Email : tritrade@emirates.net.ae
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Jebel Ali Free Zone, Dubai.
Name Nationality Position
·
Manjeshwar
Balakrishna Mallya Indian Managing
Director
·
Ratan
Mallya Indian Director
·
Laxmi
Narayanan - Sales
Manager
Date of Establishment : 9th
November 1996
Legal Form :
Subject is the United Arab
Emirates registered branch of Triburg Trade Limited, a
Limited Liability Company incorporated in Hong Kong.
Triburg Trade Limited in the
United Arab Emirates, operates as a Branch of a Foreign
Registered Corporation
with its registered office located at the following address:
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 Hong Kong.
Commercial Reg. No. : OVR-1509,
Dubai
Trade Licence No. : 1509
Chamber Member No. : 51314
Issued Capital : UAE Dh 4,000
Paid up Capital : UAE Dh 4,000
Activities: Subject operates with a general trade
licence and specialises in the import and distribution of fast moving consumer
goods such as foodstuff and beverages, cosmetics and toiletries as well as
electrical goods.
Import
Countries: Europe and the
Far East.
Subject has a
workforce of 10 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.
·
Standard
Chartered Bank
Khalid Bin Waleed Street
PO Box: 999
Dubai
Tel: (971-4) 2520455
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.54.30 |
|
UK Pound |
1 |
Rs.82.88 |
|
Euro |
1 |
Rs.70.80 |
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 |
|
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 |
|
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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.