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Report Date : |
06.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
TLD MEAI FZE |
|
|
|
|
Registered Office : |
Airbus Building, Office No. 1104, Plot No. 20 West Ring Road Dubai Airport
Free Zone PO Box 54915 Dubai |
|
|
|
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Country : |
United Arab Emirates |
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|
|
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Year of Incorporation : |
2008 |
|
|
|
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Legal Form : |
Free Zone Establishment – FZE |
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|
|
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Line of Business : |
Distributors of airport ground support equipment |
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|
|
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No. of Employees : |
8 |
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 |
|
Payment Behaviour : |
No Complaints |
|
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, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
UAE |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
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 : TLD MEAI FZE
Country of Origin : Dubai, United Arab Emirates
Legal Form : Free Zone Establishment – FZE
Start Date : 2008
Registration Date : 4th March 2012
Trade Licence Number : 2242
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Total Workforce : 8
Activities : Distributors of airport ground support equipment
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : Shabir Pedkar, Sales Manager
TLD MEAI FZE
Building : Airbus
Building, Office No. 1104, Plot No. 20
Street : West Ring
Road
Area : Dubai
Airport Free Zone
PO Box : 54915
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 7030409
/ 703041
Facsimile : (971-4)
2995852
Mobile : (971-50)
1051207
Email : christophe.lesbaudy@tld-meai.com
/ shabir.petkar@tld-meai.com
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Dubai Airport Free Zone Area of Dubai.
Name Position
· Christophe
Lesbaudy Managing
Director
· Robert Sterry Technical
Manager
· Kenneth Lloyds Administration
Manager
· Shabir Pedkar Sales
Manager
Date of
Establishment : 2008, however
subject was registered on 4th March 2012.
Legal Form : Free Zone Establishment
- FZE
Trade Licence No. : 2242 (Expires 03/03/2014)
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
· TLD Europe 100%
Paris
France
Activities: Engaged in the import and distribution of airport ground support
equipment and solutions.
Import Countries: Europe and the Far East.
Subject has a workforce of 8 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.
·
Dubai Islamic Bank
PO Box: 1080
Dubai
Tel: (971-4)
2953000
Fax: (971-4)
2954111
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.60.82 |
|
|
1 |
Rs.92.96 |
|
Euro |
1 |
Rs.80.73 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.