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Report Date : |
04.02.2013 |
IDENTIFICATION DETAILS
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Name : |
TRANS DELTA INTERNATIONAL INDUSTRIES LLC |
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Registered Office : |
Industrial Area No. 15, PO Box 23295,
Sharjah |
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Country : |
United Arab Emirates |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
13.07.1999 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Engaged in the manufacture of metal and aluminium products, including
cable trays, ladders, trunking, struts, conduits, basket trays and pull
boxes. |
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No. of Employees : |
52 |
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) |
|
UAE |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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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 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 :
TRANS DELTA INTERNATIONAL INDUSTRIES LLC
Country of Origin :
Sharjah, United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date :
13th July 1999
Trade Licence Number :
505777
Chamber Membership Number :
45378
Issued Capital :
UAE Dh 350,000
Paid up Capital : UAE Dh 350,000
Total Workforce :
52
Activities :
Manufacturers of metal and aluminium products.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Kalpesh Trevidi, Finance Manager
TRANS DELTA INTERNATIONAL INDUSTRIES LLC
Location : Industrial
Area No. 15
PO Box :
23295
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 5340294
Facsimile : (971-6)
5340072
Email : transdel@emirates.net.ae / accounts@transdelta.ae
Subject operates from a medium sized suite of offices and a factory that
are rented and located in the Industrial Area of Sharjah.
Name Nationality Position
· Saeed
Salim Emirati Managing Director
· Christopher
Thomas British Director
· James
Palalthingal Indian Director
· P Jacoub - General Manager
· Kalpesh Trevidi - Finance
Manager
· M Manoharan - Financial
Controller
Date of
Establishment : 13th
July 1999
Legal Form : Limited Liability
Company - LLC
Trade Licence No. : 505777 (Expires
14/07/2013)
Chamber Member No. : 45378
Issued Capital : UAE Dh 350,000
Paid up Capital : UAE Dh 350,000
· Saeed
Salim 51%
· Christopher
Thomas 30%
· James
Palalthingal 19%
· Power Max Trading
LLC
Sharjah
· Power Max Building
Material Trading LLC
Abu Dhabi
Activities: Engaged in the manufacture of metal and aluminium products, including
cable trays, ladders, trunking,
struts, conduits, basket trays and pull boxes.
Subject has supplied to such prestigious projects as International
Airports of Dubai, Sharjah, Abu Dhabi
and Muscat, Dubai metro Rail Project, more than 300 substations for
DEWA, SEWA & ADWEA, over 400 residential and commercial towers,
desalination plants, schools and refineries in the Middle East.
Import Countries: India and China.
Operating Trend: Steady
Subject has a workforce of 52 employees.
Financial highlights provided by local sources are given below:
Currency: United Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/11: Year Ending
31/12/12:
Total Sales UAE
Dh 20,400,000 UAE Dh
21,000,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
Mashreq Bank Plc
Deira Branch
PO Box: 1250
Dubai
Tel: (971-4)
2229131 / 2221134
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.53.32 |
|
UK Pound |
1 |
Rs.84.59 |
|
Euro |
1 |
Rs.72.62 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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 |
|
-- |
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.