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Report Date : |
20.02.2013 |
IDENTIFICATION DETAILS
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Name : |
LINKERS CHEMICALS AND POLYMERS DMCC |
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Registered Office : |
Indigo Icon Tower, Suite No. 2804, Jumeirah Lakes Towers PO Box 75616
Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
10.02.2010 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Distributors of chemicals and polymers |
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No. of Employees : |
8 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 (31.03.2011) |
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 |
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Very High |
C1 |
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Restricted |
C2 |
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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 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 : LINKERS CHEMICALS AND POLYMERS DMCC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company
Registration Date : 10th February 2010
Trade Licence Number : 31313
Chamber Membership Number : 181651
Issued Capital : UAE Dh 100,000
Paid up Capital : UAE Dh 100,000
Total Workforce : 8
Activities : Distributors of chemicals and polymers
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
LINKERS CHEMICALS AND POLYMERS DMCC
Location : Indigo Icon
Tower, Suite No. 2804, Jumeirah Lakes Towers
PO Box : 75616
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 4474792
Facsimile : (971-4)
4474793
Email : info@lcp.ae
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Dubai.
Name Position
· Malik Pervez Zaman Managing
Director
Date of
Establishment : 10th February
2010
Legal Form : Limited Liability
Company
Trade Licence No. : 31313 (Expires 09/02/2015)
Chamber Member No. : 181651
Issued Capital : UAE Dh 100,000
Paid up Capital : UAE Dh 100,000
· Malik Pervez Zaman
Activities: Engaged in the import and distribution of chemicals and polymers,
including caustic soda, antioxidants, iron oxides, paraffin wax, resins,
stabilizers, latex and acids.
Import Countries: Europe and the Far East.
International Suppliers:
· DSM
· Huntsman
· Lucite
· Flint Hills
Resources
· LG Chem
· Hanwha Chemicals
· Korea Kumho
Petrochemicals Corporation
Export Countries: GCC countries, Africa and Asia.
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.
·
HSBC Bank Middle East
Deira Souk Branch
PO Box:
66
Dubai
Tel: (971-4)
2535000
No complaints regarding subject’s payments have been reported.
According to local sources, subject enjoys a good reputation for the quality
of its products with nothing detrimental uncovered regarding the manner in
which operations are conducted. As such the company is considered to be a fair
trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.29 |
|
|
1 |
Rs.84.09 |
|
Euro |
1 |
Rs.72.44 |
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.