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Report Date : |
13.06.2013 |
IDENTIFICATION DETAILS
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Name : |
CALTROLS MIDDLE EAST FZCO |
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Registered Office : |
Sheikh Zayed Road,
Jebel Ali Free Zone, LC 6, Roundabout No. 8, P O Box 18173, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
28.07.2002 |
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Legal Form : |
Free Zone Company |
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Line of Business : |
Providers of servicing for various tests and measurements, process and controls instrumentation and valves specializing in engineering. |
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No. of Employees : |
20 |
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 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
United Arab
Emirates |
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 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 : CALTROLS MIDDLE EAST FZCO
Country of Origin : Dubai, United Arab Emirates
Legal Form : Free Zone Company - FZCO
Registration Date : 28th July 2002
Trade Licence Number : 3510
Chamber Membership Number : 109074
Issued Capital : UAE Dh 500,000
Paid up Capital : UAE Dh 500,000
Total Workforce : 20
Activities : Providers of servicing for various tests and measurements, process and
controls instrumentation and valves specializing in engineering.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
CALTROLS MIDDLE
EAST FZCO
Registered &
Physical Address
Street : Sheikh Zayed Road
Area : Jebel Ali Free Zone, LC 6,
Roundabout No. 8
PO Box : 18173
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 8839985
Facsimile : (971-4) 8839984
Email : sales@caltrols.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Jebel Ali Free
Zone Area of Dubai.
Name Nationality Position
·
Mohamed
Abdul Raqeeb Mohamed Abdul Rasheed Pakistani Managing Director
·
Tabassum
Rafeeq Pakistani Director
·
Waheed
Shahzad Shahzad Afzal Pakistani Director
Date of Establishment : 28th
July 2002
Legal Form :
Free Zone Company - FZCO
Trade Licence No. : 3510
(Expires 07/07/2013)
Chamber Member No. : 109074
Issued Capital : UAE Dh 500,000
Paid up Capital : UAE Dh 500,000
Name of Shareholder
(s) Percentage
·
Mohamed
Abdul Raqeeb Mohamed Abdul Rasheed 60%
·
Tabassum
Rafeeq 20%
·
Waheed
Shahzad Shahzad Afzal 20%
Activities: Engaged in the provision of servicing for
various tests and measurements, process and controls
instrumentation and valves specializing in
engineering.
Subject is ISO 9001:2008 accredited
Import
Countries: United States of
America, United Kingdom and Italy.
International
Suppliers:
·
Norriseal United States of
America
·
Euromag
International Italy
·
Hoffer
Flow Controls Inc United States of
America
·
Rototherm United Kingdom
·
Crystal
Engineering Corp. United States of
America
·
Maxseal United Kingdom
·
Dynisco United States of
America
·
Mercer
Valve Co. Inc. United States of
America
·
Graphic
Controls LLC United States of
America
Subject has a
workforce of 20 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.
·
Banque
Paribas
Twin Towers, 14th Floor
Baniyas Street
PO Box: 7233
Dubai
Tel: (971-4) 2525929
No complaints
regarding subject’s payments have been reported.
Local sources report
that the subject’s operating history is clear with payment obligations met in a
generally timely manner. The financial position is satisfactory and the company
is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.27 |
|
UK Pound |
1 |
Rs.91.16 |
|
Euro |
1 |
Rs.77.50 |
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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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.