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Report Date : |
13.03.2013 |
IDENTIFICATION DETAILS
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Name : |
PAPER LINK INTERNATIONAL LTD |
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Registered Office : |
LOB No. 5, Sheikh Zayed Road, Jebel Ali Free Zone, PO Box 17913, Dubai |
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Country : |
United Arab Emirates |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
20.03.2001 |
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Legal Form : |
Branch of a Foreign Registered Corporation |
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Line of Business : |
Distributors of waste and recyclable
paper |
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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 (31.03.2012) |
Current Rating (30.06.2012) |
|
United Arab Emirates |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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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 |
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 :
PAPER LINK INTERNATIONAL LTD
Country of Origin :
British Virgin Islands
Legal Form :
Branch of a Foreign Registered Corporation
Registration Date :
20th March 2001
Trade Licence Number :
2838
Chamber Membership Number :
62825
Issued Capital :
UAE Dh 180,000
Paid up Capital :
UAE Dh 180,000
Total Workforce :
8
Activities :
Distributors of waste and recyclable paper
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
T P Parasheed, Financial Controller
PAPER LINK INTERNATIONAL LTD
Registered &
Physical Address
Building : LOB No. 5
Street : Sheikh Zayed
Road
Area : Jebel Ali
Free Zone
PO Box : 17913
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 8811557
/ 2341092
Facsimile : (971-4)
8811688 / 2341093
Email : mail@paperlinkintl.com
/ accounts@paperlinkintl.com
Premises
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Jebel Ali Free Zone Area of Dubai.
Name Nationality Position
Juzar Asgar Ali Pardawala Indian Managing
Director
Mohamed Abdul Saboor - Sales
Manager
T P Parasheed - Financial
Controller
Date of Establishment : 20th
March 2001
Legal Form : Subject is the
United Arab Emirates registered branch of Paper Link International Ltd, a
Limited Liability Company
incorporated in the British Virgin Islands.
Paper Link International Ltd in the United Arab Emirates, operates as a Branch
of
a Foreign Registered Corporation.
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 the British Virgin Islands.
Trade Licence No. : 2838 (Expires
19/03/2013)
Chamber Member No. : 62825
Issued Capital : UAE Dh 180,000
Paid up Capital : UAE Dh 180,000
Paper Link Trading LLC
Dubai
Tel: (971-4) 2341092
Fax: (971-4) 2341093
Activities: Engaged in the import and distribution of waste and recyclable paper.
Import Countries: India and the United States of America.
International Suppliers:
ITC Limited India
Gayatrishakti Paper & Boards Limited India
Ruby Macons Limited India
KPAQ Industries, LLC United
States of America
RAND Whitney Containerboard United
States of America
Export Countries: India, Indonesia, Korea, Middle East and China.
Operating Trend: Steady
Subject has a workforce of 8 employees.
Financial highlights provided by local sources are given below:
Currency: United Arab Emirates Dirham (UAE Dh)
Year Ending 31/12/10: Year Ending 31/12/11:
Total Sales UAE
Dh 49,000,000 UAE Dh
55,000,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr T P Parasheed,
Financial Controller
Abu Dhabi Commercial Bank
Al Rigga Road
PO Box: 5550
Dubai
Tel: (971-4) 2958888 / 3228141
Fax: (971-4) 2959310 / 3279632
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.54.33 |
|
UK Pound |
1 |
Rs.80.89 |
|
Euro |
1 |
Rs.70.73 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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 |
|
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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.