|
Report Date : |
06.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
MASTER LUBRICANTS FZ LLC |
|
|
|
|
Registered Office : |
Al Jazeera Al Hamra, RAK Free Zone, Plot No. |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
21.01.2012 |
|
|
|
|
Com. Reg. No.: |
42235, Ras Al Khaimah |
|
|
|
|
Legal Form : |
Free Zone Company – FZ LLC |
|
|
|
|
Line of Business : |
Manufacturers of oils, lubricants and greases. |
|
|
|
|
No. of Employees : |
12 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Unknown |
|
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
Source
: CIA
Company Name : MASTER LUBRICANTS FZ LLC
Country of Origin :
Ras Al Khaimah,
Legal Form : Free Zone Company – FZ LLC
Registration Date : 21st January 2012
Commercial Registration Number : 42235, Ras Al Khaimah
Trade Licence Number : RAKIA 23FZI02113787
Issued Capital : UAE Dh 200,000
Paid up Capital : UAE Dh 200,000
Total Workforce : 12
Activities : Manufacturers of oils, lubricants and greases.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
MASTER LUBRICANTS FZ LLC
Location : Al Jazeera Al
Hamra, RAK Free Zone, Plot No. E 83/84
PO Box : 86164
Town : Ras Al
Khaimah
Country :
Telephone : (971-7) 2433906
Facsimile : (971-7) 2433908
Email : yjawed@gmail.com
Please note that the correct PO Box number is 86164 and not 86174.
Subject operates from a small suite of offices and a factory that are
rented and located in the Ras Al Khaimah Free Zone Area.
Name Nationality Position
· Yasser Jawed Canadian Managing
Director
· Asif Ali Khan Canadian Director
· Anwar Jawed Pakistani Director
Date of
Establishment : 21st
January 2012
Legal Form : Free Zone Company
– FZ LLC
Commercial Reg.
No. : 42235, Ras Al Khaimah
Trade Licence No. : RAKIA 23FZI02113787
Issued Capital : UAE Dh 200,000
Paid up Capital : UAE Dh 200,000
· Yasser Jawed
· Asif Ali Khan
· Anwar Jawed
Activities: Engaged in the manufacture of oils, lubricants and greases. Subject has
yet to reach full capacity.
Import Countries: Europe and the
Subject has a workforce of 12 employees.
Subject is a newly formed business and as a result financial information
is not currently available.
·
National Bank of Ras Al Khaimah
PO Box: 5300
Ras Al Khaimah
Tel: (971-7)
2221127
Fax: (971-7)
2224202
No complaints regarding subject’s payments have been reported.
In view of subject’s infancy, extensive payment and financial are not
available, therefore dealings are recommended to be on secured terms, and a
close monitoring of subject’s business development is advisable.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.79 |
|
|
1 |
Rs.98.66 |
|
Euro |
1 |
Rs.83.42 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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.