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Report Date : |
07.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
TECHNOPRO
INTERNATIONAL GROUP FZ LLC (TIG) |
|
|
|
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Registered Office : |
Sheikh Zayed
Road, Jebel Ali Free Zone, P O Box 17014 & 61199 & 6719
& 261044, Dubai |
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Country : |
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Date of Incorporation : |
05.02.2001 |
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Com. Reg. No.: |
427, |
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Legal Form : |
Free Zone Company
– FZ LLC |
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Line of Business : |
Distributors
of Pipes, Fittings and Firefighting Products. |
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No. of Employees : |
25 |
RATING & COMMENTS
|
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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
|
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
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 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 : TECHNOPRO
INTERNATIONAL GROUP FZ LLC (TIG)
Country of Origin :
Legal Form :
Free Zone Company – FZ LLC
Registration Date : 5th
February 2001
Commercial
Registration Number : 427,
Trade Licence
Number : 2893
Chamber Membership
Number : 64882
Issued Capital : UAE Dh
500,000
Paid up Capital : UAE Dh
500,000
Total Workforce : 25
Activities :
Distributors of pipes, fittings and firefighting products.
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed : Mohamed
Ayoub, Finance Manager
TECHNOPRO
INTERNATIONAL GROUP FZ LLC (TIG)
Street :
Area : Jebel Ali Free Zone
PO Box : 17014 & 61199 & 6719
& 261044
Town :
Country :
Telephone : (971-4) 8811649 / 8873396 / 8876401
Facsimile : (971-4) 8812789 / 8816229 / 8873397
Email : technop@emirates.net.ae / info@tig.ae / ayoub@techprome.com
/ info@techprome.com
Subject operates from
a medium sized suite of offices and a warehouse that are rented and located in
the Jebel Ali Free Zone Area of Dubai.
Name Position
·
Khaled
Al Khateeb Managing
Director
·
Mazen
Abdulqader Hannawi Chief
Executive Officer
·
Mohamed Ayoub Finance
Manager
·
Ahmed Cholen Financial
Controller
Date of Establishment : 5th
February 2001
Legal Form :
Free Zone Company – FZ LLC
Commercial Reg. No. : 427,
Trade Licence No. : 2893
(Expires 02/11/2013)
Chamber Member No. : 64882
Issued Capital : UAE Dh 500,000
Paid up Capital : UAE Dh 500,000
·
Khaled
Al Khateeb 100%
·
Naffco Fire Fighting Manufacturing
Jebel Ali
Tel: (971-4) 8066507
·
Brass
Light LLC
Tel: (971-4) 8851111
·
Technopro Middle
Activities: Engaged in the import
and distribution of pipes, fittings and fire fighting products.
Import
Countries: Europe and
International Suppliers:
·
Surya Steel
·
Shield Fire and Safety
Subject has a
workforce of 25 employees.
Companies
registered in
·
Citibank
Bur
PO Box: 749
Tel: (971-4) 2522100
Fax: (971-4) 2524942
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.61.92 |
|
|
1 |
Rs.99.60 |
|
Euro |
1 |
Rs.83.64 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
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.