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Report Date : |
29.11.2013 |
IDENTIFICATION DETAILS
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Name : |
IYER INTERNATIONAL LLC |
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Registered Office : |
Al Mussalla
Tower, Suite No. 1202, Bur Dubai, Deira, P O Box 30575, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
31.12.2008 |
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Com. Reg. No.: |
1039544, Dubai |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
importer and distributor of petroleum and
petrochemicals, scrap metal and building materials including slop oil, wash
oil, fuel oil, bitumen, base oil, diesel, Pyrolysis oil and Pygas |
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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 – September 30th, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
United Arab
Emirates |
A2 |
A2 |
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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 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 : IYER INTERNATIONAL LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 31st December 2008
Commercial Registration Number : 1039544, Dubai
Trade Licence Number : 620697
Chamber Membership Number : 164590
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 20
Activities : Distributors of petrochemicals, scrap metal and building materials
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Operating Trend : Steady
IYER INTERNATIONAL
LLC
Registered & Physical
Address
Building : Al Mussalla Tower, Suite No. 1202
Area : Bur Dubai, Deira
PO Box : 30575
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 4306788 / 3426670
Facsimile : (971-4) 4306789 / 3426671
Mobile : (971-50) 9060819
Email : info@iyerintluae.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Dubai.
Name Nationality Position
·
Amit Balakreshnan
Iyer Indian Managing
Director
·
Amr
Balakreshnan Iyer Indian Director
·
Balakreshnan
Supramanyan Indian Director
·
Menakshi
Balakreshnan Supramanyan Balakreshnan Indian Director
·
Ahmed
Hassan Baker Ahli Emirati Director
Date of Establishment : 31st
December 2008
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 1039544,
Dubai
Trade Licence No. : 620697
(Expires 20/12/2013)
Chamber Member No. : 164590
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder
(s) Percentage
·
Ahmed
Hassan Baker Ahli 51%
·
Amr
Balakreshnan Iyer 40%
·
Amit
Balakreshnan Iyer 7%
·
Balakreshnan
Supramanyan 1%
·
Menakshi
Balakreshnan Supramanyan Balakreshnan 1%
Activities: Engaged in the import and distribution of
petroleum and petrochemicals, scrap metal and building
materials. Subject’s products
include slop oil, wash oil, fuel oil, bitumen, base oil, diesel, Pyrolysis oil
and Pygas.
Import
Countries: Europe and the
Far East
Subject has a
workforce of 20 employees.
Companies
registered in Dubai are not legally required to make their accounts public and
no financial information was released by the company or submitted by outside
sources.
·
Dubai
Islamic Bank
PO Box: 1080
Dubai
Tel: (971-4) 2953000
Fax: (971-4) 2954111
No complaints regarding
subject’s payments have been reported.
According to local
sources, subject meets its payment obligations in a timely manner and the
company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.39 |
|
|
1 |
Rs.101.80 |
|
Euro |
1 |
Rs.84.75 |
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 |
|
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 |
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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.