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Report Date : |
12.10.2013 |
IDENTIFICATION DETAILS
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Name : |
HONEYWELL AUTOMATION INDIA LIMITED |
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Registered Office : |
Sheikh Zayed
Road, Jebel Ali Free Zone, P O Box 17713 & 262263, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
26.08.2007 |
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Legal Form : |
Branch of a Foreign Registered Corporation |
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Line of Business : |
Provision of automation and control solutions |
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No. of Employees : |
30 |
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, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
United Arab
Emirates |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
|
Moderate |
B1 |
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High |
B2 |
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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 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 : HONEYWELL AUTOMATION INDIA LIMITED
Country of Origin : India
Legal Form : Branch of a Foreign Registered Corporation
Registration Date : 26th August 2007
Trade Licence Number : 7839
Chamber Membership Number : 123114
Total Workforce : 30
Activities : Provision of automation and control solutions,
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
HONEYWELL
AUTOMATION INDIA LIMITED
Registered & Physical
Address
Street : Sheikh Zayed Road
Area : Jebel Ali Free Zone
PO Box : 17713 & 262263
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 8068600
Facsimile : (971-4) 8863797
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Jebel
Ali Free Zone.
Name Position
·
Jayant
Dhirnindar Managing
Director
·
Manik
Goel Marketing
Manager
Date of Establishment : 26th
August 2007
Legal Form :
Subject is the United Arab
Emirates registered branch of Honeywell Automation India
Limited, a Limited Liability Company incorporated in India
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
India.
Trade Licence No. : 7839
(Expires 14/04/2013)
Chamber Member No. : 123114
Activities: Engaged in the provision of automation and
control solutions.
Import
Countries: India
Subject has a workforce
of 30 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.
·
Habib
Bank Ltd
Trade Service Centre
Murshid Bazaar
PO Box: 888
Dubai
Tel: (971-4) 2221281
Fax: (971-4) 2284631
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.61.16 |
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UK Pound |
1 |
Rs.97.77 |
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Euro |
1 |
Rs.82.78 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIS |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.