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Report Date : |
23.10.2013 |
IDENTIFICATION DETAILS
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Name : |
HONEYWELL
AUTOMATION INDIA LIMITED |
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Registered Office : |
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Country : |
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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 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Branch of a Foreign Registered Corporation |
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Payment Behaviour : |
Slow but correct |
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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) |
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A2 |
A2 |
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Risk Category |
ECGC
Classification |
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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
Source
: CIA
Company Name : HONEYWELL
AUTOMATION INDIA LIMITED
Country of Origin :
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
Street :
Area : Jebel Ali Free Zone
PO Box : 17713 & 262263
Town :
Country :
Telephone : (971-4) 8068600
Facsimile : (971-4) 8863797
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
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
Trade Licence No. : 7839
Chamber Member No. : 123114
Activities: Engaged in the provision of automation and
control solutions.
Import
Countries:
Subject has a
workforce of 30 employees.
Companies registered
in
·
Habib
Bank Ltd
Trade Service Centre
Murshid Bazaar
PO Box: 888
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
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Indian Rupees |
|
US Dollar |
1 |
Rs.61.78 |
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|
1 |
Rs.99.66 |
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Euro |
1 |
Rs.84.49 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
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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.