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Report Date : |
26.10.2013 |
IDENTIFICATION DETAILS
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Name : |
EURO PETROLEUM
PRODUCTS CO LLC |
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Registered Office : |
Port Saeed |
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Country : |
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Date of Incorporation : |
09.09.2012 |
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Com. Reg. No.: |
1101510, |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Distributors of
Refined Oil Products |
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No. of Employees : |
03 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
-- |
NB |
New Business |
-- |
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Status : |
New business |
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Payment Behaviour : |
Unknown |
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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 : EURO
PETROLEUM PRODUCTS CO LLC
Country of Origin :
Legal Form :
Limited Liability Company - LLC
Registration Date : 9th
September 2012
Commercial
Registration Number : 1101510,
Trade Licence
Number : 675965
Chamber Membership
Number : 209555
Issued Capital : UAE Dh
300,000
Paid up Capital : UAE Dh
300,000
Total Workforce : 3
Activities :
Distributors of refined oil products
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
EURO PETROLEUM
PRODUCTS CO LLC
Location : Port Saeed
PO Box : 95031
Town :
Country :
Telephone : (971-4) 7436332
Facsimile : (971-4) 7436332
Email : faizal@eurolube.ae
Subject operates from
a small suite of offices that are rented and located in the Central Business
Area of Dubai.
Name Nationality Position
·
Faizal
Patel British Managing
Director
·
Saeed
Mohamed Abu Baker Bin Jouhar Al Ameri Emirati Director
Date of Establishment : 9th
September 2012
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 1101510,
Trade Licence No. : 675965
(Expires 08/09/2014)
Chamber Member No. : 209555
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
·
Saeed
Mohamed Abu Baker Bin Jouhar Al Ameri 51%
·
Faizal
Patel 49%
Activities: Engaged in the import and distribution of
refined oil products.
Import
Countries: Europe and the
Subject has a
workforce of 3 employees.
Subject is a newly
formed business and as a result financial information is not currently
available.
·
Union
National Bank
PO Box: 6811
Tel: (971-4) 2211188
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.61.63 |
|
|
1 |
Rs.99.94 |
|
Euro |
1 |
Rs.84.14 |
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.