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Report Date : |
19.08.2014 |
IDENTIFICATION DETAILS
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Name : |
PERMA PIPE MIDDLE |
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Registered Office : |
Fujairah Free Zone, Phase |
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Country : |
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Date of Incorporation : |
12.06.2005 |
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Legal Form : |
Free Zone Company - FZC |
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Line of Business : |
Subject is engaged in the manufacture of insulating and jacketing
pipes |
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No. of Employees |
120 |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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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 |
UAE 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 :
PERMA PIPE MIDDLE
Country of Origin :
Legal Form : Free Zone Company - FZC
Registration Date : 12th June 2005
Trade Licence Number : 1638
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Total Workforce : 120
Activities : Manufacturers of insulating and jacketing pipes.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed :
A
PERMA PIPE MIDDLE
Location :
PO Box : 4988
Town :
Country :
Telephone : (971-4) 6072000
Facsimile : (971-4)
6072099
Email : contactus@permapipe.ae
Subject operates from a suite of offices and a factory on a 10-acre site
that are rented and located in the Fujairah Free Zone.
Branch Offices
Location Description
· Saif Zone Office
premises
Sharjah
Tel: (971-6)
5573338
Name Position
· Avin Gidwani President
· Sayed Fati Ahmed
Al Jondi Managing
Director
· Sayed Anan Chandro
Jedwani General
Manager
· A
· Sorren Kajaer Technical
Manager
· Prasad Menon Accounts
Manager
· Dimple Dulega Human
Resources Manager
Date of
Establishment : 12th
June 2005
Legal Form : Free Zone Company
- FZC
Trade Licence No. : 1638,
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
· MFRI Holding BVI
Ltd 99%
· Perma Pipe
International 1%
Tel: (1-847) 966-2235
Activities: Engaged in the manufacture of insulating and jacketing pipes ranging
from 2" up to 72" in diameter. The company has the capacity to
insulate and jacket over 2 km of pipe per day.
Import Countries:
Subject has a workforce of approximately 120 employees.
Companies registered in
·
National Bank of
PO Box: 887
Tel: (971-9) 2224518 / 2224513
Fax: (971-9) 2224516 / 2229470
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.61.06 |
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|
1 |
Rs.101.84 |
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Euro |
1 |
Rs.81.56 |
INFORMATION DETAILS
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Analysis Done by
: |
SUM |
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Report Prepared
by : |
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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 |
|
|
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 |
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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.