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Report Date : |
17.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
ESSAR PROJECTS
LIMITED |
|
|
|
|
Registered Office : |
LOB 16, Office
No. 124, Jebel Ali Free Zone, P O Box: 261253, |
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Country : |
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Date of Incorporation : |
04.04.2006 |
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Legal Form : |
Offshore Limited Liability Company |
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|
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Line of Business : |
Subject is
engaged as EPC Contractors. |
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|
|
No. of Employees : |
5 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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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 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
|
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
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 : ESSAR
PROJECTS LIMITED
Country of Origin :
Legal Form : Offshore
Limited Liability Company
Registration Date : 4th
April 2006
Trade Licence
Number : 2038
Issued Capital : UAE Dh
100,000
Paid up Capital : UAE Dh
100,000
Total Workforce : 5
Activities :
EPC contractors
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed : Rajesh Ganag,
General Manager
ESSAR PROJECTS
LIMITED
Building : LOB 16, Office No. 124
Area : Jebel Ali Free Zone
PO Box : 261253
Town :
Country : United Arab Emirates
Telephone : (971-4) 3649019
Facsimile : (971-4) 3649099
Email : rajesh.gang@essar.com
Please note that subject’s
previous address was, Building No. 4, Office No. 508,
Subject operates
from a small suite of offices that are rented and located in the Jebel Ali Free
Zone Area of Dubai.
Name Position
·
Rajesh
Ganag General
Manager
Date of Establishment : 4th
April 2006
Legal Form :
Offshore Limited Liability
Company
Trade Licence No. : 2038
Issued Capital : UAE Dh 100,000
Paid up Capital : UAE Dh 100,000
·
Essar Ltd
Essar House
11 Keshavrao Khadye Marg
Mahalaxmi
Mumbai - 400 034
Tel: (91-22) 50011100 / 66601100
Fax: (91-22) 66601809
·
Essar
Projects Ltd
Hamriyah Free Zone
PO Box: 41776
Sharjah
Tel: (971-6) 5260619
Fax: (971-6) 5260018 / 5737529
Activities: Engaged as EPC contractors.
Subject has a
workforce of 5 employees.
Companies
registered in
·
Commercial
Bank of
Deira
PO Box: 1709
Tel: (971-4) 2227121 / 2253222
Fax: (971-4) 2220943 / 2254565
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.63.41 |
|
|
1 |
Rs.99.30 |
|
Euro |
1 |
Rs.79.00 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
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.