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Report Date : |
19.03.2014 |
IDENTIFICATION DETAILS
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Name : |
PTAL INTERNATIONAL FZC |
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|
|
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Registered Office : |
King Faisal Road,
P O Box 5227, Umm Al Quwain |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
06.04.2004 |
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Legal Form : |
Free Zone Company |
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Line of Business : |
Engaged in the
manufacturing of chemicals, including sodium silicate, caustic soda, citric
acid, calcium chloride, glycerine, pine oil, quartz powder , soda ash light
/dense, sodium hypochlorite, sodium sulphate, STPP, SLES, sodium
bi-carbonate, SHMP and zeolite. |
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|
|
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No. of Employees |
25 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
United Arab
Emirates |
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 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. 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 : PTAL INTERNATIONAL FZC
Country of Origin : Umm Al Quwain, United Arab Emirates
Legal Form : Free Zone Company - FZC
Registration Date : 6th April 2004
Trade Licence Number : 033
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Total Workforce : 25
Activities : Manufacturers of chemicals
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
PTAL INTERNATIONAL
FZC
Registered &
Physical Address
Location : King Faisal Road
PO Box : 5227
Town : Umm Al Quwain
Country : United Arab Emirates
Telephone : (971-6) 7650302
Facsimile : (971-6) 7650363
Mobile : (971-50) 1628755
Email : sujeet@kiranglobal.com
Premises
Subject operates
from a medium sized suite of offices and a factory that are rented and located
in the Central Business Area of Umm Al Quwain.
Name Position
·
Sujeet
Shirdharan General
Manager
·
Nayek
Nitin Shah Commercial
Manager
·
Hamroosh
Santhosh Finance
Manager
Date of Establishment : 6th
April 2004
Legal Form :
Free Zone Company - FZC
Trade Licence No. : 033
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Name of Shareholder
(s) Percentage
·
Kiran
Global Ltd 100%
India
Activities: Engaged in the manufacture of chemicals,
including sodium silicate, caustic soda, citric acid, calcium
chloride, glycerine, pine oil, quartz powder , soda ash light /dense,
sodium hypochlorite, sodium sulphate,
STPP, SLES, sodium bi-carbonate, SHMP and zeolite.
Import
Countries: Europe and GCC
countries.
Subject has a
workforce of 25 employees.
Companies
registered in Umm Al Quwain, 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.
·
Standard
Chartered Bank
Al Boorj Avenue
PO Box: 5
Sharjah
Tel: (971-6) 5357788
Fax: (971-6) 5543604
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.60.95 |
|
|
1 |
Rs.101.37 |
|
Euro |
1 |
Rs.84.89 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.