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Report No. : |
317395 |
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Report Date : |
15.04.2015 |
IDENTIFICATION DETAILS
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Name : |
PAN ASIA RESOURCES DMCC |
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Registered Office : |
1702, Gold Crest
Executive Tower Cluster (C), Jumeirah Lakes Towers, PO Box: 128963 Dubai |
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Country : |
United Arab Emirates |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
26.06.2013 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Distributors of coal and minerals |
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No. of Employee : |
6 |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
United Arab Emirates |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
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. 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 and
ultimately a $20 billion bailout from the UAE Central Bank and Abu
Dhabi-emirate government that was refinanced in March 2014. Dependence on oil,
a large expatriate workforce, and growing inflation pressures are significant
long-term challenges. The UAE's strategic plan for the next few years focuses
on diversification and creating more opportunities for nationals through
improved education and increased private sector employment.
|
Source
: CIA |
Company Name :
PAN ASIA RESOURCES DMCC
Country of Origin :
Dubai, United Arab Emirates
Legal Form :
Limited Liability Company
Registration Date :
26th June 2013
DMCC Number :
4213
Trade Licence Number :
33195
Issued Capital :
US$ 500,000
Paid up Capital :
US$ 500,000
Total Workforce :
6
Activities :
Distributors of coal and minerals
Financial Condition :
Good
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Madhu Kumar Kapoor, Finance Manager
PAN ASIA RESOURCES DMCC
Registered &
Physical Address
Location : 1702, Gold Crest Executive Tower Cluster (C),
Jumeirah Lakes Towers
PO Box : 128963
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 2766509
Mobile : (971-52)
6185555 / (91-986) 7906875
Email : shahcoal@live.com
Please note that subject’s previous address was, Unit No. 30-01-1212, 1st
Floor, Building No. 12, Plot No. 550-554, J & G, DMCC, Dubai.
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Dubai.
Name Position
Shandeep Balchandani Managing
Director
Kunal Shah Director
Madhu Kumar Kapoor Finance
Manager
Date of Establishment : 26th
June 2013
Legal Form : Limited Liability
Company
DMCC No. : 4213
Trade Licence No. : 33195 (Expires 07/07/2015)
Issued Capital : US$ 500,000
Paid up Capital : US$ 500,000
Name of
Shareholder (s) Percentage
Shah Coal Pvt Ltd 100%
Mumbai
India
Tel: (91-22) 26051945 / 26051888
Fax: (91-22) 26052448
Activities: Engaged in the import and distribution of coal and minerals.
Import Countries: India, Indonesia, South Africa, Australia and the United
States of America.
International
Suppliers:
Pt Bara Jaya Utama
Ltd Indonesia
Pt Polindo Patam
Citra Indonesia
IMR Metallurgical
Resources AG Switzerland
Suek AG United
States of America
Oekely Creek New
Zealand
Operating Trend: Steady
Subject has a workforce of 6 employees.
Financial highlights provided by local sources are given below:
Currency: United States Dollars (US$)
Year Ending 31/12/14:
Total Sales US$
400,000,000
Local sources consider subject’s financial condition to be Good.
The above figures were provided by Mr Madhu Kumar Kapoor, Finance
Manager
Emirates National Bank of Dubai
Baniyas Street
PO Box: 777
Dubai
Tel: (971-4) 2222555
Fax: (971-4) 2221110
Union Bank of India
PO Box: 115584
Dubai
Tel: (971-4) 3887200
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.62.39 |
|
|
1 |
Rs.91.06 |
|
Euro |
1 |
Rs.66.16 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
SDA |
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 |
-- |
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.