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Report No. : |
355732 |
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Report Date : |
22.12.2015 |
IDENTIFICATION DETAILS
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Name : |
PREMIER COMPOSITE TECHNOLOGIES LLC |
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Registered Office : |
Dubai Investments Park, Jebel Ali Free Zone, 282777, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
29.05.2006 |
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Legal Form : |
Limited
Liability Company - LLC |
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Line of Business : |
Subject engaged in the manufacture of
advanced composite components for architectural design, transportation and
boat building. |
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No. of Employee : |
1,600 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
United Arab Emirates |
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 |
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 of 2008, 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 economic diversification and creating more job opportunities for nationals through improved education and increased private sector employment.
|
Source
: CIA |
Company Name :
PREMIER COMPOSITE TECHNOLOGIES LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 29th May 2006
Commercial Registration Number : 81145, Dubai
Trade Licence Number : 581923
Chamber Membership Number : 116360
Issued Capital : UAE Dh 25,000,000
Paid up Capital : UAE Dh 25,000,000
Total Workforce : 1,600
Activities : Manufacturers of advanced composite components.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
PREMIER COMPOSITE TECHNOLOGIES LLC
Location : Dubai
Investments Park, Jebel Ali Free Zone
PO Box : 282777
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 8868555
Facsimile : (971-4)
8868500
Mobile : (971-50) 8800201 / 4405577
Email : info@premiercompositetechnologies.com
Subject operates from a large suite of offices that are rented and located
in the Central Business Area of Dubai.
Name Nationality Position
· Johanz Waimer German Managing Director
· Podu Rash German Director
· Sultan Mohamed Ali
Al Qortasi Al Nuaimi Emirati Director
Date of
Establishment : 29th
May 2006
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 81145, Dubai
Trade Licence No. : 581923 (Expires 28/05/2016)
Chamber Member No. : 116360
Issued Capital : UAE Dh 25,000,000
Paid up Capital : UAE Dh 25,000,000
· Sultan Mohamed Ali
Al Qortasi Al Nuaimi 35%
· Bin Laden Trading
Company LLC 30%
· Johanz Waimer 18%
· Podu Rash 17%
Activities: Engaged in the manufacture
of advanced composite components for architectural design, transportation and
boat building.
Import Countries: Europe and GCC countries
Subject has a workforce of approximately 1,600 employees.
Companies registered in Dubai are not legally required to make their
accounts public and no financial information was released by the company or
submitted by outside sources.
·
HSBC Bank Middle East
Deira Souk Branch
PO Box:
66
Dubai
Tel:
(971-4) 2535000
No complaints regarding subject’s payments have been reported.
Local sources report that the subject’s operating history is clear with
payment obligations met in a generally timely manner. The financial position is
satisfactory and the company is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.32 |
|
|
1 |
Rs.98.99 |
|
Euro |
1 |
Rs.72.13 |
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DH |
1 |
Rs.18.05 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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|
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Report Prepared
by : |
TRU |
RATING EXPLANATIONS
|
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 |
|
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.