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Report Date : |
03.01.2015 |
IDENTIFICATION DETAILS
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Name : |
TRIMEX INTERNATIONAL FZE |
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Registered Office : |
LOB No. 7, Office
No. 27, Sheikh Zayed Road, Jebel Ali Free Zone, 17056 Dubai |
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Country : |
United Arab Emirates |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
28.05.1995 |
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Legal Form : |
Free Zone Establishment |
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Line of Business : |
Engaged in the processing of Minerals, Marble, Stone
and Gravel. |
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No. of Employees : |
4 |
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 |
|
Status : |
Good |
|
Payment Behaviour : |
Regular |
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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) |
|
United Arab Emirates |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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 : TRIMEX
INTERNATIONAL FZE
Country of Origin : Dubai,
United Arab Emirates
Legal Form :
Free Zone Establishment - FZE
Registration Date : 28th
May 1995
Trade Licence
Number : 7176
Chamber Membership
Number : 125774
Issued Capital : UAE Dh
1,000,000
Paid up Capital : UAE Dh
1,000,000
Total Workforce : 4
Activities :
Processors of minerals.
Financial Condition : Good
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Venkat Raman, Accounts Manager
TRIMEX
INTERNATIONAL FZE
Registered Address
Building : LOB No. 7, Office No.
27
Street : Sheikh Zayed Road
Area : Jebel Ali Free Zone
PO Box : 17056
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 8835544
Facsimile : (971-4) 8836410
Email : trimex@emirates.net.ae / frontdesk@trimexgroup.com / nasir.m@trimexgroup.com
Physical Address
Building : 1701, Boulevard Plaza
No 1, 17th Floor
Area : Emaar Square
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 4494300
Facsimile : (971-4) 4309092
Please note that
subject’s previous address was, Gold Tower, 34th Floor, Jumeirah
Lakes Towers, Dubai.
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Dubai.
Name Nationality Position
·
Madhu
Koneru Indian Managing
Director
·
Prasad
R Koneru Indian Director
·
Swaminathan
Gopalan - General
Manager
·
K S
Bala - Financial
Controller
·
Venkat Raman - Accounts
Manager
·
Abdulaziz
Shejoy - Administration
Manager
Date of Establishment : 28th
May 1995
Legal Form :
Free Zone Establishment -
FZE
Trade Licence No. : 7176
Chamber Member No. : 125774
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
·
Trimex
Ltd 100%
Bahamas
·
Trimex
Commodities DMCC
Gold Tower, 34th Floor
Jumeirah Lakes Towers
Dubai
Tel: (971-4) 4308844 / 4494300
Fax: (971-4) 4309092
DMCC No. 31195
Activities: Engaged in the processing of minerals,
marble, stone and gravel.
Import
Countries: India
Operating Trend: Steady
Subject has a
workforce of 4 employees.
Financial
highlights provided by local sources are given below:
Currency: United
Arab Emirates Dirham (UAE Dh)
Year
Ending 31/03/13: Year Ending
31/03/14:
Total Sales UAE Dh
583,610,000 UAE Dh
770,500,000
Local sources consider
subject’s financial condition to be Good.
The above figures
were provided by Mr Venkat Raman,
Accounts Manager
·
ABN
Amro Bank
Deira Branch
PO Box: 2567
Dubai
Tel: (971-4) 3512200
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.63.29 |
|
|
1 |
Rs.98.39 |
|
Euro |
1 |
Rs.76.31 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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 |
|
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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 |
|
|
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.