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Report No. : |
329227 |
|
Report Date : |
01.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
ORIENT EXPRESS LINES INC |
|
|
|
|
Registered Office : |
Jebel Ali Free Zone, South, Plot No. S20119, PO Box : 261844 &
8458, Dubai |
|
|
|
|
Country : |
United Arab Emirates |
|
|
|
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Date of Incorporation : |
12.03.1997 |
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|
|
|
Legal Form : |
Branch of a
Foreign Registered Corporation |
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|
|
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Line of Business : |
Subject is engaged as owners and operators of ships and vessels. |
|
|
|
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No. of Employee : |
20 |
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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|
|
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Payment Behaviour : |
Unknown |
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|
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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 |
|
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. 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 : ORIENT
EXPRESS LINES INC
Country of Origin : Panama
Legal Form :
Branch of a Foreign Registered Corporation
Registration Date : 12th March
1997
Trade Licence Number : 130220
Total Workforce : 20
Activities :
Owners and operators of ships and vessels
Financial Condition : Undetermined
Payments :
Unknown
ORIENT EXPRESS
LINES INC
Location : Jebel Ali Free Zone, South, Plot
No. S20119
PO Box : 261844 &
8458
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 3379858
/ 8035550 / 8035700
Facsimile : (971-4)
3379858 / 8860090
Mobile : (971-50)
6255139
Email : ram.tsl@transworld.com
Subject operates from a small suite of offices that are rented and located
in the Jebel Ali Free Zone Area of Dubai.
Name Position
· Leonard Culas Managing
Director
· Capt Lesley Reis Chief
Executive Officer
· Ram Shiva Krishnan
Bala Subramanian Operations
Manager
· Sanjit Roy Human
Resources Manager
· Subramanian
Jagdish Finance
Manager
Date of
Establishment : 12th
March 1997
Legal Form : Subject is the
Dubai registered branch of Orient Express Lines Inc, a Limited Liability
Company incorporated
in Panama.
Orient Express Lines Inc in Dubai, operates as a Branch of a Foreign
Registered
Corporation.
A Branch
of a Foreign Registered Corporation is not a legal entity in its own
right. Responsibility for payments lays in the hands of the company
where it is
originally registered.
Under these circumstances, we strongly advise that any international
trade
credit should only be written under the name of the main company where
the
subject holds its registered office, in this case Panama.
Trade Licence No. : 130220 (Expires
11/03/2016)
· Orients Express
Line FZCO
Jebel Ali Free
Zone
Dubai
· Transworld Shipping
& Logistics LLC
Dubai
Activities: Engaged as owners and operators of ships and vessels.
Subject has a workforce of 20 employees.
Companies registered in Dubai, 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.
·
HSBC Bank Middle East
Deira Souk Branch
PO Box:
66
Dubai
Tel:
(971-4) 2535000
Unknown.
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.63.75 |
|
|
1 |
Rs.100.12 |
|
Euro |
1 |
Rs.71.20 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ASH |
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.