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Report No. : |
326696 |
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Report Date : |
19.06.2015 |
IDENTIFICATION DETAILS
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Name : |
CHEM CROWN
INTERNATIONAL LTD (LLC) |
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Registered Office : |
Plot No. B 1018 Ras Al Khor Road Ras Al Khor Industrial Area 52162 Dubai |
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Country : |
United Arab
Emirates |
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Date of Incorporation : |
04.07.1993 |
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Com. Reg. No.: |
41007, Dubai |
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Legal Form : |
Limited Liability
Company - LLC |
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Line of Business : |
Engaged in the manufacture
of detergents and disinfectants, cosmetics and perfumes. |
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No. of Employee : |
35 |
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 – 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 |
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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 : CHEM
CROWN INTERNATIONAL LTD (LLC)
Country of Origin : Dubai,
United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date : 4th
July 1993
Commercial
Registration Number : 41007, Dubai
Trade Licence
Number : 300742
Chamber Membership
Number : 27674
Issued Capital : UAE Dh
300,000
Paid up Capital : UAE Dh
300,000
Total Workforce : 35
Activities :
Manufacturers of detergents and disinfectants, cosmetics and perfumes.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Mathew Thomas,
Financial Controller
CHEM CROWN
INTERNATIONAL LTD (LLC)
Building : Plot No. B 1018
Street : Ras Al Khor Road
Area : Ras Al Khor Industrial Area
PO Box : 52162
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3332605 / 3332601
Facsimile : (971-4) 3332367
Mobile : (971-50) 4523790 / (971-55) 1035452
Email : gpscil9@yahoo.com
Subject operates
from a medium sized suite of offices and a factory that are rented and located in
the Industrial Area of Dubai.
Name Nationality Position
·
Shah
Gautam Pramod Chandra Indian Managing
Director
·
Ali
Salim Ali Buzaber Al Mehairi Emirati Director
·
Mathew
Thomas - Financial
Controller
·
Arnav
Shah - Finance
Manager
Date of Establishment : 4th
July 1993
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 41007, Dubai
Trade Licence No. : 300742
(Expires 27/06/2016)
Chamber Member No. : 27674
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
·
Ali
Salim Ali Buzaber Al Mehairi 51%
·
Shah
Gautam Pramod Chandra 49%
Activities: Engaged in the manufacture of detergents and
disinfectants, cosmetics and perfumes.
Import
Countries: India, China and
Europe.
International
Suppliers:
·
Pragati Glass Works India
· Petrochem Dubai
Brand Names: CROWN and FORUM
Operating Trend: Steady
Subject has a
workforce of 35 employees.
Financial
highlights provided by local sources are given below:
Currency: United
Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/13: Year Ending
31/12/14:
Total Sales UAE Dh 28,365,000 UAE Dh 30,000,000
Local sources consider
subject’s financial condition to be Fair.
The above figures
were provided by Mr Mathew Thomas, Financial Controller
·
Emirates
National Bank of Dubai
Baniyas Street
PO Box: 777
Dubai
Tel: (971-4) 2222241
No complaints
regarding subject’s payments have been reported.
In August 2012
subject premises were partially destroyed by fire.
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.63.85 |
|
|
1 |
Rs.100.99 |
|
Euro |
1 |
Rs.72.46 |
INFORMATION DETAILS
|
Analysis Done by
: |
SAN |
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|
|
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Report Prepared
by : |
ANK |
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 |
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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 |
|
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.