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Report No. : |
350272 |
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Report Date : |
18.11.2015 |
IDENTIFICATION DETAILS
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Name : |
TERUMO
CORPORATION |
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Registered Office : |
Al |
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Country : |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
12.06.1993 |
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Com. Reg. No.: |
40965, |
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Legal Form : |
Branch of a Foreign Registered Corporation |
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Line of Business : |
Import and
Distribution of Medical Products, Surgical Instruments and Laboratory
Equipment. |
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No. of Employees : |
42 |
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 : |
Branch of a
Foreign Registered Corporation |
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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 |
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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 :
TERUMO CORPORATION
Country of Origin : Japan
Legal Form :
Branch of a Foreign Registered Corporation
Registration Date : 12th
June 1993
Commercial
Registration Number : 40965,
Dubai
Trade Licence
Number : 231172
Chamber Membership
Number : 27367
Issued Capital : UAE Dh
250,000
Paid up Capital : UAE Dh
250,000
Total Workforce : 42
Activities :
Distributors of medical products, surgical instruments and laboratory
equipment.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Siva
Subramanian, Finance Manager
TERUMO CORPORATION
Building : Al Masraf Tower, 22nd
Floor
Street : Baniyas Road
Area : Al Rigga Area, Deira
PO Box : 20291
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2212220
Facsimile : (971-4) 2213330
Mobile : (971-56) 1746036
Email : administrator@terumo-dubai.co.ae
/ toshiyuki_tsubouchi@terumo.co.jp
/ siva@terumo.db.ae
Subject operates
from a small suite of offices that are rented and located in the Central Business
Area of Dubai.
Name Position
·
Yousef
Al Kamlichi General
Manager
·
Siva
Subramanian Finance
Manager
·
Christina
Rozales Marketing
Manager
·
Toshiyuki
Tsubouochi Administration
Manager
Date of Establishment : 12th
June 1993
Legal Form :
Subject is the United Arab
Emirates registered branch of Terumo Corporation, a Limited
Liability Company incorporated in Japan.
Terumo Corporation in the United
Arab Emirates, operates as a Branch of a Foreign
Registered Corporation
with its registered office located at the following address:
Terumo Corporation
44-1, 2-Chome, Hatagaya
Shibuya-ku
Tokyo 151-0072
Japan
Tel: (81-3) 33748111
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 Japan.
Commercial Reg. No. : 40965, Dubai
Trade Licence No. : 231172
Chamber Member No. : 27367
Issued Capital : UAE Dh 250,000
Paid up Capital : UAE Dh 250,000
Activities: Engaged in the import and distribution of
medical products, surgical instruments and laboratory equipment.
Subject is
responsible for the marketing of Terumo products in Middle East and African
countries. TCDB sells a wide range of quality products such as angiography,
interventional cardiology, cardiovascularsurgery, vascular grafts, general
hospital products, infusion therapy, injection and diabetes products.
Import
Countries: Europe and
Japan.
Operating Trend: Steady
Subject has a
workforce of 42 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 55,000,000 UAE Dh 57,840,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Siva Subramanian, Finance Manager
·
Standard
Chartered Bank
Khalid Bin Waleed Street
PO Box: 999
Dubai
Tel: (971-4) 2520455
·
Emirates
National Bank of Dubai
Baniyas Street
PO Box: 777
Dubai
Tel: (971-4) 2222241
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.65.98 |
|
|
1 |
Rs.100.11 |
|
Euro |
1 |
Rs.70.35 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
NIT |
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 |
-- |
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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.