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Report No. : |
343722 |
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Report Date : |
08.10.2015 |
IDENTIFICATION DETAILS
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Name : |
BUILD WELL TRADING CO LLC |
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Registered Office : |
Al Awir Road, Ras Al Khor
Industrial Area No. 3, PO Box : 43346, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
09.05.1998 |
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Com. Reg. No.: |
51009, Dubai |
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Legal Form : |
Limited
Liability Company - LLC |
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Line of Business : |
Subject is engaged in the import and distribution of steel products
for construction and fabrication, specializing in pipes, tubes and structural
steel. |
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No. of Employee : |
18 |
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 |
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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.
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Source
: CIA |
Company Name :
BUILD WELL TRADING CO LLC
Country of Origin :
Dubai, United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date :
9th May 1998
Commercial Registration Number :
51009, Dubai
Trade Licence Number :
505257
Chamber Membership Number :
49327
Issued Capital :
UAE Dh 300,000
Paid up Capital :
UAE Dh 300,000
Total Workforce : 18
Activities :
Distributors of steel and steel products.
Financial Condition :
Fair
Payments :
No Complaints
Operating Trend :
Steady
Person Interviewed :
Subash Chandaran, Financial Controller
BUILD WELL TRADING
CO LLC
Street : Al Awir Road
Area : Ras Al Khor
Industrial Area No. 3
PO Box : 43346
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3336968
Facsimile : (971-4)
3336850
Mobile : (971-50)
6582710
Email : info@buildwelltrading.com / buildwell@emirates.net.ae / buildingtrading@gmail.com
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Industrial Area of Dubai.
Branch Office (s)
Location Description
· Umm Al Quwain Warehouse
premises
Name Nationality Position
· Shewakramani Dayal
Udharam Indian Managing Director
· Khattar Ravi Kumar Indian Director
· Omar Ali Mohamed
Ali Alulla Emirati Director
· Subash Chandaran - Financial
Controller
· Sheikh Katar - Sales Manager
Date of
Establishment : 9th
May 1998
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 51009, Dubai
Trade Licence No. : 505257
Chamber Member No. : 49327
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
· Omar Ali Mohamed
Ali Alulla 51%
· Khattar Ravi Kumar 25%
· Shewakramani Dayal
Udharam 24%
Activities: Engaged in the import and distribution of steel products for construction
and fabrication, specializing in
pipes, tubes and structural steel.
Import Countries: China, India, Oman and Ukraine.
International Suppliers:
· Surya Roshni India
· Al Jazeera Oman
· Interpipe Ukraine
· Kaj India
· Pajaria Manhole India
· Swasatk Pipe India
· Hebei China
· Thianyu Pipe Manufacturing China
Operating Trend: Steady
Subject has a workforce of 18 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 24,800,000 UAE Dh 26,000,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Subash Chandaran, Financial
Controller
·
HSBC Bank Middle East
Deira Souk Branch
PO Box:
66
Dubai
Tel:
(971-4) 2535000
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.65.26 |
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|
1 |
Rs.99.53 |
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Euro |
1 |
Rs.73.47 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
ASH |
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 |
-- |
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.