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Report No. : |
345164 |
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Report Date : |
15.10.2015 |
IDENTIFICATION DETAILS
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Name : |
TRIBURG INVESTMENTS LIMITED |
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Registered Office : |
Plot No. MO 0119, Jebel Ali Free Zone, PO Box 16939, Dubai |
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Country : |
United
Arab Emirates |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
13.02.2008 |
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Legal Form : |
Branch of a Foreign Registered Corporation |
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Line of Business : |
Engaged in the import and distribution of general dried foodstuffs and
readymade garments. |
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No. of Employees : |
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 : |
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 |
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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.
|
Source
: CIA |
Company Name :
TRIBURG INVESTMENTS LIMITED
Country of Origin :
British Virgin Islands
Legal Form :
Branch of a Foreign Registered Corporation
Registration Date :
13th February 2008
Trade Licence Number :
103448
Chamber Membership Number :
37040
Total Workforce :
35
Activities :
Distributors of general dried foodstuffs and readymade garments.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
James Lobbo, Accountant
TRIBURG INVESTMENTS LIMITED
Registered &
Physical Address
Location : Plot No. MO
0119, Jebel Ali Free Zone
PO Box : 16939
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 8815025
/ 8815024
Facsimile : (971-4)
8815422 / 8815026
Mobile : (971-50)
6590084
Email : nozer@triburg.com
Premises
Subject operates from a medium sized suite of offices and a warehouse
that are rented and located in the Jebel Ali Free Zone Area of Dubai.
Name Nationality Position
Bala Malia Indian Managing Director
Nozer Sadawala - Finance
Manager
James Lobbo - Accountant
Date of Establishment : 13th
February 2008
Legal Form : Subject is the
United Arab Emirates registered branch of Triburg Investments Limited, a
Limited Liability
Company incorporated in the British Virgin Islands.
Triburg Investments Limited in the United
Arab Emirates, 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 the British Virgin
Islands.
Trade Licence No. : 103448 (Expires
14/02/2016)
Chamber Member No. : 37040
Triburg Trade Ltd
PO Box: 16939
Dubai
Tel: (971-4) 8839744
Fax: (971-4) 8818126
Triburg Trading Service LLC
Dubai
Triburg Food & Services Beverage
General Trading LLC
Dubai
Activities: Engaged in the import and distribution of general dried foodstuffs and
readymade garments.
Import Countries: Europe and the Far East.
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 39,600,000 UAE Dh
42,000,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr James Lobbo, Accountant
Standard Chartered Bank
Khalid Bin Waleed Street
PO Box: 999
Dubai
Tel: (971-4) 2520455
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.65.11 |
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|
1 |
Rs.99.50 |
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Euro |
1 |
Rs.74.24 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
TPT |
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.