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Report No. : |
345623 |
|
Report Date : |
20.10.2015 |
IDENTIFICATION DETAILS
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Name : |
ABC CHEMICAL
EXPORTS PVT LTD |
|
|
|
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Registered Office : |
Saif Zone, P O Box: 8330, Sharjah |
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|
|
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Country : |
United Arab Emirates |
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|
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Date of Incorporation : |
24.06.2001 |
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Legal Form : |
Branch of a Foreign Registered Corporation |
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|
|
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Line of Business : |
Import and Export
of Chemicals,
Chemical Raw Materials and Dyeing Materials. |
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|
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No. of Employees : |
3 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
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 |
|
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 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 : ABC
CHEMICAL EXPORTS PVT LTD
Country of Origin : India
Legal Form :
Branch of a Foreign Registered Corporation
Registration Date : 24th
June 2001
Trade Licence
Number : 1003
Total Workforce : 3
Activities :
Import and export of chemicals, chemical raw materials and dyeing
materials
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed : B Manju, Sales
Executive
ABC CHEMICAL
EXPORTS PVT LTD
Location :
Saif Zone
PO Box : 8330
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 5579612 / 5579613
Facsimile : (971-6) 5579614
Email : uae@abcchemical.com
Subject operates from
a small suite of offices and a warehouse that are rented and located in the
Saif Zone Area of Sharjah.
Name Position
·
Venay Heru Managing
Director
·
B Manju Sales
Executive
Date of Establishment : 24th
June 2001
Legal Form :
Subject is the United Arab
Emirates registered branch of ABC Chemicals Export Pvt Ltd, a
Limited Liability Company incorporated in
India.
ABC Chemicals Export Pvt Ltd in
the United Arab Emirates, operates as a Branch of a
Foreign Registered
Corporation with its registered office located at the following address:
ABC Chemicals Export Pvt Ltd
104 Damji Shamji Udyog Bhawan
Veera Desai Road
Andheri
Mumbai 400 053
India
Tel: (91-22) 67292100
Fax: (91-22) 26734896
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 India.
Trade Licence No. : 1003
·
ABC
Chemical (China)
3F Wanzhong Building No. 1303
Yan’an Road
Shanghai
China
Tel: (8621) 52174268
Fax: (8621) 62384921
·
ABC
Chemical (USA)
333 Jackson Avenue, Suite No. 4
Syosset
NY 11791
United States of America
Tel: (1-516) 5131611
Fax: (1-516) 5199028
·
ABC
Chemical (Egypt)
603 El Horiyah Road, 3rd Floor,
Apartment No. 24
Alexandria
Egypt
Tel: (20-3) 5769667
·
ABC
Chemical (Thailand)
Q House Lumpini Building
1 South Santhorn Road
Level 27, Tungmahamek
Sathorn
Bangkok 10120
Thailand
Tel: (66) 23103646
Fax: (66) 26103601
Activities: Engaged in the import and export of chemicals,
chemical raw materials and dyeing materials.
Import
Countries: Europe and the
Far East.
Subject has a
workforce of 3 employees.
Companies
registered in Sharjah, 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.
·
Sharjah
Islamic Bank
Al Boorj Avenue
PO Box: 4
Sharjah
Tel: (971-6) 5547747
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.64.82 |
|
|
1 |
Rs.100.12 |
|
Euro |
1 |
Rs.73.75 |
INFORMATION DETAILS
|
Analysis Done by
: |
HEE |
|
|
|
|
Report Prepared
by : |
NIT |
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.