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Report No. : |
340483 |
|
Report Date : |
16.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
CATERPILLAR
DISTRIBUTION SERVICE EUROPE BV BA |
|
|
|
|
Registered Office : |
Jebel Ali Free Zone
South, Plot No. S50911, P O Box: 17356, Dubai |
|
|
|
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Country : |
United Arab Emirates |
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|
|
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Date of Incorporation : |
14.02.2012 |
|
|
|
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Legal Form : |
Branch of a
Foreign Registered Corporation |
|
|
|
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Line of Business : |
Import and Distribution
of Caterpillar Heavy Equipment, Machinery and Spare Parts. |
|
|
|
|
No. of Employees : |
100 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Unknown |
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|
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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 :
CATERPILLAR DISTRIBUTION SERVICE EUROPE BV BA
Country of Origin : Belgium
Legal Form :
Branch of a Foreign Registered Corporation
Registration Date : 14th
February 2012
Trade Licence
Number : 134426
Total Workforce :
100
Activities :
Distributors of Caterpillar heavy equipment, machinery and spare parts.
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
CATERPILLAR
DISTRIBUTION SERVICE EUROPE BV BA
Location : Jebel Ali Free Zone South, Plot No.
S50911
PO Box : 17356
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 8106464
Facsimile : (971-4) 8106416
Email : barette_donwill@cat.com / kowalska_agneistka@cat.com
Subject operates from
a medium sized suite of offices that are rented and located in the Jebel Ali
Free Zone Area of Dubai.
Name Position
·
Dale
Carr General
Manager
·
David
Carrb Marketing
Manager
·
Barretto
Donwill Human
Resources Manager
·
Kowalska
Agniestka Administration
Executive
Date of Establishment : 14th
February 2012
Legal Form :
Subject is the United Arab
Emirates registered branch of Caterpillar Distribution Service
Europe
BV. BA, a Limited Liability Company incorporated in Belgium.
Caterpillar Distribution Service
Europe BV. BA in the United Arab Emirates, operates as a
Branch of a Foreign
Registered Corporation with its registered office located at the following
address:
Caterpillar Distribution Service
Europe BV. BA
Humbeeksesteenweg 98
Grombergen 1850
Belgium
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 Belgium.
Trade Licence No. : 134426
(Expires 15/02/2016)
Activities: Engaged in the import and distribution of
Caterpillar heavy equipment, machinery and spare parts.
Import
Countries: Europe and the
Far East
Subject has a workforce
of 100 employees.
Companies
registered in Dubai, 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.
·
Citibank
Khalid Bin Waleed Street
Bur Dubai
PO Box: 749
Dubai
Tel: (971-4) 2522100
Fax: (971-4) 2524942
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.66.44 |
|
|
1 |
Rs.102.41 |
|
Euro |
1 |
Rs.75.05 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
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.