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MIRA INFORM REPORT
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Report No. : |
493561 |
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Report Date : |
21.02.2018 |
IDENTIFICATION DETAILS
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Name : |
PAPER LINK INTERNATIONAL FZCO |
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Registered Office : |
Plot No. S20108, Jebel Ali Free Zone,
PO Box 17913, Dubai |
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Country : |
United Arab Emirates |
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Financials (as on) : |
31.12.2016 |
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Date of Incorporation : |
20.03.2001 |
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Com. Reg. No.: |
167592 |
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Legal Form : |
Free Zone Company – FZCO |
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Line of Business : |
Subject is engaged in the import and distribution of paper,
paperboards and secondary fibre (waste paper) for recycling. |
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No. of Employees : |
15 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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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
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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United Arab Emirates |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 from the oil and gas sector to 30%.
Since the discovery of oil in the UAE nearly 60 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 2008-09, 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 Government that was refinanced in March
2014.
The UAE’s dependence on oil is a significant long-term challenge. Low
oil prices have prompted the UAE to cut expenditures, including on some social
programs, but the UAE has sufficient assets in its sovereign investment funds
to cover its deficits. The government reduced fuel subsidies in August 2015,
and has announced plans to introduce excise and value-added taxes by January 1,
2018. The UAE's strategic plan for the next few years focuses on economic
diversification, promoting the UAE as a global trade and tourism hub,
developing industry, and creating more job opportunities for nationals through
improved education and increased private sector employment.
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Source
: CIA |
SUMMARY
Company Name :
PAPER LINK INTERNATIONAL FZCO
Country of Origin :
Dubai, United Arab Emirates
Legal Form :
Free Zone Company - FZCO
Registration Date :
20th March 2001
Commercial Registration Number :
167592, Dubai
Trade Licence Number :
2838
Membership Number :
62825
Issued Capital :
UAE Dh 500,000
Paid up Capital :
UAE Dh 500,000
Total Workforce :
15
Activities :
Distributors of paper, paperboards and secondary fibre (waste paper)
for recycling
Financial Condition :
Fair
Payments :
No Complaints
Operating Trend :
Steady
COMPANY
NAME
PAPER LINK INTERNATIONAL FZCO
ADDRESS
Registered &
Physical Address
Location : Plot No. S20108, Jebel Ali Free Zone
PO Box :
17913
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 8861444
/ 8811557
Facsimile : (971-4)
8861449
Email : dxb@paperlinkintl.com
/ p.accounts@paperlinkintl.com
Premises
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Jebel Ali Free Zone Area of Dubai.
Branch Office (s)
Location Description
Regal Tower Office
premises
Sheikh Zayed Road
Business Bay
Dubai
Tel: (971-4) 4542323
KEY
PRINCIPALS
Name Position
Noufal Puthanangadi Mustafa Puthan Managing
Director
Abzer Safee Jani Director
Rajesh Pokat Finance
Manager
B Prasana Chief
Accountant
LEGAL
FORM & OWNERS
Date of Establishment : 20th
March 2001
Legal Form : Free Zone Company
– FZCO
Commercial Reg.
No. : 167592, Dubai
Trade Licence No. : 2838
Membership No. : 62825
Issued Capital : UAE Dh 500,000
Paid up Capital : UAE Dh 500,000
Name of
Shareholder (s) Percentage
Paper Link International Ltd 100%
British Virgin Islands
AFFILIATED
COMPANIES
Paper Link International Ltd
LOB No. 5, Office No. 10, Ground Floor
Sheikh Zayed Road
Jebel Ali Free Zone
PO Box: 17913
Dubai
Tel: (971-4) 8811557
Fax: (971-4) 8811688
Paper Link Trading LLC
Office No. 1911, Regal Tower
Business Bay, Sheikh Zayed Road
Dubai
Tel: (971-4) 4542323
Fax: (971-4) 4544515
Paper Link International Limited
7-15 Greatorex Street
London E1 5NF
United Kingdom
Tel: (44-773) 9660321
OPERATIONS
Activities: Engaged in the import and distribution of paper, paperboards and
secondary fibre (waste paper) for recycling.
Import Countries: Europe, India, Malaysia and the United States of
America
Agencies Held:
ITC Paperboards & Speciality Paper Division India
Viridor Waste Management United
Kingdom
International Forest Products United
States of America
Omni Spare Corporation United States of
America
Eagle Paper United
States of America
Gayatrishakti Paper & Boards Ltd India
Paper Pros Ltd Malaysia
Export Countries: India, Indonesia,
Korea, Middle East and China
Operating Trend: Steady
Subject has a workforce of 15 employees.
FINANCIAL
DATA
Financial
highlights provided by local sources are given below:
Currency: United
Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/15: Year Ending
31/12/16:
Total Sales UAE
Dh 27,725,000 UAE Dh
28,200,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
BANKERS
Commercial Bank of Dubai
Baniyas Street
Deira
PO Box: 1709
Dubai
Tel: (971-4) 2227121 / 2253222
Fax: (971-4) 2220943 / 2254565
PAYMENT
HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL
COMMENTS
The subject and its shareholders/owners have been searched in the
following databases; Office of Foreign Assets Control (OFAC), United Nations
Security Council Sanctions, Australian Sanctions List, US Consolidated
Sanctions List, EU Financial Sanctions List and UK Financial Sanctions List and
nothing adverse could be found on the exact names listed within the report.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 64.53 |
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1 |
INR 90.13 |
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Euro |
1 |
INR 70.86 |
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UAE Dh |
1 |
INR 17.65 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
TRU |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
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Promoters
/ Management background
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Payment
record
·
Litigation
against the subject
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Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.