MIRA
INFORM REPORT
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Report Date : |
21st
June, 2006. |
IDENTIFICATION
DETAILS
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Name : |
KHK
SCAFFOLDING & FORMWORK LLC |
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Registered Office : |
New
Industrial Area, Sanayia, PO Box: 2701, Ajman, United Arab Emirates |
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Country : |
United
Arab Emirates |
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Date of Incorporation : |
12.12.1994 |
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Com. Reg. No.: |
9570,
Ajman |
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Legal Form : |
Sharikat Thet Massouliya
Mahdoudeh (Limited Liability Company - LLC) |
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Line of Business : |
The
company is engaged in the manufacture of scaffolding and related equipment. |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$
400,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company
Name : KHK
SCAFFOLDING & FORMWORK LLC
Country
of Origin :
Ajman, United Arab Emirates
Legal
Form :
Limited Liability Company - LLC
Registration
Date :
12th December 1994
Commercial
Registration Number : 9570,
Ajman
Issued
Capital :
UAE Dh 15,000,000
Paid up
Capital :
UAE Dh 15,000,000
Total
Workforce :
800
Line of
Business :
Manufacture of scaffolding and related equipment.
Financial
Condition :
Undetermined
Payments :
Nothing detrimental uncovered
COMPANY NAME
KHK
SCAFFOLDING & FORMWORK LLC
ADDRESS
Registered & Physical
Address
Location : New Industrial Area, Sanayia
PO Box : 2701
Town : Ajman
Country : United Arab Emirates
Telephone : (971-6) 7439013
Facsimile : (971-6) 7439017
Email : khkscaf@emirates.net.ae
Premises
Subject
operates from a suite of offices and a factory covering an area of 51,000
square metres that are owned and located in the Industrial Area of Ajman.
KEY PRINCIPALS
·
Arjun D. Taurani Managing
Director
·
Anil Taurani Director
·
Mirza Nadeem Baig General
Manager
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Mervyn D' Cunha Finance
Manager
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Noorulla Sharief Marketing
Manager
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Sunil Mehta Purchasing
Manager
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Aniruddha Banerjee Production
Manager
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Athwal Amrik Singh Maintenance
Manager
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A.N.Hegde Accounts
Manager
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Peer Mohideen Administration
Manager
·
Jaideep Mehta Personnel
Manager
LEGAL FORM & OWNERS
Date of Establishment : 12th December 1994
Legal Form : Sharikat Thet Massouliya Mahdoudeh (Limited Liability Company - LLC)
Commercial Reg. No. : 9570, Ajman
Issued
Capital : UAE Dh 15,000,000
Paid
up Capital : UAE Dh 15,000,000
Name of Shareholder (s)
·
Ali Abdullah Al Hamrani
·
Arjun D. Taurani
·
Anil Taurani
Note
to the Legal Form
A
Limited Liability Company (LLC) is defined in the Company Law as a company
incorporated with not less than two and not more than fifty shareholders, each
responsible only for the liabilities of the company to the extent of their
share participation in the capital of the company.
The
Company Law provides that the capital of a Limited Liability Company (LLC)
should not be less than UAE Dh 150,000, which should be divided into equal
shares of a value not less than UAE Dh 100 each.
This
type of company may engage in any form of legitimate business, with the
exception of insurance, banking and investment of funds.
LINE OF BUSINESS
Operations: Engaged in the manufacture of
scaffolding and related equipment.
Subject is an ISO 9001-9002 accredited company
Production
Capacity: 50,000
metric tones per annum
Subject
has a workforce of approximately 800 employees.
FINANCIAL HIGHLIGHTS
Companies
registered in Ajman, 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.
BANKERS
·
Mashreq
Bank Plc
PO Box : 11
Ajman
Tel : (971-6) 7422440
Fax : (971-6) 7426690
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National
Bank of Fujairah
Main Branch
Ajman
Acc No. 200010250
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion
on the credit figure of US$ 150,000
KHK
Scaffolding & Formwork LLC was established in 1994 and has gained a good
reputation for the quality of its products.
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 and the above credit
figure is within subject’s financial means.
Maximum
suggested credit figure: US$ 400,000
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 |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
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 |