MIRA
INFORM REPORT
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Report Date : |
12.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
STANDARD
FABRICATION & ENGINEERING EST |
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Registered Office : |
Ali Ahmed Hamad Bin
Huwaidi Building, Ras Al Khor Road, Al Aweer Industrial Area, P O Box 7432,
Dubai |
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Country : |
United Arab
Emirates |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
16th June 1986 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the fabrication of aluminium, metal, structural
steel and steel hangars as well as the manufacture of metal building
materials, such as cranes, hoists and conveyors, metal doors and window frames,
tanks and trailers. |
RATING &
COMMENTS
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MIRA’s Rating : |
Aa |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 500,000 |
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Status : |
Good |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
SUMMARY
Company Name : STANDARD FABRICATION & ENGINEERING EST
Country of Origin : Dubai, United Arab Emirates
Legal Form : Sole Proprietorship
Registration Date : 16th June 1986
Trade Licence Number : 300471
Membership Number : 20457
Invested Capital : UAE Dh 1,000,000
Total Workforce : 315
Line of Business : Fabrication of metal and the manufacture of metal
building materials.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
STANDARD
FABRICATION & ENGINEERING EST
ADDRESS
Registered & Physical Address
Building : Ali Ahmed Hamad Bin Huwaidi
Building
Street : Ras Al Khor Road
Area : Al Aweer Industrial Area
PO Box : 7432
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3331818 / 3318185
Facsimile : (971-4) 3331320 / 3331325
Email : stdengg@emirates.net.ae
Premises
Subject operates
from a suite of offices, a factory and a warehouse covering an area of 26,000
square metres that are owned and located in the Industrial Area of Dubai.
KEY PRINCIPALS
·
Ali Ahmed
Hamad Bin Huwaidi Proprietor
& General Manager
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Lawrence
Mendoca Assistant
General Manager
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Samir Kumar
Haider Commercial
Manager
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Faiz Rento Finance
Manager
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Sayed Ahmed
Hussain Marketing
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 16th
June 1986
Legal Form :
Mouassasa Khassa (Sole
Proprietorship)
Trade Licence No. : 300471
(Expires 15th June 2007)
Membership No. : 20457
Invested Capital
: UAE Dh 1,000,000
Mr Ali Ahmed Hamad
Bin Huwaidi is the sole proprietor of the business.
Note to the Legal Form
Commonly referred to as an establishment, the Company Law defines Mouassasa Khassa as the business of an individual where liability for all debts is unlimited. The business is the entire responsibility of its proprietor, who is liable for all its debts to the extent of his entire wealth. There are no legal requirements concerning the amount of capital of a sole proprietor.
LINE OF BUSINESS
Operations : Engaged in the fabrication of aluminium,
metal, structural steel and steel hangars as well as the manufacture of metal
building materials, such as cranes, hoists and conveyors, metal doors and
window frames, tanks and trailers.
Import Countries
: United Kingdom, Germany
and Italy.
International
Suppliers :
·
Morris Ltd United Kingdom
Operating Trend
: Steady
Subject has a
workforce of approximately 315 employees.
FINANCIAL HIGHLIGHTS
Financial
highlights provided by outside sources are given below :
Currency : United
Arab Emirates Dirham (UAE Dh)
Year Ending
31/12/05: Year
Ending 31/12/06:
Total Revenue UAE Dh 47,920,000 UAE Dh 49,600,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
·
Emirates Bank
International Ltd
Al Nasr Square
PO Box : 2923
Dubai
Tel : (971-4) 2281181
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 150,000:
Standard
Fabrication & Engineering Est commenced operations in 1986 and specialises
in the fabrication of aluminium, metal, structural steel and steel hangars as well
as the manufacture of metal building materials.
Local sources
report that payment obligations are met in a generally timely manner and the
operating history is clear. As such the business is deemed a fair trade risk
and the above credit figure is considered to be within subject’s financial
means.
Maximum suggested
credit figure: US$ 500,000
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 |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)