MIRA
INFORM REPORT
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Report Date : |
07.08.2007 |
IDENTIFICATION DETAILS
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Name : |
STEMCOR |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.206 |
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Date of Incorporation : |
1st December 2005 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Engaged in the import and distribution of steel and related raw
materials. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
US$ 70,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
SUMMARY
Company Name :
STEMCOR
Country of Origin :
Legal Form : Limited Liability Company
Registration Date : 1st December 2005
Trade Licence Number : 30267
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 5
Line of Business : Distributors of steel and related raw materials.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
COMPANY NAME
STEMCOR
ADDRESS
Registered & Physical Address
Building :
Street :
PO Box : 37324
Town :
Country :
Telephone : (971-4) 3310306
Facsimile : (971-4) 3310363
Email : dubai@ae.stemcor.com
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Dubai.
KEY PRINCIPALS
· Bill Attenborough Managing
Director
· Chris Combe General
Manager
LEGAL FORM &
OWNERS
Date of
Establishment : 1st
December 2005
Legal Form : Limited Liability
Company
Trade Licence No. : 30267
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder
(s) Percentage
· Stemcor UK Ltd 100%
City Point
Tel :
(44-207) 7753600
LINE OF BUSINESS
Operations : Engaged in the import and distribution of steel
and related raw materials.
Import Countries :
Subject has a workforce of 5 employees.
FINANCIAL HIGHLIGHTS
Financial highlights provided by outside sources are given below :
Currency :
Year
Ending 31/12/06 :
Total Revenue UAE
Dh 4,100,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
·
National Bank of
PO Box :
777
Tel : (971-4)
2222241
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in 2005, subject is involved in the import and distribution
of steel and related raw materials.
Local sources report that the subject’s operating history is clear with
payment obligations met in a generally timely manner. The financial position is
satisfactory and the company is deemed a fair trade risk.
Maximum suggested credit figure: US$ 70,000
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%)