MIRA
INFORM REPORT
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Report Date : |
29.08.2007 |
IDENTIFICATION DETAILS
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Name : |
NORMETAL SA |
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Registered Office : |
Roundabout No. 6,
Sheikh Zayed Road, Jebel Ali Free Zone, P O Box 17541, Dubai |
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Country : |
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Date of Incorporation : |
27th May 2004 |
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Legal Form : |
Branch of a Foreign Registered Corporation |
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Line of Business : |
Engaged in the import
and distribution of steel, construction materials, petroleum products and
petrochemicals. |
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$ 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : NORMETAL SA
Country of Origin :
Legal Form : Branch of a Foreign Registered Corporation
Registration Date : 27th May 2004
Trade Licence Number : 4335
Membership Number : 86328
Total Workforce : 20
Line of Business : Distributors of steel, construction materials, petroleum products
and petrochemicals.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
NORMETAL SA
ADDRESS
Registered & Physical Address
Location : Roundabout No. 6
Street :
Area : Jebel Ali Free Zone
PO Box : 17541
Town :
Country :
Telephone : (971-4) 8873190
Facsimile : (971-4) 8873290
Email : aniyath@emirates.net.ae
Premises
Subject operates
from a medium sized suite of offices and a warehouse that are rented and
located in the Jebel Ali Free Zone Area of Dubai.
KEY PRINCIPALS
·
Philippe
Louis Brelle General
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 27th
May 2004
Legal Form :
Subject is the United Arab
Emirates registered branch of Normetal SA, a
Limited Liability Company
incorporated in the
Normetal SA in the
Registered Corporation.
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 the
Trade Licence No. : 4335
Membership No. : 86328
LINE OF BUSINESS
Operations : Engaged in the import and distribution of
steel, construction materials, petroleum products and petrochemicals.
Import Countries
: Europe and the
Subject has a
workforce of 20 employees.
FINANCIAL HIGHLIGHTS
Companies
registered in
BANKERS
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HSBC
Bank
Deira Souk Branch
PO Box : 66
Tel : (971-4) 2535000
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 150,000:
Established in 2004,
subject is involved in the import and distribution of steel, construction
materials, petroleum products and petrochemicals.
Any credit amount
that is to be offered to this company should be written under the name of
“Normetal SA” and directed to the companies head office address in the
Maximum suggested
credit figure: US$ 150,000
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. |
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%)