MIRA
INFORM REPORT
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Report Date : |
24.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
ORPRO COMPANY LLC |
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Registered Office : |
Hamriyah Free
Zone, Suite 1, J-05/4, P O Box 41659, Sharjah |
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Country : |
United Arab
Emirates |
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Date of Incorporation : |
1997 |
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Legal Form : |
Free Zone Company – FZC |
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Line of Business : |
Engaged in the
manufacture of polyester film. |
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 : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : ORPRO COMPANY LLC
Country of Origin : Sharjah, United Arab Emirates
Legal Form : Free Zone Company - FZC
Registration Date : 1997
Trade Licence Number : 190
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Total Workforce : 45
Line of Business : Manufacturers of polyester film.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
ORPRO COMPANY LLC
ADDRESS
Registered & Physical Address
Location : Hamriyah Free Zone, Suite 1,
J-05/4
PO Box : 41659
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 5263880
Facsimile : (971-6) 5263881
Email : info@orpro.net
Premises
Subject operates
from a small suite of offices and a factory that are rented and located in the
Hamriyah Free Zone Area of Sharjah.
KEY PRINCIPALS
Name Nationality Position
·
John William
Holst Dutch Managing Director
·
Jamal Yousef
Hussain Syrian Director
LEGAL FORM & OWNERS
Date of Establishment : 1997
History : Subject was originally located in Fujairah
but relocated to Sharjah and re-registered on
14th March 2001.
Legal Form :
Free Zone Company - FZC
Trade Licence No. : 190
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Name of Shareholder (s)
·
John William
Holst
·
Jamal Yousef
Hussain
Note to the Legal Form
A Free Zone Company (FZC) is a Private Limited Liability Company, with its liability determined by the amount of paid-up capital. The minimum share capital currently stands at UAE Dh 1,000,000.
This legal form allows for 100 percent foreign ownership within the United Arab Emirates and allows foreign companies to maintain a presence in the UAE (within the free zone), without the usual requirement of a local sponsor that would hold majority ownership, ie minimum of 51 % equity in the capital.
LINE OF BUSINESS
Operations : Engaged in the manufacture of polyester
film.
Import Countries
: Europe and GCC countries.
Subject has a
workforce of 45 employees.
FINANCIAL HIGHLIGHTS
Companies
registered in Sharjah, 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
Al Boorj Avenue
Sharjah
Tel : (971-6) 5351366 / 5354873
Fax : (971-6) 5372903
PAYMENT HISTORY
No complaints regarding
subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 150,000:
Established in
1997, subject is involved in the manufacture of polyester film.
Local sources
report that payment obligations are met in a generally timely manner and the
operating history is clear. As such the company 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$ 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%)