MIRA
INFORM REPORT
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Report Date : |
02.02.2007 |
IDENTIFICATION
DETAILS
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Name : |
HENKEL
POLYBIT INDUSTRIES |
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Registered Office : |
Industrial
Area, P O Box 293, Umm Al Quwain |
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Country : |
United
Arab Emirates |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
25th April 1995 |
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Com. Reg. No.: |
3246 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Engaged
in the production of waterproofing and corrosion-inhibiting sealants and
coatings for the construction industry. |
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$
600,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : HENKEL POLYBIT INDUSTRIES
Country of Origin : Umm Al Quwain, United Arab Emirates
Legal Form : Limited Liability Company
Registration Date : 25th April 1995
Commercial Registration Number : 3246
Trade Licence Number : 107
Membership Number : 253
Issued Capital : UAE Dh 1,500,000
Paid up Capital : UAE Dh 1,500,000
Total Workforce : 250
Line of Business : Producers of waterproofing and corrosion-inhibiting sealants
and coatings.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
HENKEL
POLYBIT INDUSTRIES
ADDRESS
Registered & Physical Address
Location : Industrial Area
PO Box : 293
Town : Umm Al Quwain
Country : United Arab Emirates
Telephone : (971-6) 7670777 / 7671661
Facsimile : (971-6) 7671669
Email : polybit@emirates.net.ae
Premises
Subject
operates from a large suite of offices and a factory that are rented and
located in the Industrial Area of Umm Al Quwain.
Branch Offices
Location Description
· Sharjah Office
premises
Tel : (971-6) 5722282
Fax
: (971-6) 5727507
KEY PRINCIPALS
Name Nationality Position
· Mohamed Salim Al Malihy Emirati Managing Director
· Navin Antony - General
Manager
· S Nagrajan - Finance
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 25th April 1995
Legal Form : Limited Liability Company
Commercial Reg. No. : 3246
Trade Licence No. : 107
Membership No. : 253
Issued
Capital : UAE Dh 1,500,000
Paid
up Capital : UAE Dh 1,500,000
Name of Shareholder
(s)
· Mohamed Salim Al Malihy
· Henkel KGaA
Henkelstrasse 67
40589
Dusseldorf
Germany
Tel : (49-211) 7970
Fax : (49-211) 7984008
LINE OF BUSINESS
Operations
: Engaged in the
production of waterproofing and corrosion-inhibiting sealants and coatings for
the construction industry.
Import
Countries :
Europe and the United States of America.
Operating
Trend : Steady
Subject
has a workforce of approximately 250 employees.
FINANCIAL HIGHLIGHTS
Financial
highlights provided by outside sources are given below :
Currency
: United Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/04 : Year
Ending 31/12/05 :
Total
Revenue UAE Dh
108,275,000 UAE
Dh 119,520,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
·
Dubai
Islamic Bank
PO Box : 1080
Dubai
Tel : (971-4) 2953000
Fax : (971-4) 2954111
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion
on the credit figure of US$ 150,000:
Established
in 1995, subject is involved in the production of waterproofing and corrosion-inhibiting
sealants and coatings for the construction industry.
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 business is considered to be a fair trade risk and the above credit
figure is deemed to be within subject’s financial means.
Maximum
suggested credit figure: US$ 600,000
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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