MIRA
INFORM REPORT
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Report Date : |
22nd
February, 2007 |
IDENTIFICATION
DETAILS
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Name : |
EUROPEAN PERFUME
WORKS CO LLC |
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Registered Office : |
Industrial Area No. 13, 23121, Sharjah, United Arab Emirates |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
1991 |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Engaged in the business of manufacturing and distribution of perfumes, body care and hair care products, fresheners and butane cans. |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 400,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
SUMMARY
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Company Name |
EUROPEAN PERFUME WORKS CO LLC |
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Country of Origin |
Sharjah, United Arab Emirates |
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Legal Form |
Limited Liability Company - LLC |
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Registration Date |
1991 |
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Issued Capital |
UAE Dh 150,000 |
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Paid up Capital |
UAE Dh 150,000 |
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Total Workforce |
400 |
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Line of Business |
Manufacture and distribution of perfumes, body care and hair care products, fresheners and butane cans. |
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Financial Condition |
Undetermined |
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Payments |
Nothing detrimental uncovered |
COMPANY NAME
EUROPEAN PERFUME WORKS CO LLC
ADDRESS
Registered & Physical Address
Location : Industrial Area No. 13
PO Box : 23121
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 5342022
Facsimile : (971-6) 5342378
Email : epw@epwuae.com
Premises
Subject operates from a large suite of offices and a factory that are owned and located in the Industrial Area of Sharjah.
KEY PRINCIPALS
Abdullah Mustafa Al Mahbar Managing Director
Salish Kotesha Director
Subar Sharma Director
Sampath Seshayee General Manager
Uresh Parekh Administration Manager
Jeetu Shah Purchasing Manager
LEGAL FORM & OWNERS
Date of Establishment : 1991
Legal Form : Sharikat Thet Massouliya Mahdoudeh (Limited Liability Company - LLC)
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Name of Shareholder (s)
Abdullah Mustafa Al Mahbar
Salish Kotesha
Subar Sharma
Note to the Legal Form
A Limited Liability Company (LLC) is defined in the Company Law as a company incorporated with not less than two and not more than fifty shareholders, each responsible only for the liabilities of the company to the extent of their share participation in the capital of the company.
The Company Law provides that the capital of a Limited Liability Company (LLC) should not be less than UAE Dh 150,000, which should be divided into equal shares of a value not less than UAE Dh 100 each.
This type of company may engage in any form of legitimate business, with the exception of insurance, banking and investment of funds.
LINE OF BUSINESS
Operations: Engaged in the manufacture and distribution of perfumes, body care and hair care products,
fresheners and butane cans.
Import Countries: Europe and India
Export Countries: Subject’s export markets are located
through the entire Gulf, Europe, USA, Canada,
CIS, South Africa, Far
East, Australia and New Zealand
Subject has a workforce of approximately 400 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
United Arab Bank
PO Box : 881
Sharjah
Tel : (971-6) 5354111
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
European Perfume Works Co LLC has been trading for 15 years and is engaged in the manufacture and distribution of perfumes, body care and hair care products, freshners and butane cans.
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 company is considered to be a fair trade risk.
Maximum suggested credit figure: US$ 400,000
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 |