MIRA
INFORM REPORT
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Report Date : |
17.07.2007 |
IDENTIFICATION DETAILS
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Name : |
CAPE |
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Registered Office : |
Khalfan
Khamis Saif Al Amimi Building, Al Mussafah M65/14, |
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Country : |
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Date of Incorporation : |
3rd June 1979 |
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Com. Reg. No.: |
21085, |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Manufacture, supply and installation of thermal insulation products, refractory systems and fire
proofing materials. |
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$ 750,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name :
CAPE
Country of Origin :
Legal Form :
Limited Liability Company - LLC
Registration Date :
3rd June 1979
Commercial Registration Number :
21085,
Trade License Number :
6343
Membership Number :
1784
Issued Capital :
UAE Dh 300,000
Paid up Capital :
UAE Dh 300,000
Total Workforce :
600
Line of Business :
Manufacture, supply and installation of thermal insulation products,
refractory systems and fire proofing materials.
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
COMPANY NAME
CAPE
ADDRESS
Registered & Physical Address
Building : Khalfan Khamis Saif Al Amimi Building
Area : Al Mussafah
M65/14
PO Box : 347
Town :
Country :
Telephone : (971-2) 5555199
Facsimile : (971-2) 5553229
Email : mail@capeeast.ae
Premises
Subject operates from a large suite of offices and a factory that are
owned and located in the Industrial Area of Abu Dhabi.
KEY PRINCIPALS
· John Hopkins Managing
Director
· Khalfan Khamis Saif Al Amimi Director
· Hema Chandra Operations
Manager
LEGAL FORM &
OWNERS
Date of
Establishment : 3rd
June 1979
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 21085,
Trade Licence No. : 6343 (Expires 4th August 2008)
Membership No. : 1784
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder
(s)
· Khalfan Khamis Saif Al Amimi
· Cape Ltd
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.
Non UAE Participation
The participation of non-Emirati in a trade or business in the
It is common for the 51 percent to be held by the UAE national on paper only with the foreign partner(s) providing all the capital requirements for the company and paying an annual fee to the local partner.
Under this arrangement the above ownership may not reflect the actual profit distribution within the company, as the company may have internal management agreements in place that provides full management of the company in return for a share of the company’s assets and profits. This internal relationship may or may not be recognised by law depending on the way the internal agreement is made.
LINE OF BUSINESS
Operations : Engaged in the manufacture, supply and
installation of thermal
insulation products, refractory systems and fire proofing materials.
Subject also
provides industrial painting services.
Import Countries : Europe and the
Subject has a workforce of approximately 600 employees.
FINANCIAL HIGHLIGHTS
Companies registered in
BANKERS
·
National Bank of
PO Box : 4
Tel : (971-2)
6345777 / 6327113 / 6335262
Fax :
(971-2) 6336078
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in 1979, subject is involved in the manufacture, supply and
installation of thermal
insulation products, refractory systems and fire proofing materials.
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$ 750,000
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%)