MIRA
INFORM REPORT
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Report Date : |
17.07.2007 |
IDENTIFICATION DETAILS
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Name : |
UNIKEM INTERNATIONAL FZC |
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Registered Office : |
Hamriyah Free Zone, |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
7th November 2005 |
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Legal Form : |
Free Zone Company – FZC |
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Line of Business : |
Engaged in the import and distribution of chemical raw materials and engineering equipment. |
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 :
UNIKEM INTERNATIONAL FZC
Country of Origin :
Legal Form :
Free Zone Company - FZC
Registration Date :
7th November 2005
Trade Licence Number :
1417
Membership Number :
800339
Issued Capital :
UAE Dh 1,000,000
Paid up Capital :
UAE Dh 1,000,000
Total Workforce :
10
Line of Business :
Distributors of chemical raw
materials and engineering equipment.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
COMPANY NAME
UNIKEM INTERNATIONAL FZC
ADDRESS
Registered & Physical Address
Location : Hamriyah Free
Zone
PO Box : 42675
Town : Sharjah
Country :
Telephone : (971-6) 5260714
Facsimile : (971-6)
5260715
Email : unikemfz@eim.ae
Premises
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Hamriyah Free Zone Area of Sharjah.
KEY PRINCIPALS
· Kuttam Kulamgara Managing
Director
· K
· Dileep Kumar Marketing
Manager
LEGAL FORM &
OWNERS
Date of
Establishment : 7th
November 2005
Legal Form : Free Zone Company
- FZC
Trade Licence No. : 1417
Membership No. : 800339
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Name of Shareholder
(s) Percentage
· Kuttam Kulamgara 100%
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 import and distribution of chemical raw materials and engineering
equipment.
Import Countries : Europe and the
International Suppliers :
·
Brevini Riduttori SpA
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PIV Drives GmbH
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Badger Meter
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Peerless Pumps
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Subject has a workforce of 10 employees.
FINANCIAL HIGHLIGHTS
Financial highlights provided by outside sources are given below :
Currency :
Year
Ending 31/12/06 :
Total Revenue UAE
Dh 5,810,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
·
Bank of
PO Box : 1671
Sharjah
Tel : (971-6) 5684231
Fax : (971-6) 5681025
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 150,000:
Established in 2005, subject is involved in the import and distribution
of chemical raw materials and
engineering equipment.
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$ 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/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%)