MIRA
INFORM REPORT
|
Report Date : |
06.06.2007 |
IDENTIFICATION DETAILS
|
Name : |
EUROPEAN
PERFUME WORKS CO LLC |
|
|
|
|
Registered Office : |
Industrial Area
No. 13, |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
1991 |
|
|
|
|
Legal Form : |
Limited Liability Company – LLC |
|
|
|
|
Line of Business : |
Engaged in the
manufacture and distribution of perfumes, body care and hair care products,
fresheners and butane cans. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
US$ 1,000,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name : EUROPEAN PERFUME WORKS CO LLC
Country of Origin :
Legal Form : Limited Liability Company - LLC
Registration Date : 1991
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Total Workforce : 400
Line of Business : Manufacture and distribution of perfumes, body care and hair
care products, fresheners and butane cans.
Financial Condition : Undetermined
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 :
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
Export
Countries: Subject’s export markets are located through the entire
Gulf, Europe,
Subject has a
workforce of approximately 400 employees.
FINANCIAL HIGHLIGHTS
Companies
registered in
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
Opinion
on the credit figure of US$ 1,500,000
European
Perfume Works Co LLC has been trading for over 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. However in view of the magnitude
of the transaction a measure of caution would be prudent.
Maximum suggested
credit figure: US$ 1,000,000
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average/normal. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)