MIRA
INFORM REPORT
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Report Date : |
06.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
BELLELI ENERGY
SPA |
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Registered Office : |
Obaid Humaid At
Tayer Building, Al Garhoud Road, Al Garhoud, P O Box 2623 & 8170, Dubai |
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Country : |
United Arab
Emirates |
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Date of Incorporation : |
5th September 1998 |
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Com. Reg. No.: |
51671 |
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Legal Form : |
Branch of a Foreign Registered Corporation |
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Line of Business : |
Engaged as steel construction
contractors and electromechanical equipment installers and maintainers. |
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$ 400,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
SUMMARY
Company Name : BELLELI ENERGY SPA
Country of Origin : Italy
Legal Form : Branch of a Foreign Registered Corporation
Registration Date : 5th September 1998
Commercial Registration Number : 51671
Trade Licence Number : 507525
Membership Number : 51373
Issued Capital : UAE Dh 28,655,000,000
Paid up Capital : UAE Dh 28,655,000,000
Total Workforce : 1,035
Line of Business : Steel construction contractors and electromechanical equipment
installers and maintainers.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
BELLELI ENERGY SPA
ADDRESS
Registered & Physical Address
Building : Obaid Humaid At Tayer Building
Street : Al Garhoud Road
Area : Al Garhoud
PO Box : 2623 & 8170
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2011111
Facsimile : (971-4) 2824901
Premises
Subject operates
from a large suite of offices that are rented and located in the Central
Business Area of Dubai.
KEY PRINCIPALS
·
Remo Lui General
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 5th
September 1998
Legal Form :
Subject is the United Arab
Emirates registered branch of Belleli Energy SPA, a Limited
Liability Company incorporated in Italy.
Belleli Energy SPA in the United Arab Emirates, operates as a Branch
of a Foreign Registered Corporation with its registered office located at
the following address :
Belleli Energy SPA
Via Taliercio 1, Mantova I-46100
Italy
A Branch of a Foreign
Registered Corporation is not a legal entity in its own right.
Responsibility for payments
lays in the hands of the company where it is originally
registered.
Under these circumstances, we strongly
advise that any international trade credit should
only be written under the name
of the main company where the subject holds its
registered office, in this case
Italy.
Commercial Reg. No. : 51671, Dubai
Trade Licence No. : 507525
(Expires 2nd September 2007)
Membership No. : 51373
Issued Capital : UAE Dh 28,655,000,000
Paid up Capital : UAE Dh 28,655,000,000
LINE OF BUSINESS
Operations : Engaged as steel construction contractors
and electromechanical equipment installers and maintainers.
Subject has a
workforce of approximately 1,035 employees.
FINANCIAL HIGHLIGHTS
Companies
registered in Dubai, 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
·
Emirates Bank
International Ltd
Baniyas Road
PO Box : 2923
Deira
Dubai
Tel : (971-4) 2256256 / 2256900
Fax : (971-4) 2268005 / 2267718
Acc No. 0022218790123
PAYMENT HISTORY
No complaints regarding
subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 150,000:
Established in
1998, subject operates as steel construction contractors and electromechanical
equipment installers and maintainers.
Any credit amount
that is to be offered to this company should be written under the name of
“Belleli Energy SPA” and directed to the companies head office address in
Italy.
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 |
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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%)