MIRA
INFORM REPORT
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Report Date : |
11.05.2007 |
IDENTIFICATION DETAILS
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Name : |
AGGREKO UK
LIMITED |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
16th May 1999 |
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Legal Form : |
Branch of a Foreign Registered Corporation |
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Line of Business : |
Engaged in the
import, distribution and refurbishment of generators. |
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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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : AGGREKO UK LIMITED
Country of Origin :
Legal Form : Branch of a Foreign Registered Corporation
Registration Date : 16th May 1999
Trade Licence Number : 2108
Membership Number : 54330
Issued Capital : UAE Dh 600,000
Paid up Capital : UAE Dh 600,000
Total Workforce : 40
Line of Business : Distributors and refurbishers of generators.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
AGGREKO UK LIMITED
ADDRESS
Registered & Physical Address
Street :
Area : Jebel Ali Free Zone
PO Box : 17576
Town :
Country :
Telephone : (971-4) 8834059
Facsimile : (971-4) 8834145
Email : customerservice@aggreko.ae
Premises
Subject operates
from a medium sized suite of offices and a warehouse that are rented and
located in the Jebel Ali Free Zone of Dubai.
KEY PRINCIPALS
Name Nationality Position
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Frederick
Alexander Bruce Shepherd British General Manager
LEGAL FORM &
OWNERS
Date of Establishment : 16th
May 1999
Legal Form :
Subject is the United Arab Emirates
registered branch of Aggreko UK Limited, a
Limited Liability Company incorporated in the
Aggreko UK Limited in the
Foreign Registered
Corporation with its registered office located at the following
address :
Aggreko UK Limited
Overburn Avenue
Dumbarton
Dumbartonshire
G82 2RL
Tel : (44-1389) 767821
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
the
Trade Licence No. : 2108
(Expires 15th May 2008)
Membership No. : 54330
Issued Capital : UAE Dh 600,000
Paid up Capital : UAE Dh 600,000
LINE OF BUSINESS
Operations : Engaged in the import, distribution and
refurbishment of generators.
Import Countries
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Operating Trend
: Steady
Subject has a
workforce of 40 employees.
FINANCIAL HIGHLIGHTS
Financial
highlights provided by outside sources are given below :
Currency :
Year
Ending 31/12/05 : Year
Ending 31/12/06 :
Total Revenue UAE Dh 24,800,000 UAE Dh 26,270,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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Standard
Chartered Bank
PO Box : 999
Tel : (971-4) 2520455
Acc No. 02705729601
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in 1999,
subject is involved in the import, distribution and refurbishment of
generators.
Any credit amount
that is to be offered to this company should be written under the name of
“Aggreko UK Limited” and directed to the companies head office address in the
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%)