MIRA
INFORM REPORT
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Report Date : |
17.09.2007 |
IDENTIFICATION DETAILS
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Name : |
UCAR EMULSION SYSTEMS FZE |
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Registered Office : |
Birth 51, Sheikh Zayed Road, Jebel Ali Free Zone, P O Box –
16943, Dubai, |
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Country : |
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Date of Incorporation : |
23.09.1996 |
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Com. Reg. No.: |
7137 |
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Legal Form : |
Mouassasat Al Mintaka Al Horra (Free Zone Establishment -
FZE) |
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Line of Business : |
Engaged in the manufacture of chemical products and latex products |
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 :
UCAR EMULSION SYSTEMS FZE
Country of Origin :
Legal Form :
Free Zone Establishment - FZE
Registration Date :
23rd September 1996
Trade Licence Number :
7137
Membership Number :
39430
Issued Capital :
UAE Dh 14,000,000
Paid up Capital :
UAE Dh 14,000,000
Total Workforce :
50
Line of Business :
Manufacture of chemical products and latex products.
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
COMPANY NAME
UCAR EMULSION SYSTEMS FZE
ADDRESS
Registered & Physical Address
Building : Birth 51
Street :
Area : Jebel Ali
Free Zone
PO Box : 16943
Town :
Country :
Telephone : (971-4) 8074200
/ 8074206
Facsimile : (971-4)
8074300 / 8835353
Premises
Subject operates from a medium sized suite of offices and a factory that
are rented and located in the Jebel Ali Free Zone.
KEY PRINCIPALS
Graham Fox
Managing Director
LEGAL FORM &
OWNERS
Date of Establishment : 23rd
September 1996
Legal Form : Mouassasat Al
Mintaka Al Horra (Free Zone Establishment - FZE)
Trade Licence No. : 7137
Membership No. : 39430
Issued Capital : UAE Dh 14,000,000
Paid up Capital : UAE Dh 14,000,000
Name of Shareholder
(s) Percentage
UCAR Emulsion Systems International Incorporated 100%
Note to the Legal Form
A Free Zone Establishment - or FZE - is an establishment formed and
registered within the Free Zones and regulated solely by the Free Zone
authorities.
Such establishments must have a capital of at least UAE Dh 1 million and
liability will be limited to the amount of paid-up capital. A FZE need only
have a single shareholder and is an independent legal entity.
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, i.e. minimum of 51 % equity in the capital.
LINE OF BUSINESS
Operations : Engaged in the
manufacture of chemical products and latex products.
Import Countries :
Subject has a workforce of 50 employees.
FINANCIAL HIGHLIGHTS
Companies registered in
BANKERS
ABN Amro Bank
Deira Branch
PO Box : 2567
Tel : (971-4) 3512200
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 150,000:
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 and the
above credit figure is 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. |
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%)