MIRA
INFORM REPORT
|
Report Date : |
03.04.2008 |
IDENTIFICATION
DETAILS
|
Name : |
WEIKFIELD INTERNATIONAL UAE LLC |
|
|
|
|
Registered Office : |
Industrial Area No. 11, PO Box
24068, Sharjah |
|
|
|
|
Country : |
United Arab Emirates |
|
|
|
|
Financials (as on) : |
31.12.2007 |
|
|
|
|
Date of Incorporation : |
11.05.1994 |
|
|
|
|
Com. Reg. No.: |
25420, Sharjah |
|
|
|
|
Legal Form : |
Limited Liability Company - LLC |
|
|
|
|
Line of Business : |
Production of Foodstuff, Specialising in Caramel, Custard Powder and Jelly. |
RATING &
COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
US$ 750,000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name : WEIKFIELD INTERNATIONAL UAE LLC
Country of Origin : Sharjah, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 11th May 1994
Commercial Registration Number : 25420, Sharjah
Trade Licence Number : 25420
Chamber Membership Number : 35494
Issued Capital : UAE Dh 1,601,000
Paid up Capital : UAE Dh 1,601,000
Total Workforce : 65
Activities : Production of foodstuff, specialising in caramel, custard powder and jelly.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 750,000
COMPANY NAME
WEIKFIELD INTERNATIONAL UAE LLC
ADDRESS
Registered & Physical Address
Location : Industrial
Area No. 11
PO Box : 24068
Town : Sharjah
Country : United Arab
Emirates
Telephone : (971-6) 5342052
/ 5346150 / 5342518
Facsimile : (971-6)
5342868
Email : wiuae@emirates.net.ae
Premises
Subject operates from a medium sized suite of offices and a factory that
are owned and located in the Industrial Area of Sharjah.
KEY PRINCIPALS
Name Nationality Position
· Sheikh
Abdul Rahman Bin Sali Emirati Managing
Director
· S.
Ragonandan - General
Manager
· Manish
Mathur - Finance
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 11th
May 1994
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 25420, Sharjah
Trade Licence No. : 25420
Chamber Member No. : 35494
Issued Capital : UAE Dh 1,601,000
Paid up Capital : UAE Dh 1,601,000
Name of Shareholder (s) Percentage
· Sheikh
Abdul Rahman Bin Sali 52%
· Dabur
International Limited 38%
India
· Weikfield
Overseas 10%
United Kingdom
AFFILIATED COMPANIES
· Dabur
International
Jebel Ali Free
Zone
PO Box 16944
Dubai
Tel: (971-4) 8817756
Fax:
(971-4) 8817734
OPERATIONS
Activities: Engaged in the production of foodstuff, specialising in caramel, custard powder and jelly.
Import Countries: United States of America, India and the United
Kingdom.
Operating Trend: Steady
Subject has a workforce of 65 employees.
FINANCIAL DATA
Financial highlights provided by local sources are given below:
Currency: United Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/06: Year
Ending 31/12/07:
Sales UAE
Dh 33,000,000 UAE Dh
38,000,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
·
ABN Amro Bank
Al Zayani Building
PO Box : 1971
Sharjah
Tel : (971-6) 5355021
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.
The financial information in the report has been confirmed by Mr Manish Mathur – Finance Manager.
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. |
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%)