MIRA
INFORM REPORT
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Report Date : |
15.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
DILLINGER MIDDLE EAST FZE |
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Registered Office : |
Sheikh Zayed Road, Jebel Ali Free Zone, PO Box 17592, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
29.11.2005 |
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Legal Form : |
Free Zone Establishment - FZE |
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Line of Business : |
Import and Distribution of Basic Steel Products and Non
Ferrous Metals. |
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 : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : DILLINGER MIDDLE EAST FZE
Country of Origin : Dubai, United Arab Emirates
Legal Form : Free Zone Establishment - FZE
Registration Date : 29th November 2005
Trade Licence Number : 6589
Chamber Membership Number : 102774
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Total Workforce : 14
Activities : Import and distribution of basic steel products and non ferrous metals.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 150,000
COMPANY NAME
DILLINGER MIDDLE EAST FZE
ADDRESS
Registered & Physical Address
Street : Sheikh Zayed
Road
Area : Jebel Ali
Free Zone
PO Box : 17592
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 8833894
Facsimile : (971-4) 8833895
Email : sales@dme.dillinger.biz
Premises
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Jebel Ali Free Zone.
KEY PRINCIPALS
Name Nationality Position
· Ranadhir Venugopal
Selthukutty Indian Managing
Director
LEGAL FORM & OWNERS
Date of
Establishment : 29th
November 2005
Legal Form : Free Zone
Establishment - FZE
Trade Licence No. : 6589 (Expires 25/11/2008)
Chamber Member No. : 102774
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Name of Shareholder (s) Percentage
· Aktien
Gesesllschaft Der Dillinger Huttenwerk 100%
Germany
OPERATIONS
Activities: Engaged in the import and distribution of basic steel products and non
ferrous metals.
Import Countries: Germany and China.
Subject has a workforce of 14 employees.
FINANCIAL DATA
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
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Commercial Bank of Dubai
Mankhool Street
PO Box : 2668
Dubai
Tel : (971-4)
3523355
Fax : (971-4)
3527655 / 2524796
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
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.
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%)