MIRA
INFORM REPORT
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Report Date : |
06.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
GAMMA LINE INTERNATIONAL |
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Registered Office : |
Saif Zone,
Building P6 32 & 33, PO Box 120221,
Sharjah |
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Country : |
United Arab Emirates |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
28.02.2006 |
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Legal Form : |
Free Zone Company - FZCO |
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Line of Business : |
Manufacture of Air Grills |
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 : GAMMA LINE INTERNATIONAL
Country of Origin : Sharjah, United Arab Emirates
Legal Form : Free Zone Company - FZCO
Registration Date : 28th February 2006
Trade Licence Number : 03724, Saif Zone
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Total Workforce : 132
Activities : Manufacture of air grills
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
GAMMA LINE INTERNATIONAL
ADDRESS
Registered &
Physical Address
Location : Saif Zone,
Building P6 32 & 33
PO Box : 120221
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 5572229
Facsimile : (971-6)
5572525
Mobile : (971-50)
6448759
Email : sales.ae@gammaline.com
Premises
Subject operates from a medium sized suite of offices and a factory that
are rented and located in the Saif Zone.
KEY PRINCIPALS
Name Nationality Position
· Ibrahim
Mohamed Maliki Syrian Managing Director
· Ayman
Mohamed Malilki Syrian Director
· Bashar
Abdul Malek Syrian Director
· Mohamed
Sayed Mohamed Jarrah Syrian Director
LEGAL FORM & OWNERS
Date of
Establishment : 28th
February 2006
Legal Form : Free Zone Company
- FZCO
Trade Licence No. : 03724, Saif Zone
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Name of Shareholder (s)
· Ibrahim
Mohamed Maliki
· Ayman
Mohamed Malilki
· Bashar
Abdul Malek
· Mohamed
Sayed Mohamed Jarrah
AFFILIATED COMPANIES
· Gamma
Line International
PO Box 33435
Damascus
Tel: (966-11) 5231895
Fax:
(966-11) 5216853
OPERATIONS
Activities: Engaged in the manufacture of air grills from
anodised aluminium profiles for air conditioning.
Import Countries: Germany and India
Subject has a workforce of 132 employees.
FINANCIAL DATA
Financial highlights provided by local sources are given below:
Currency: United Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/07:
Total Sales UAE
Dh 15,000,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
BANKERS
·
Emirates Bank International Ltd
Immigration Road
PO Box : 25090
Sharjah
Tel : (971-6)
733300
Fax : (971-6)
730077
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Gamma Line International is a relatively new
business with operations commencing in February 2006. It is engaged in the manufacture of air grills.
According to local sources subject is making steady progress
in the local business market and nothing detrimental has been reported
regarding the manner in which payments are fulfilled. As such the business is
considered to be a fair trade risk.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 42.00 |
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UK Pound |
1 |
Rs. 82.14 |
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Euro |
1 |
Rs. 65.09 |
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%)