MIRA
INFORM REPORT
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Report Date : |
13.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
SUN ENGINEERING & CONTRACTING CO LLC |
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Registered Office : |
Al Qusais Street, Al Qusais Industrial Area, PO Box 5425, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
01.10.1977 |
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Com. Reg. No.: |
40759, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
General Building Contractors |
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 :
SUN ENGINEERING & CONTRACTING CO LLC
Country of Origin :
Dubai, United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date :
1st October 1977
Commercial Registration Number :
40759, Dubai
Trade Licence Number :
216685
Chamber Membership Number :
2605
Issued Capital :
UAE Dh 1,000,000
Paid up Capital :
UAE Dh 1,000,000
Total Workforce :
30
Activities :
General building contractors
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
Recommended Credit Limit :
US$ 150,000
COMPANY NAME
SUN ENGINEERING & CONTRACTING CO LLC
ADDRESS
Registered &
Physical Address
Street : Al Qusais
Street
Area : Al Qusais
Industrial Area
PO Box : 5425
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2673336
Facsimile : (971-4)
2679376
Email : sunengg@emirates.net.ae
Premises
Subject operates from a medium sized suite of offices that are rented
and located in the Industrial Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
· Wasfi Adib Ataya American Managing Director
· Moawiyah Saleh Al
Shunnar Emirati Director
LEGAL FORM & OWNERS
Date of
Establishment : 1st
October 1977
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 40759, Dubai
Trade Licence No. : 216685 (Expires 18/04/2009)
Chamber Member No. : 2605
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Name of Shareholder (s) Percentage
· Moawiyah Saleh Al
Shunnar 51%
· Wasfi Adib Ataya 49%
OPERATIONS
Activities: Engaged as general building contractors.
Import Countries: United States of America and Asia
Subject has a workforce of 30 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
·
Citibank
Khalid Bin Waleed Street
Bur Dubai
PO Box : 749
Dubai
Tel : (971-4) 2522100
Fax : (971-4) 2524942
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.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 42.67 |
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UK Pound |
1 |
Rs.80.92 |
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Euro |
1 |
Rs.63.71 |
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%)