MIRA
INFORM REPORT
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Report Date : |
18.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
EDGEN MURRAY FZE |
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Registered Office : |
Sheikh Zayed Road, Roundabout No. 13, Jebel Ali Free Zone, PO Box 61225, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
13.03.2000 |
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Com. Reg. No.: |
1466, Dubai |
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Legal Form : |
Free Zone Establishment - FZE |
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Line of Business : |
Import and Distribution of Basic Steel 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$ 900,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : EDGEN MURRAY FZE
Country of Origin : Dubai, United Arab Emirates
Legal Form : Free Zone Establishment - FZE
Registration Date : 13th March 2000
Commercial Registration Number : 1466, Dubai
Trade Licence Number : 2252
Chamber Membership Number : 57202
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Total Workforce : 30
Activities : Import and distribution of basic steel products
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 900,000
COMPANY NAME
EDGEN MURRAY FZE
ADDRESS
Registered & Physical Address
Street : Sheikh Zayed
Road, Roundabout No. 13
Area : Jebel Ali
Free Zone
PO Box : 61225
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 8834486
Facsimile : (971-4)
8834507
Email : dubai@edgenmurray.ae
Premises
Subject operates from a medium sized suite of offices and a warehouse
that are rented and located in the Jebel Ali Free Zone.
KEY PRINCIPALS
Name Position
· Ken Kobborn Managing
Director
LEGAL FORM & OWNERS
Date of Establishment : 13th
March 2000
History : Subject was
originally established in 2000 under the name of “Murray International Metals
Middle East (MIM)”. However in 2005 subject was re-registered under the current
style of “Edgen Murray FZE”
Legal Form : Free Zone
Establishment - FZE
Commercial Reg.
No. : 1466, Dubai
Trade Licence No. : 2252 (Expires 14/05/2009)
Chamber Member No. : 57202
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Name of Shareholder (s)
· Murray International
Metals Limited
Murray Works,
Newbridge Industrial Estate
Newbridge,
Midlothian
EH28 8PJ
United
Kingdom
Tel:
(44-131) 3333333
Fax:
(44-131) 3334477
OPERATIONS
Activities: Engaged in the import and distribution of basic steel products, including
abrasive resistant pipes, carbon products, nickel alloys, structural steel
products and welded tubulars.
Import Countries: United Kingdom and the United States of America
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
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The Standard Chartered Bank
Jebel Ali Free Zone
PO Box : 999
Dubai
Tel : (971-4) 8856600
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.43.23 |
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UK Pound |
1 |
Rs.80.89 |
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Euro |
1 |
Rs.63.80 |
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%)