MIRA
INFORM REPORT
|
Report Date : |
21.08.2008 |
IDENTIFICATION
DETAILS
|
Name : |
SHARJAH OXYGEN COMPANY EST |
|
|
|
|
Registered Office : |
Green Belt,
Industrial Area No. 1, PO Box 800,
Sharjah |
|
|
|
|
Country : |
United Arab Emirates |
|
|
|
|
Financials (as on) : |
31.12.2007 |
|
|
|
|
Date of Incorporation : |
18.11.1980 |
|
|
|
|
Com. Reg. No.: |
3673, Sharjah |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Manufacturers of Medical and Specialty Gases |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
US$ 300,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name : SHARJAH OXYGEN COMPANY EST
Country of Origin : Sharjah, United Arab Emirates
Legal Form : Sole Proprietorship
Registration Date : 18th November 1980
Commercial Registration Number : 3673, Sharjah
Trade Licence Number : 3115
Chamber Membership Number : 7439
Invested Capital : UAE Dh 700,000
Total Workforce : 170
Activities : Manufacturers of medical and specialty gases.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 300,000
COMPANY NAME
SHARJAH OXYGEN
COMPANY EST
ADDRESS
Registered & Physical Address
Location : Green Belt, Industrial Area No. 1
PO Box : 800
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 5337591 / 5336481
Facsimile : (971-6) 5330942
Email : soc@emirates.net.ae
Premises
Subject operates
from a large suite of offices and a factory that are rented and located in the
Industrial Area of Sharjah.
Branch Office (s)
Subject has branch offices located in Abu Dhabi, Dubai, Al Ain and Ras
Al Khaimah.
KEY PRINCIPALS
·
Anwar
Fambre Asadi Proprietor
& General Manager
·
Emad
Awad Assistant
General Manager
LEGAL FORM & OWNERS
Date of Establishment : 18th
November 1980
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 3673, Sharjah
Trade Licence No. : 3115
(Expires 27th October 2009)
Chamber Member No. : 7439
Invested Capital
: UAE Dh 700,000
Mr Anwar Fambre Asadi is the sole proprietor of the
business.
OPERATIONS
Activities: Engaged in the manufacture and supply of
medical and specialty gases, including medical oxygen, nitrous oxide, medical
gas mixture and dry ice.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 170 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:
Total Sales UAE Dh
33,700,000 UAE Dh
40,000,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
·
Standard
Chartered Bank
Al Boorj Avenue
PO Box : 5
Sharjah
Tel : (971-6) 5357788
Fax : (971-6) 5543604
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in
1980, subject is involved in the manufacture and supply of medical and
specialty gases, including medical oxygen, nitrous oxide, medical gas mixture
and dry ice.
Local sources
report that payment obligations are met in a generally timely manner and the
operating history is clear. As such the company is deemed a fair trade risk and
the above credit figure is considered to be within subject’s financial means.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.43.58 |
|
UK Pound |
1 |
Rs.81.43 |
|
Euro |
1 |
Rs.64.52 |
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%)