MIRA
INFORM REPORT
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Report Date : |
27.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
EMPHOR FZCO |
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Registered Office : |
Sheikh Zayed
Road, Jebel Ali Free Zone, PO Box
61232, Dubai |
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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 : |
08.12. 2003 |
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Legal Form : |
Free Zone Company - FZCO |
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Line of Business : |
Import and Distribution of Scientific and Laboratory Equipment, Marine Instruments, Industrial Plant Equipment and Telecommunications |
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 : EMPHOR FZCO
Country of Origin : Dubai, United Arab Emirates
Legal Form : Free Zone Company - FZCO
Registration Date : 8th December 2003
Trade Licence Number : 4050
Chamber Membership Number : 82684
Issued Capital : UAE Dh 500,000
Paid up Capital : UAE Dh 500,000
Total Workforce : 9
Activities : Import and distribution of scientific and laboratory equipment, marine
instruments, industrial plant equipment and telecommunications
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
EMPHOR FZCO
ADDRESS
Registered & Physical Address
Street : Sheikh Zayed Road
Area : Jebel Ali Free Zone
PO Box : 61232
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 8830233
Facsimile : (971-4) 8830133
Email : emphor@emirates.net.ae
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in the
Jebel Ali Free Zone, Dubai.
KEY PRINCIPALS
Name Nationality Position
·
Cheruparambath
Prabhakara Menon Vidya Sagaran Indian Managing
Director
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Indira
Thottungal Parambath Indian Director
·
Sanjay Ragunat Indian Director
·
Seetha Sagaran Indian General
Manager
LEGAL FORM & OWNERS
Date of Establishment : 8th
December 2003
Legal Form :
Free Zone Company - FZCO
Trade Licence No. : 4050
(Expires 07/12/2008)
Chamber Member No. : 82684
Issued Capital : UAE Dh 500,000
Paid up Capital : UAE Dh 500,000
Name of Shareholder (s) Percentage
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Cheruparambath
Prabhakara Menon Vidya Sagaran 40%
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Indira
Thottungal Parambath 20%
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Sanjay Ragunat 20%
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Seetha Sagaran 20%
OPERATIONS
Activities: Engaged in the import and distribution of
scientific and laboratory equipment, marine instruments,
industrial plant equipment
and telecommunications.
Import
Countries: Germany, United
States of America and India
Operating Trend: Steady
Subject has a
workforce of 9 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 8,800,000 UAE Dh 10,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
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Mashreq Bank
Plc
Deira Branch
PO Box : 1250
Dubai
Tel : (971-4) 2229131 / 2221134
Fax : (971-4) 2233784
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 and the above credit figure is
within subject’s financial means.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.73 |
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UK Pound |
1 |
Rs.80.57 |
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Euro |
1 |
Rs.64.29 |
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%)