MIRA
INFORM REPORT
|
Report Date : |
19.12.2008 |
IDENTIFICATION
DETAILS
|
Name : |
MIDDLE EAST TRANSPORT CAR BODIES INDUSTRY MANUFACTURING LLC |
|
|
|
|
Registered Office : |
Al Awir Industrial Area, Dubai |
|
|
|
|
Country : |
United Arab Emirates |
|
|
|
|
Date of Incorporation : |
03.09.2007 |
|
|
|
|
Com. Reg. No.: |
9116, Dubai |
|
|
|
|
Legal Form : |
Limited Liability Company - LLC |
|
|
|
|
Line of Business : |
Manufacture of vehicle bodies, specialising in heavy truck and
trailer bodies |
RATING &
COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Maximum Credit Limit : |
US$ 60,000 |
|
|
|
|
Status : |
New Company |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name :
MIDDLE EAST TRANSPORT CAR BODIES INDUSTRY
MANUFACTURING LLC
Country of Origin :
Dubai, United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date :
3rd September 2007
Commercial Registration Number :
9116, Dubai
Trade Licence Number :
555675
Chamber Membership Number :
79885
Issued Capital :
UAE Dh 300,000
Paid up Capital :
UAE Dh 300,000
Total Workforce :
16
Activities :
Manufacture of vehicle bodies, specialising in heavy truck and trailer
bodies
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
Recommended Credit Limit :
US$ 60,000
COMPANY NAME
MIDDLE EAST TRANSPORT CAR BODIES INDUSTRY MANUFACTURING LLC
ADDRESS
Registered & Physical Address
Location : Al Awir
Industrial Area
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 3200112
/ 3334788
Facsimile : (971-4)
3200102
Mobile : (971-55)
8097244
Email : magnum1@emirates.net.ae
Premises
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Industrial Area of Dubai.
Branch Office (s)
Location Description
Al Saga Area Factory
premises
PO Box 43863
Sharjah
KEY PRINCIPALS
Name Nationality Position
Nasser Abdullah Emirati Managing Director
Kamal Prit Kaur Indian Director
Modfer Sheikh - Administration
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 3rd
September 2007
Legal Form : Limited Liability
Company - LLC
Commercial Reg. No. : 9116, Dubai
Trade Licence No. : 555675 (Expires
03/09/2009)
Chamber Member No. : 79885
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder
(s) Percentage
Nasser Abdullah 51%
Kamal Prit Kaur 49%
OPERATIONS
Activities: Engaged in the manufacture of vehicle bodies, specialising in heavy
truck and trailer bodies.
Import Countries: Europe and the Far East
Subject has a workforce of 16 employees.
FINANCIAL DATA
Subject is a newly formed business and as a result financial information
is not currently available.
BANKERS
National Bank of Umm Al Quwain
Al Aweer Branch
PO Box : 294352
Dubai
Tel : (971-4) 3332003
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Investigations undertaken in the United Arab Emirates did not reveal any
sign of payment defaults or delays during initial trading stages, and subject
is believed to meet its payment obligations in a timely manner, nevertheless,
and in view of the company’s infancy and the lack of a more consistent payment
and financial record, a measure of caution is advisable and a close monitoring
of subject’s business development is recommended.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.47.08 |
|
UK Pound |
1 |
Rs.71.17 |
|
Euro |
1 |
Rs.66.98 |
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%)