MIRA INFORM REPORT

 

 

Report Date :

23.12.2008

 

IDENTIFICATION DETAILS

 

Name :

R W S CONSTRUCTION (MIDDLE EAST) LLC

 

 

Registered Office :

Crown Plaza Office Tower, 19th Floor, Office No. 190/4, Sheikh Zayed Road, PO Box  62425 & 126237

 

 

Country :

United Arab Emirates

 

 

Date of Incorporation :

18.09.2007

 

 

Com. Reg. No.:

1016213, Dubai

 

 

Legal Form :

Limited Liability Company - LLC

 

 

Line of Business :

General Building and Construction Contractors

 

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$ 100,000

 

 

Status :

Small Company

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

SUMMARY

 

Company Name                                     : R W S CONSTRUCTION (MIDDLE EAST) LLC

Country of Origin                                    : Dubai, United Arab Emirates

Legal Form                                            : Limited Liability Company - LLC

Registration Date                                   : 18th September 2007

Commercial Registration Number            : 1016213, Dubai

Trade Licence Number                            : 600516

Chamber Membership Number                : 123985

Issued Capital                                        : UAE Dh 300,000

Paid up Capital                                      : UAE Dh 300,000

Total Workforce                                     : 25

Activities                                               : General building and construction contractors

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

Recommended Credit Limit                     : US$ 100,000

 

 

 

 

COMPANY NAME

 

R W S CONSTRUCTION (MIDDLE EAST) LLC

 

 

ADDRESS

 

Registered & Physical Address

 

Building             : Crown Plaza Office Tower, 19th Floor, Office No. 190/4

Street               : Sheikh Zayed Road

PO Box             : 62425 & 126237

Town                 : Dubai

Country             : United Arab Emirates

Telephone         : (971-4) 3315289 / 3797061

Facsimile          : (971-4) 3328874 / 3328871 / 3797062

 

Premises

 

Subject operates from a medium sized suite of offices that are rented and located in the Central Business Area of Dubai.

 

 

KEY PRINCIPALS

 

     Name                                                           Nationality                     Position

 

·       Raymond Keith                                             British                           Managing Director

 

·       Salem Awad Salem                                       Emirati                          Director

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 18th September 2007

 

Legal Form                  : Limited Liability Company - LLC

 

Commercial Reg. No.  : 1016213, Dubai

 

Trade Licence No.       : 600516 (Expires 10/09/2009)

 

Chamber Member No. : 123985

 

Issued Capital              : UAE Dh 300,000

 

Paid up Capital            : UAE Dh 300,000

 

Name of Shareholder (s)                                              Percentage

 

·       Salem Awad Salem                                                        51%

 

·       Raymond Keith                                                              49%

 

 

OPERATIONS

 

Activities: Engaged as general building and construction contractors specialising in the fabrication of metal

     structures.

 

Import Countries: United Kingdom, China and India

 

Subject has a workforce of 25 employees.

 

 

FINANCIAL DATA

 

Subject is a newly formed business and as a result financial information is not currently available.

 

 

BANKERS

 

·       Emirates Bank International Ltd

Beniyas Road

Deira

PO Box : 2923

Dubai

Tel : (971-4) 2256256 / 2256900

Fax : (971-4) 2268005 / 2267718

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

Investigations undertaken in Dubai 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.48.49

UK Pound

1

Rs.71.89

Euro

1

Rs.67.86

 

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions