MIRA
INFORM REPORT
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Report Date : |
23.12.2008 |
IDENTIFICATION DETAILS
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Name : |
UNIVERSAL PROJECTS CORPORATION |
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Registered Office : |
New |
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Country : |
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Year of Establishment : |
1985 |
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Com. Reg. No.: |
1010107079, |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Import and Distribution of Electrical Equipment and
Supplies as well as Offering Electromechanical Contracting Services |
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$ 300,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : UNIVERSAL PROJECTS CORPORATION
Country of Origin :
Legal Form : Limited Liability Partnership
Registration Date : 1985
Commercial Registration Number : 1010107079,
Chamber Membership Number : 49649
Issued Capital : SR 500,000
Paid up Capital : SR 500,000
Total Workforce : 65
Activities : Import and distribution of electrical equipment and supplies as well as
offering electromechanical contracting services
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 300,000
COMPANY NAME
UNIVERSAL PROJECTS
CORPORATION
ADDRESS
Registered & Physical Address
Building : New
Area : Al
Malaz District
PO Box : 58704
Town :
Country :
Telephone : (966-1) 4191717 / 4647160 / 4191688 /
4600194 / 4191741
Facsimile : (966-1) 4191747
Email : info@universalprojectscorp.com
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Riyadh.
KEY PRINCIPALS
Name Position
·
Abdullah Mohamed Al Rubyyan Managing
Partner
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Fahd Mohamed Al Rubyyan Partner
·
Majid Mohamed Al Rubyyan Partner
·
Javid Hussain General
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1985
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 1010107079,
Chamber Member No. : 49649
Issued Capital : SR 500,000
Paid up Capital : SR 500,000
Name of Partner (s)
·
Abdullah Mohamed Al Rubyyan
·
Fahd Mohamed Al Rubyyan
·
Majid Mohamed Al Rubyyan
OPERATIONS
Activities: Engaged in the import and distribution of electrical
equipment and supplies as well as offering
electromechanical contracting
services.
Import
Countries:
International
Suppliers:
·
Deepak Fasteners Limited –
·
Elpro International Limited –
·
Ravin Cables Ltd. –
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Ucil Synchem Pvt. Ltd. -
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Holley Metering Ltd. –
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Ningbo Liaoyuan Lighting Company Ltd. -
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Subject has a
workforce of 65 employees.
FINANCIAL DATA
Companies
registered in
BANKERS
·
Saudi
British Bank
Tel: (966-1) 4050677
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.48.49 |
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|
1 |
Rs.71.89 |
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Euro |
1 |
Rs.67.86 |
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%)