MIRA
INFORM REPORT
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Report Date : |
17.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
EMIRATES FENCING |
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Registered Office : |
Sheikh Hamad Bin
Tahnoon Al Nahyan Building, Corniche Road, PO Box 42990 & 47450, Abu
Dhabi |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
26th August 2002 |
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Com. Reg. No.: |
50885, Abu Dhabi |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors and installers of barbed wire and fencing materials. |
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$ 250,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : EMIRATES FENCING
Country of Origin : Abu Dhabi, United Arab Emirates
Legal Form : Sole Proprietorship
Registration Date : 26th August 2002
Commercial Registration Number : 50885, Abu Dhabi
Trade Licence Number : 74490
Membership Number : 94138
Invested Capital : UAE Dh 150,000
Total Workforce : 300
Line of Business : Distributors and installers of barbed wire and
fencing materials.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
EMIRATES FENCING
ADDRESS
Registered & Physical Address
Building : Sheikh Hamad Bin Tahnoon Al
Nahyan Building
Street : Corniche Road
PO Box : 42990 & 47450
Town : Abu Dhabi
Country : United Arab Emirates
Telephone : (971-2) 6813555 / 6813200
Facsimile : (971-2) 6811234
Email : sami_fence@un-uae.com
Premises
Subject operates
from a large suite of offices that are rented and located in the Central
Business Area of Abu Dhabi.
Branch Office
(s)
Location Description
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Al Quoz
Industrial Area Rented
warehouse premises
Dubai
Tel : (971-4) 2688908
Fax : (971-4) 2688907
KEY PRINCIPALS
·
Dhafer Al
Ahbabi Proprietor
& General Manager
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Nasser Al
Khatib Assistant
General Manager
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Sami Saleem Sales
Manager
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Ayman
Jadadllah Project
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 26th
August 2002
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 50885, Abu
Dhabi
Trade Licence No. : 74490
Membership No. : 94138
Invested Capital
: UAE Dh 150,000
Mr Dhafer Al Ahbabi
is the sole proprietor of the business.
Note to the Legal
Form
Commonly referred to as an establishment, the Company Law defines
Mouassasa Khassa as the business of an individual where liability for all debts
is unlimited. The business is the entire responsibility of its proprietor, who
is liable for all its debts to the extent of his entire wealth. There are no
legal requirements concerning the amount of capital of a sole proprietor.
LINE OF BUSINESS
Operations : Engaged in the import, distribution and
installation of barbed wire and fencing
materials.
Import Countries
: Europe and GCC countries.
Subject has a
workforce of approximately 300 employees.
FINANCIAL HIGHLIGHTS
Companies registered
in Abu Dhabi, United Arab Emirates are not legally required to make their
accounts public and no financial information was released by the company or
submitted by outside sources.
BANKERS
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Abu Dhabi
Commercial Bank
Corniche Street
PO Box : 2054
Abu Dhabi
Tel : (971-2) 6275500
Fax : (971-2) 6275400
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 150,000:
Established in
2002, subject is involved in the import, distribution and installation of
barbed wire and fencing materials.
Local sources
report that payment obligations are met in a generally timely manner and the
operating history is clear. As such the business is deemed a fair trade risk and
the above credit figure is considered to be within subject’s financial means.
Maximum suggested
credit figure: US$ 250,000
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%)