MIRA
INFORM REPORT
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Report Date : |
31.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
RAM METAL INDUSTRIES LLC |
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Registered Office : |
Sheikh Zayed Road, Al Quoz Industrial Area, PO Box 50182, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
24th September 1990 |
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Com. Reg. No.: |
42969, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Manufacturers of metal building products and false ceilings |
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 : RAM METAL INDUSTRIES LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 24th September 1990
Commercial Registration Number : 42969, Dubai
Trade Licence Number : 300469
Membership Number : 20092
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 185
Line of Business : Manufacturers of metal building products and false ceilings.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
RAM METAL INDUSTRIES LLC
ADDRESS
Registered & Physical Address
Street : Sheikh Zayed
Road
Area : Al Quoz
Industrial Area
PO Box : 50182
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 3472210
Facsimile : (971-4)
3473865
Email : rammetal@emirates.net.ae
Premises
Subject operates from a large suite of offices and a factory that are
rented and located in the Industrial Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
· Ghais Samir Al
Rais Lebanese Managing Director
· Humaid Mohamed
Redha Alansari Emirati Director
LEGAL FORM & OWNERS
Date of
Establishment : 24th
September 1990
Legal Form : Sharikat Thet
Massouliya Mahdoudeh (Limited Liability Company - LLC)
Commercial Reg.
No. : 42969, Dubai
Trade Licence No. : 300469 (Expires 27th February
2008)
Membership No. : 20092
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
· Humaid Mohamed
Redha Alansari 51%
· Ghais Samir Al
Rais 49%
Note to the Legal Form
A Limited Liability Company (LLC) is defined in the Company Law as a
company incorporated with not less than
two and not more than fifty shareholders, each responsible only for the
liabilities of the company to the extent of their share participation in the
capital of the company.
The Company Law provides that the capital of a Limited Liability Company
(LLC) should not be less than UAE Dh
300,000, which should be divided into equal shares of a value not less than UAE
Dh 100 each.
This type of company may engage in any form of legitimate business, with
the exception of insurance, banking and investment of funds.
Non UAE Participation
The participation of non-Emirati in a trade or business in the United
Arab Emirates is governed by the
Foreign Business Investment Law, which sets capital requirements and
requires 51 percent Emirati participation in capital and profits.
It is common for the 51 percent to be held by the UAE national on paper
only with the foreign partner(s) providing all the capital requirements for the
company and paying an annual fee to the local partner.
Under this arrangement the above ownership may not reflect the actual
profit distribution within the company, as the company may have internal
management agreements in place that provides full management of the company in
return for a share of the company’s assets and profits. This internal
relationship may or may not be recognised by law depending on the way the
internal agreement is made.
LINE OF BUSINESS
Operations: Engaged in the manufacture of metal building products and false
ceilings.
Import Countries : Europe and the Far East.
Operating Trend : Steady
Subject has a workforce of 185 employees.
FINANCIAL HIGHLIGHTS
Financial highlights provided by outside sources are given below :
Currency : United Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/05 : Year
Ending 31/12/06 :
Total Revenue UAE
Dh 47,000,000 UAE
Dh 52,000,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
·
National Bank of Dubai
Baniyas Street
PO Box :
777
Dubai
Tel :
(971-4) 2222241
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 150,000:
Established in 1990, subject is owned and managed by Mr Ghais Samir Al
Rais, a Lebanese national who operates in Dubai under the local sponsorship of
Mr Humaid Mohamed Redha Alansari.
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 deemed to be within subject’s financial means.
Maximum suggested credit figure: US$ 300,000
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%)