MIRA
INFORM REPORT
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Report Date : |
05.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
ASWAN INTERNATIONAL ENGINEERING CO LLC |
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Registered Office : |
Dubai Investment
Park, Emirates Street, Jebel Ali PO Box 286 & 31550, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
08.12.1993 |
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Com. Reg. No.: |
41095, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Repair and maintenance of marine equipment, ships and
boats |
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$ 500,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : ASWAN INTERNATIONAL ENGINEERING CO LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Start Date : 1979
Registration Date : 8th December 1993
Commercial Registration Number : 41095, Dubai
Trade Licence Number : 300758
Chamber Membership Number : 28942
Issued Capital : UAE Dh 2,000,000
Paid up Capital : UAE Dh 2,000,000
Total Workforce : 300
Activities : Repair and maintenance of marine equipment, ships and boats
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 500,000
COMPANY NAME
ASWAN INTERNATIONAL
ENGINEERING CO LLC
ADDRESS
Registered & Physical Address
Building : Dubai Investment Park
Street : Emirates Street
Area : Jebel Ali
PO Box :
286 & 31550
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2852465 / 8851300
Facsimile : (971-4) 3470854
Email : pfpiaofc@emirates.net.ae
Premises
Subject operates from
a large suite of offices and a workshop that are rented and located in the
Industrial Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
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Mohamed
Abdullah Mohamed Al Shirawi Emirati Managing
Director
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Ali Abdullah
Mohamed Al Shirawi Emirati Director
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Hisham
Abdullah Mohamed Al Shirawi Emirati Director
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Khalid
Abdullah Mohamed Abdullah Al Shirawi Emirati Director
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Thani Abdullah
Mohamed Al Shirawi Emirati Director
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Kabir Mohan
Valrani Indian Director
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Navin Mohan
Valrani Indian Director
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Sumeet Mohan
Valrani Indian Director
LEGAL FORM & OWNERS
Date of Establishment : Subject’s
operations date back to 1979, however it was registered on 8th
December 1993
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 41095, Dubai
Trade Licence No. : 300758
(Expires 17/08/2008)
Chamber Member No. : 28942
Issued Capital : UAE Dh 2,000,000
Paid up Capital : UAE Dh 2,000,000
Name of Shareholder (s) Percentage
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Beachmount
Limited 15.33%
Norfolk Island
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Milton Limited 15.00%
Norfolk Island
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Mohamed
Abdullah Mohamed Al Shirawi 11.67%
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Ali Abdullah
Mohamed Al Shirawi 10.00%
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Hisham
Abdullah Mohamed Al Shirawi 10.00%
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Khalid Abdullah
Mohamed Abdullah Al Shirawi 10.00%
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Thani Abdullah
Mohamed Al Shirawi 10.00%
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Kabir Mohan
Valrani 6.00%
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Navin Mohan
Valrani 6.00%
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Sumeet Mohan
Valrani 6.00%
OPERATIONS
Activities: Engaged in the repair and maintenance of
marine equipment, ships and boats, as well as the coating of metal products.
Import
Countries: Switzerland,
United States of America, South Korea and Asia
Subject has a
workforce of approximately 300 employees.
FINANCIAL DATA
Companies registered
in Dubai, 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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Emirates Bank
International Ltd
Jebel Ali Free Zone Branch
PO Box: 2923
Dubai
Tel: (971-4) 8815551
Fax: (971-4) 8815545
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 and the above credit figure is
within subject’s financial means.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.21 |
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UK Pound |
1 |
Rs.85.72 |
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Euro |
1 |
Rs.67.92 |
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%)