MIRA
INFORM REPORT
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Report Date : |
10.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
ZF MARINE MIDDLE EAST LLC |
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Registered Office : |
Al Jubail Area,
PO Box 26093, Sharjah |
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Country : |
United Arab Emirates |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
1998 |
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Com. Reg. No.: |
32129, Sharjah |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Wholesale of Marine Equipment as
well as Providing Ship Maintenance
and Repair 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$ 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : ZF MARINE MIDDLE EAST LLC
Country of Origin : Sharjah, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 1998
Commercial Registration Number : 32129, Sharjah
Trade Licence Number : 124108
Chamber Membership Number : 42249
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Total Workforce : 10
Activities :
Wholesale of marine equipment as well as providing ship maintenance and repair
services
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
ZF MARINE MIDDLE
EAST LLC
ADDRESS
Registered & Physical Address
Location : Al Jubail Area
PO Box : 26093
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 5747074
Facsimile : (971-6) 5747174
Email : zfmarine@emirates.net.ae
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Suburban Business Area of Sharjah.
KEY PRINCIPALS
Name Nationality Position
·
Sheikh
Mohamed Bin Salim Sultan Emirati Managing
Director
·
M.
Narasimhen - General
Manager
·
A.
T. Moorthy - Commercial
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1998
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 32129, Sharjah
Trade Licence No. : 124108
Chamber Member No. : 42249
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Name of Shareholder (s) Percentage
·
Sheikh
Mohamed Bin Salim Sultan 51%
·
ZF
Badova 49%
Italy
OPERATIONS
Activities: Engaged in the wholesale of marine equipment as well as providing ship maintenance
and repair services.
Import
Countries: India and Asia
Operating Trend: Steady
Subject has a
workforce of 10 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency: United
Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/06: Year
Ending 31/12/07:
Total Sales UAE Dh
11,280,000 UAE Dh 13,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Emirates Bank
International Ltd
Immigration Road
PO Box : 25090
Sharjah
Tel : (971-6) 733300
Fax : (971-6) 730077
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.43.16 |
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UK Pound |
1 |
Rs.85.51 |
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Euro |
1 |
Rs.67.95 |
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%)