MIRA INFORM REPORT
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Report Date : |
24.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
GHADEER MINERAL WATER CO LLC |
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Registered Office : |
Dibba Area, P O Box 13045, Fujairah |
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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 : |
06.09.2000 |
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Com. Reg. No.: |
61641 |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Production and Bottling of Mineral Water |
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$ 400,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name :
GHADEER MINERAL WATER CO LLC
Country of Origin :
Fujairah, United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date :
6th September 2000
Commercial Registration Number :
61641
Trade Licence Number :
1378
Industrial Licence Number :
2267
Chamber Membership Number : 2520
Issued Capital :
UAE Dh 500,000
Paid up Capital :
UAE Dh 500,000
Total Workforce :
66
Activities :
Production and bottling of mineral water
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Recommended Credit Limit :
US$ 400,000
COMPANY NAME
GHADEER MINERAL WATER CO LLC
ADDRESS
Registered &
Physical Address
Location : Dibba Area
PO Box : 13045
Town : Fujairah
Country : United Arab Emirates
Telephone : (971-9) 2442470
/ 2441088
Facsimile : (971-9)
2442471
Email : ghadeer@emirates.net.ae
Premises
Subject operates from a medium sized suite of offices and a bottling
plant that are owned and located in the of Fujairah.
KEY PRINCIPALS
Name Position
· Buti
Al Ghandi Managing
Director
· Saeed
Al Ragabani Director
· Antony
Power General
Manager
· Dalia
Thamer Commercial
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 6th
September 2000
Legal Form : Limited Liability
Company - LLC
Commercial Reg. No. : 61641
Trade Licence No. : 1378
Industrial Licence
No. : 2267
Chamber Member No. : 2520
Issued Capital : UAE Dh 500,000
Paid up Capital : UAE Dh 500,000
Name of Shareholder (s)
· Buti
Al Ghandi
· Saeed
Al Ragabani
OPERATIONS
Activities: Engaged in the production and bottling of
mineral water.
Import Countries: India and Japan
Brand Names: GHADEER
Operating Trend: Steady
Subject has a workforce of 66 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 12,500,000 UAE Dh
15,000,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures were confirmed by Dalia
Thamer, Commercial Manager.
BANKERS
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National Bank of Fujairah
PO Box 887
Fujairah
Tel : (971-9) 2224518 / 2224513
Fax : (971-9) 2224516 / 2229470
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. 41.96 |
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UK Pound |
1 |
Rs.83.78 |
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Euro |
1 |
Rs.65.82 |
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%)