MIRA
INFORM REPORT
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Report Date : |
30.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
AL JABER IRON & STEEL FOUNDRY LLC |
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Registered Office : |
Al Jaber Group
Building, Mussafah Industrial Area, PO Box
2175, Abu Dhabi |
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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 : |
23.07. 1998 |
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Com. Reg. No.: |
38211, Abu Dhabi |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Manufacture of Iron and Steel Castings. |
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 : AL JABER IRON & STEEL FOUNDRY LLC
Country of Origin : Abu Dhabi, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 23rd July 1998
Commercial Registration Number : 38211, Abu Dhabi
Trade Licence Number : 57808
Chamber Membership Number : 76356
Issued Capital : UAE Dh 250,000
Paid up Capital : UAE Dh 250,000
Total Workforce : 105
Activities : Manufacture of iron and steel castings.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 500,000
COMPANY NAME
AL JABER IRON & STEEL FOUNDRY LLC
ADDRESS
Registered & Physical Address
Building : Al Jaber Group Building
Area : Mussafah
Industrial Area
PO Box : 2175
Town : Abu Dhabi
Country : United Arab Emirates
Telephone : (971-2) 5541524 / 5554300 / 5553707
Facsimile : (971-2) 5553370
Email : ajefndry@eim.ae
Premises
Subject operates
from a medium sized suite of offices and a factory that are owned and located
in the Industrial Area of Abu Dhabi.
KEY PRINCIPALS
Name Position
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Obaid
Khalifa Al Jaber Al Muhary Managing
Director
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Mohamed
Obaid Khalifa Al Jaber Al Muhary Director
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Sushil
Kumar Saxena General
Manager
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Palani
Kumar Sami Commercial
Manager
LEGAL FORM & OWNERS
Date of Establishment : 23rd
July 1998
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 38211, Abu
Dhabi
Trade Licence No. : 57808
Chamber Member No. : 76356
Issued Capital : UAE Dh 250,000
Paid up Capital : UAE Dh 250,000
Name of Shareholder (s)
·
Obaid
Khalifa Al Jaber Al Muhary
·
Mohamed
Obaid Khalifa Al Jaber Al Muhary
OPERATIONS
Activities: Engaged in the manufacture of iron and
steel castings.
Import
Countries: India and Japan
Operating Trend: Steady
Subject has a
workforce of approximately 105 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
22,400,000 UAE Dh
25,000,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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HSBC Bank
Middle East
PO Box : 242
Abu Dhabi
Tel : (971-2) 6147259
Fax : (971-2) 6331564
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.
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%)