MIRA INFORM REPORT
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Report Date : |
20.11.2008 |
IDENTIFICATION DETAILS
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Name : |
WOOD GROUP ENGINEERING SERVICES |
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Registered Office : |
Hamel Bin Kadem Al Ghaith Building, M 15, Plot No. 31, Mussafah Area, |
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Country : |
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Date of Incorporation : |
16.06.1980 |
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Com. Reg. No.: |
13587 |
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Legal Form : |
Limited Liability
Company |
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Line of Business : |
Supply of oilfield products and chemicals as well as offering related contracting 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$ 200,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : WOOD GROUP ENGINEERING SERVICES
Country of Origin :
Legal Form :
Limited Liability Company - LLC
Registration Date : 16th
June 1980
Commercial
Registration Number : 13587
Trade Licence Number : 4752
Chamber Membership
Number : 6220
Issued Capital : UAE Dh
150,000
Paid up Capital : UAE Dh
150,000
Total Workforce : 56
Activities :
Supply of oilfield products and chemicals as well as
offering related
contracting services
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
Recommended Credit
Limit : US$ 200,000
COMPANY NAME
WOOD GROUP ENGINEERING SERVICES
ADDRESS
Registered &
Physical Address
Building : Hamel Bin
Kadem Al
Area : M 15, Plot
No. 31, Mussafah Area
PO Box : 7312
Town :
Country :
Telephone : (971-2) 5553045
/ 5559303
Facsimile : (971-2)
5559303
Email : wgesauh@emirates.net.ae
Premises
Subject operates from a medium sized suite of offices that are rented
and located in the Industrial Area of Abu Dhabi.
KEY PRINCIPALS
Name Position
· Andy
Gove General
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 16th
June 1980
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 13587
Trade Licence No. : 4752
Chamber Member No. : 6220
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Name of Shareholder
(s)
· Al
Ghaith For Oilfield Services & Supplies
· Wood
Group Engineering Ltd
OPERATIONS
Activities: Engaged in the supply of oilfield products and
chemicals as well as offering related contracting services.
Import Countries:
Subject has a workforce of 56 employees.
FINANCIAL DATA
Companies registered in
BANKERS
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Abu Dhabi Commercial Bank
Mussafah
PO Box : 9331
Tel : (971-2) 5544272
Fax : (971-2) 5544273
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.50.52 |
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1 |
Rs.75.54 |
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Euro |
1 |
Rs.63.12 |
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%)