MIRA INFORM REPORT

 

 

Report Date :

24.11.2008

 

IDENTIFICATION DETAILS

 

Name :

DILLINGER MIDDLE EAST FZE

 

 

Registered Office :

Sheikh Zayed Road, Jebel Ali Free Zone, PO Box 17592, Dubai

 

 

Country :

United Arab Emirates

 

 

Date of Incorporation :

29.11. 2005

 

 

Legal Form :

Free Zone Establishment - FZE

 

 

Line of Business :

Import and Distribution of Basic Steel Products and Non Ferrous Metals.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

US$ 150,000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

 

 

 

SUMMARY

 

Company Name                                     : DILLINGER MIDDLE EAST FZE

Country of Origin                                    : Dubai, United Arab Emirates

Legal Form                                            : Free Zone Establishment - FZE

Registration Date                                   : 29th November 2005

Trade Licence Number                            : 6589

Chamber Membership Number                : 102774

Issued Capital                                        : UAE Dh 1,000,000

Paid up Capital                                      : UAE Dh 1,000,000

Total Workforce                                     : 14

Activities                                               : Import and distribution of basic steel products and non ferrous metals.

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

Recommended Credit Limit                     : US$ 150,000

 

COMPANY NAME

 

DILLINGER MIDDLE EAST FZE

 

 

ADDRESS

 

Registered & Physical Address

 

Street               : Sheikh Zayed Road

Area                 : Jebel Ali Free Zone

PO Box             : 17592

Town                 : Dubai

Country             : United Arab Emirates

Telephone         : (971-4) 8833894

Facsimile          : (971-4) 8833895

Email                : sales@dme.dillinger.biz

 

 

Premises

 

Subject operates from a small suite of offices and a warehouse that are rented and located in the Jebel Ali Free Zone.

 

 

KEY PRINCIPALS

 

     Name                                                           Nationality                     Position

 

·       Ranadhir Venugopal Selthukutty                        Indian                         Managing Director

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 29th November 2005

 

Legal Form                  : Free Zone Establishment - FZE

 

Trade Licence No.       : 6589 (Expires 25/11/2008)

 

Chamber Member No. : 102774

 

Issued Capital              : UAE Dh 1,000,000

 

Paid up Capital            : UAE Dh 1,000,000

 

Name of Shareholder (s)                                              Percentage

 

·       Aktien Gesesllschaft Der Dillinger Huttenwerk                  100%

     Germany

 

OPERATIONS

 

Activities: Engaged in the import and distribution of basic steel products and non ferrous metals.

 

Import Countries: Germany and China.

 

Subject has a workforce of 14 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

 

·       Commercial Bank of Dubai

Mankhool Street

PO Box : 2668

Dubai

Tel : (971-4) 3523355

Fax : (971-4) 3527655 / 2524796

 

 

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

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.50.09

UK Pound

1

Rs.74.90

Euro

1

Rs.63.40

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions