MIRA INFORM REPORT

 

 

Report Date :

28.11.2008

 

IDENTIFICATION DETAILS

 

Name :

ANABEEB PIPES MANUFACTURING FACTORIES (HOBAS)

 

 

Registered Office :

Mussafah Industrial Area, Roundabout No. 5, P O Box 46828 & 46231 & 2915, Abu Dhabi

 

 

Country :

United Arab Emirates

 

 

Date of Incorporation :

01.06.1976

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Subject operates high quality pipe production factories for PVC-U, used in applications such as sewerage, potable water, irrigation, drainage and manhole manufacturing.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Maximum Credit Limit :

US$ 1,200,000

 

 

Status :

Good

 

 

Payment Behaviour :

No Complaints 

 

 

Litigation :

Clear

SUMMARY

 

Company Name                                     : ANABEEB PIPES MANUFACTURING FACTORIES (HOBAS)

Country of Origin                                    : Abu Dhabi, United Arab Emirates

Legal Form                                            : Limited Liability Company - LLC

Registration Date                                   : 1st June 1976

Industrial Licence Number                       : 1148

Issued Capital                                        : UAE Dh 50,000,000

Paid up Capital                                      : UAE Dh 50,000,000

Total Workforce                                     : Pipe production

Activities                                               : 450

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

Recommended Credit Limit                     : US$ 1,200,000

 

 

COMPANY NAME

 

ANABEEB PIPES MANUFACTURING FACTORIES (HOBAS)

 

 

ADDRESS

 

Registered & Physical Address

Location            : Mussafah Industrial Area, Roundabout No. 5

PO Box             : 46828 & 46231 & 2915

Town                 : Abu Dhabi

Country             : United Arab Emirates

Telephone         : (971-2) 5554400 / 5544776 / 5554100 / 5554404 / 5826288

Facsimile          : (971-2) 5554531

Email                : info@anabeeb.ae

 

Premises

Subject operates from a large suite of offices and a factory that are owned and located in the Industrial Area of Abu Dhabi.

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Sultan Ghais Al Zubai                                                                                    General Manager

 

·       Mohamed Al Kaff                                                                               Factory Manager

 

·       Mohamed Abdul Ghani                                                                      Commercial Manager

 

·       M. James                                                                                         Sales Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1st June 1976

 

Legal Form                  : Limited Liability Company

 

Industrial Licence No.  : 1148

 

Issued Capital              : UAE Dh 50,000,000

 

Paid up Capital            : UAE Dh 50,000,000

 
Name of Shareholder (s)                                              Percentage

 

·       General Holding Co (GHC)                                             100%

PO Box 4499

Abu Dhabi

Tel: (971-2) 6144444

Fax: (971-2) 6312857

Email: info@ghc.ae

 

 

OPERATIONS

 

Activities: The company operates high quality pipe production factories for PVC-U, used in applications such as

     sewerage, potable water, irrigation, drainage and manhole manufacturing.

 

Production Capacity: 16,000 tonnes per annum

 

Export Countries: GCC countries, Iraq, Yemen, Sudan, Syria and Lebanon

 

Subject has a workforce of approximately 450 employees.

 

 

FINANCIAL DATA

 

Companies registered in Abu Dhabi, 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

 

·       Abu Dhabi Islamic Bank

PO Box 313

Abu Dhabi

Tel: (971-2) 6100600

Fax: (971-2) 6654340

 

 

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.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.84

UK Pound

1

Rs.76.81

Euro

1

Rs.64.38

 

 

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