MIRA
INFORM REPORT
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Report Date : |
30.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
GREEN DOME PETROCHEMICALS |
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Registered Office : |
Hamriyah Free
Zone, PO Box 42542, Sharjah |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
2007 |
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Legal Form : |
Free Zone Company - FZCO |
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Line of Business : |
Manufacture of Petrochemical
Products Specialising in Ammonia |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 50,000 |
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Status : |
New Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : GREEN DOME PETROCHEMICALS
Country of Origin : Sharjah, United Arab Emirates
Legal Form : Free Zone Company - FZCO
Registration Date : 2007
Trade Licence Number : 01462, Hamriyah Free Zone
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Total Workforce : 70
Activities : Manufacture of petrochemical products specialising in ammonia
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 50,000
COMPANY NAME
GREEN DOME
PETROCHEMICALS
ADDRESS
Registered & Physical Address
Location : Hamriyah Free Zone
PO Box : 42542
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 5261180 / 5260983
Facsimile : (971-6) 5261189
Email : gdpuae@gmail.com
Premises
Subject operates
from a medium sized suite of offices and a factory that are rented and located
in the Hamriyah Free Zone, Sharjah.
KEY PRINCIPALS
Name Position
·
Dr
Khalid Hussain Managing
Director
·
Joseph
George Director
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S.R.
Kaman Finance
Manager
LEGAL FORM & OWNERS
Date of Establishment : 2007
Legal Form :
Free Zone Company - FZCO
Trade Licence No. : 01462, Hamriyah Free Zone
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Name of Shareholder (s)
·
Dr
Khalid Hussain
·
Joseph
George
AFFILIATED COMPANIES
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Oman
Chemicals Co
Muscat
Oman
OPERATIONS
Activities: Engaged in the manufacture of petrochemical products specialising in ammonia.
Subject has a
workforce of 70 employees.
FINANCIAL DATA
Subject is a newly
formed business and as a result financial information is not currently
available.
BANKERS
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Middle East
Bank Ltd
Al Boorj Avenue
PO Box : 5169
Sharjah
Tel : (971-6) 5356166
Fax : (971-6) 5356492
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
In view of
subject’s infancy, extensive payment and financial are not available, therefore
dealings are recommended to be on secured terms, and a close monitoring of
subject’s business development is advisable.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.79 |
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UK Pound |
1 |
Rs.80.05 |
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Euro |
1 |
Rs.64.56 |
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%)