MIRA
INFORM REPORT
|
Report Date : |
15.09.2008 |
IDENTIFICATION
DETAILS
|
Name : |
OASIS PURE WATER FACTORY LLC |
|
|
|
|
Registered Office : |
Sheikh Zayed
Road, Jebel Ali Free Zone, PO Box
61130, Dubai |
|
|
|
|
Country : |
United Arab Emirates |
|
|
|
|
Financials (as on) : |
31.12.2007 |
|
|
|
|
Date of Incorporation : |
20.05.1998 |
|
|
|
|
Com. Reg. No.: |
50988, Dubai |
|
|
|
|
Legal Form : |
Limited Liability Company - LLC |
|
|
|
|
Line of Business : |
Bottling of Mineral Water as well as the Purification of
Portable Water and the Manufacture of Plastic Bottles and Containers |
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$ 250,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name : OASIS PURE WATER FACTORY LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 20th May 1998
Commercial Registration Number : 50988, Dubai
Trade Licence Number : 504744
Chamber Membership Number : 48728
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 250
Activities : Bottling of mineral water as well as the purification of portable water and the manufacture of plastic bottles and containers
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 250,000
COMPANY NAME
OASIS PURE WATER
FACTORY LLC
ADDRESS
Registered & Physical Address
Street : Sheikh Zayed Road
Area : Jebel Ali Free Zone
PO Box : 61130
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 8845522
Facsimile : (971-4) 8845660
Email : oasiswtr@emirates.net.ae
Premises
Subject operates
from a large suite of offices and a factory that are rented and located in the
Jebel Ali Free Zone, Dubai.
Branch Office
(s)
Location Description
·
Sharjah Sales
Office
Tel: (971-6) 5344646
Fax: (971-6) 5347000
·
Abu Dhabi Sales
Office
Tel: (971-2) 5582030
Fax: (971-2) 5582669
·
Al Ain Sales
Office
Tel: (971-3) 7825181
Fax: (971-3) 7825304
KEY PRINCIPALS
Name Nationality Position
·
Fadi Georges
Antonios Lebanese Managing Director
LEGAL FORM & OWNERS
Date of Establishment : 20th
May 1998
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 50988, Dubai
Trade Licence No. : 504744
(Expires 23/03/2009)
Chamber Member No. : 48728
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
·
Bin Hamooda
Company 51%
Abu Dhabi
United Arab Emirates
·
Fadi Georges
Antonios 49%
OPERATIONS
Activities: Engaged in the bottling of mineral water as
well as the purification of portable water and the manufacture of plastic
bottles and containers.
Import
Countries: India and Europe
Operating Trend: Steady
Subject has a
workforce of approximately 250 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
56,250,000 UAE Dh
58,900,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
United Arab
Bank
Deira Branch
Dubai
Tel: (971-4) 2220181
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.46.63 |
|
UK Pound |
1 |
Rs.83.76 |
|
Euro |
1 |
Rs.66.49 |
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%)