MIRA INFORM REPORT

 

 

Report Date :           

27.08.2011

 

IDENTIFICATION DETAILS

 

Name :

HEBS STAR INTERNATIONAL (L.L.C.)

 

 

Registered Office :

Saeed Tower 1, Suite No. 2705, Shikh Zayed Road, Bur Dubai , P.O.Box No. 48790 Dubai

 

 

Country :

United Arab Emirates 

 

 

Date of Incorporation :

28.06.2006

 

 

Com. Reg. No.:

81961

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

importers and distributors of printing and graphic machineries

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

Dh 160,000

Status :

Small Company 

Payment Behaviour :

No Complaints

Litigation :

Clear  

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

United Arab Emirates 

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company NAME

 

Hebs Star International (L.L.C.) (Correct)

HEBS STAR INTERNATIONAL (Requested)

 

 

 

company ADDRESS

 

Building             : Saeed Tower 1, Suite No. 2705

Street               : Shikh Zayed Road

Area                 : Bur Dubai

P.O.Box No.      : 48790

Town                  : Dubai

Country             : United Arab Emirates

Telephone         : (971 4) 331 1178 / Mobiles (971 50) 141 6757 (Alvin

                         Imagine) / (971 50) 708 5727 (Gerald Vilkis Pereira)           

Fax                   : (971 4) 332 2296

E-Mail                : alvin.imagine@gmail.com   / jerry@hebs-star.com

 

 

SENIOR COMPANY PERSONNEL

 

   Name                                               Position

 

1. Chethan Martin Pereira Pereira            Managing Director                           

 

2. Gerald Felix Pereira                            Executive Director

 

3. Alvin Imagine                                     Marketing Manager                           

 

Total Employees : 5

 

 

PAYMENTS

 

No complaints have been heard regarding payments from local suppliers or banks.

 

We consider it is acceptable to deal with subject for SMALL amounts.

 

Opinion on maximum credit : Dh 160,000

 

Trade risk assessment: Normal

 

TRADE REFERENCES

 

NAME      : TCB GRAPHICS LTD

Country   : England

Telephone : (44 19) 2437 2781 / Mobile (44 79) 374 4619 (Simon Wyles)

Fax       : (44 19) 2437 2781

 

NAME      : RAINBOW 7 MACHINERY LTD

Street    : 6-8 STAFFORD STREET

Town      : LEEDS, LS10 1NL

Country   : United Kingdom

Telephone : (44 11) 3271 3535 / (Mobile) (44 78) 8940 3394 (Marc

                        Tallis)

 

NAME      : GRAFIMAT

Street    : Harelbekestraat 79

State     : 8540 Deerlijk

Country   : Belgium

Telephone : (32 56) 736 353

Fax       : (32 56) 704 580

 

NAME      : ICD, S.A. (INTERNATIONAL COMMERCE & DISTRIBUTION S.A.)

Street    : 28850 Torrejon De Ardoz

Town      : Ecuador, 40 Parque Ind. Las Monjas

State     : Madrid

Country   : Spain

Telephone : (34 916) 560 648 / 560 874

Fax       : (34 916) 755 524

 

 

PRINCIPAL BANKERS

 

NAME     : MASHREQ BANK PSC 

Branch   : Park Place Branch

P.O. Box : 1250

Town     : Dubai

 

Telephone: (971 4) 222 9131

Fax      : (971 4) 222 6061

 

The company also has an account with :

 

Habib Bank Ag Zurich

Al Ittihad Square

PO Box 3306

Dubai

Telephone : (971 4) 221 4535

Fax       : (971 4) 228 4211

 

AUDITORS

 

MCK Associates

PO Box 22023

Dubai

United Arab Emirates

Telephone: (971 4) 335 5582

Fax          : (971 4) 335 0024

 

 

FINANCIAL INFORMATION

 

Private companies in United Arab Emirates are not required to publish or disclose balance sheets. However, the subject interviewed offered the following information :

 

Sales turnover   : Dh  2,049,472 - 2009 - exact

                          : Dh  8,043,172 - 2010 – exact *

                          : Dh 15,000,000 – 2011 – projected

                         

Net Profit           : Dh    583,207 – 2009 – exact

                        : Dh  1,921,514 – 2010 – exact *

                        : Dh  3,450,000 – 2011 – projected

 

Value of contracts        : Dh 8,500,000 (as of March 2011)

 

* A significant increase in sales turnover and net profit in 2010 was attributed to favourable market conditions and expansion of the business.

 

Financial year ends 31 December.

 

 

LEGAL STATUS AND HISTORY

 

Date Started : 28 June 2006

 

C.R. No. : 81961

 

Trade License No.: 583166 (expiry date: 27/06/2011)

 

Authorised Capital : Dh 500,000

 

Paid-Up Capital : Dh 500,000

 


Limited Liability Company with the following shareholders :

 

                                                                                     Percentage

 

1. Lewis Rosario Hygiene                                                17%

   (Indian national / Born in 1954)

 

2. Chethan Martin Pereira Pereira                                    16%

   (Indian national / Date of Birth: 26/05/1981)

 

3. Gerald Felix Pereira                                                   16%

   (Indian national / Born in 1952)

 

4. Salem Mubarak Khalfan Mohamed A Ghaithi                  51%

   (UAE national / Date of Birth: 01/07/1962)

 

* The local sponsor, according to UAE laws must hold a minimum of 51% of the capital, however, in practice and unofficially the sponsor gets a fixed annual percentage of the profit and a sponsorship fee without any investment in the company.                              

 

 

ACTIVITIES

 

The Company is involved in the following activities :

 

Trading as importers and distributors of printing and graphic machineries.

 

Imports worldwide, mainly from USA, Canada, Japan, Australia, Germany, the Netherlands, Spain, Poland, Belgium, France, Italy, UK and Denmark.

 

Exports to India.

 

 

FACILITIES

 

The Company has the following facilities :

 

Owned 3,000 sq.m. administrative offices located at the heading address and another owned 2,600 sq.m. administrative offices located in business bay, Sobha Area as well as rented 850 sq.m. storage facilities located in UK.

 

 

SPECIAL NOTE

 

You enquired on: Hebs Star International. Please note that the correct name is as per heading.  

 

The street name given by you: Shk Zayed Road is misspelt. Please note that the correct spelling is as per heading.

 

Interviewed: Gerald Felix Pereira (Executive Director).

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.46.05

UK Pound

1

Rs.75.20

Euro

1

Rs.66.48

 

 

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

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

 

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

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.