MIRA INFORM REPORT

 

 

Report Date :

15.07.2011

 

Tel. No.:

971 4 3339977

Fax No.:

971 4 3339358

 

IDENTIFICATION DETAILS

 

Name :

UNISAFE FIRE PROTECTION SPECIALISTS LLC

 

 

Registered Office :

Saif Abdullah Ash Shafar Building Ras Al Khor Road Ras Al Khor Industrial Area PO Box 31568 & 117579 Dubai

 

 

Country :

United Arab Emirates

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

26.12.1998

 

 

Com. Reg. No.:

1007351, Dubai

 

 

Legal Form :

Limited Liability Company - LLC

 

 

Line of Business :

Import, distribution, installation and maintenance of fire extinguishing and safety equipment

 

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$ 200,000

Status :

Satisfactory

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)

UAE

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

 

 

SUMMARY

 

Company Name                         : UNISAFE FIRE PROTECTION SPECIALISTS LLC

Country of Origin                                    : Dubai, United Arab Emirates

Legal Form                                            : Limited Liability Company - LLC

Registration Date                                   : 26th December 1998

Commercial Registration Number            : 1007351, Dubai

Trade Licence Number                            : 509352

Chamber Membership Number                : 44509

Issued Capital                                        : UAE Dh 750,000

Paid up Capital                                      : UAE Dh 750,000

Total Workforce                                     : 70

Activities                                               : Import, distribution, installation and maintenance of fire extinguishing and safety equipment

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                         : Steady

Recommended Credit Limit                     : US$ 200,000

Person Interviewed                                 : Mrs Mohina Suvrna, General Manager

 

 

 

COMPANY NAME

 

UNISAFE FIRE PROTECTION SPECIALISTS LLC

 

 

ADDRESS

 

Registered & Physical Address

 

Building             : Saif Abdullah Ash Shafar Building

Street               : Ras Al Khor Road

Area                 : Ras Al Khor Industrial Area

 

PO Box             : 31568 & 117579

 

Town                 : Dubai

Country             : United Arab Emirates

 

Telephone         : (971-4) 3339977

Facsimile          : (971-4) 3339358

Email                : unisafe@emirates.net.ae / info@unisafedxb.com

 

Premises

 

Subject operates from a medium sized suite of offices and a warehouse that are rented and located in the Industrial Area of Dubai.

 

Branch Offices

 

     Location                                                                                           Description

 

·       PO Box: 33282                                                                                 Office premises

Abu Dhabi

Tel: (971-2) 5511132

Fax: (971-2) 5515856

 

 

KEY PRINCIPALS

 

     Name                                                           Nationality                     Position

 

·       Saif Abdullah Ali Saif Al Shafar                       Emirati                          Managing Director

 

·       Mohina Suvrna                                                   -                              General Manager

 

·       Vasu Diva                                                          -                              Commercial Manager

 

·       Lakshman Chenoy                                             -                              Sales Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 26th December 1998

 

Legal Form                  : Limited Liability Company - LLC

 

Commercial Reg. No.  : 1007351, Dubai

 

Trade Licence No.       : 509352 (Expires 25/02/2012)

 

Chamber Member No. : 44509

 

Issued Capital              : UAE Dh 750,000

 

Paid up Capital            : UAE Dh 750,000

 

Name of Shareholder (s)                                     Percentage

 

·       Saif Abdullah Ali Saif Al Shafar                                        51%

 

·       Zicom Electronics Security Systems Ltd                          49%

     India

 

 

AFFILIATED COMPANIES

 

·       Unisafe Fire Protection Specialist LLC

PO Box: 2079

D2 Industrial Area

Doha

Qatar

Tel: (974) 44696490

 

 

OPERATIONS

 

Activities: Engaged in the import, distribution, installation and maintenance of fire extinguishing and safety

     equipment.

 

 

Subject’s products include:

 

Fire detection & voice evacuation system

 

Smoke detection system emergency & exit lights

 

Standpipe & hose systems

 

Fire mains & hydrant system

 

Sprinkler systems

 

Water spray fixed systems

 

Deluge foam water sprinkler & foam water spray system low

 

Medium & high expansion foam system

 

Clean agent fire extinguishing systems (argonite & fm-200)

 

Carbon dioxide extinguishing systems

 

Dry and wet chemical extinguishing systems water

 

Mist fire extinguishing systems

 

Import Countries: India, Denmark, United Kingdom, Malaysia and the United States of America.

 

International Suppliers:

 

·         GLT Exports Ltd                              United Kingdom

·         Moyne Engineering Ltd                     Republic of Ireland

·         Globe Sprikler Corporation                United States of America

·         Ginge-Kerr                                       Denmark

·         PemAll Systems Inc                                    United States of America

·         Eversafe Extinguisher SDN               Malaysia

·         NIBCO Valves                                  United States of America

·         Potter Roemer                                 United States of America

 

Operating Trend: Steady

 

Subject has a workforce of 70 employees.

 

 

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: United Arab Emirates Dirham (UAE Dh)

 

                                                Year Ending 31/12/09:                Year Ending 31/12/10:

 

Total Sales                                UAE Dh 18,750,000                   UAE Dh 20,000,000

 

Local sources consider subject’s financial condition to be Fair.

 

The above financial figures are based on estimations by our local sources.

 

 

BANKERS

 

·       Mashreq Bank Plc

Deira Branch

PO Box: 1250

Dubai

Tel: (971-4) 2229131 / 2221134

Fax: (971-4) 2233784

 

 

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.44.53

UK Pound

1

Rs.71.80

Euro

1

Rs.63.15

 

 

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

--

NB

                                       New Business

 

--

 

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.