MIRA
INFORM REPORT
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Report Date : |
17.05.2011 |
IDENTIFICATION DETAILS
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Name : |
HARWAL CONTAINERS MANUFACTURING LLC |
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Registered Office : |
Jebel Ali Industrial Area |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
07.05.2007 |
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Com. Reg. No.: |
1008317, |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Manufacture of plastic bottles, containers, caps and lids. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
US$ 250,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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UAE |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
SUMMARY
Company Name : HARWAL CONTAINERS MANUFACTURING LLC
Country of Origin :
Legal Form : Limited Liability Company - LLC
Registration Date : 7th May 2007
Commercial Registration Number : 1008317, Dubai
Trade Licence Number : 592536
Chamber Membership Number : 118740
Issued Capital : UAE Dh 55,000,000
Paid up Capital : UAE Dh 55,000,000
Total Workforce : 83
Activities : Manufacture of plastic bottles, containers, caps and lids.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 250,000
Person Interviewed : Sam Mano, Financial Controller
COMPANY NAME
HARWAL CONTAINERS MANUFACTURING LLC
ADDRESS
Registered & Physical Address
Location : Jebel Ali
Industrial Area No. 2
PO Box : 804 &
113760
Town :
Country :
Telephone : (971-4) 8803400
/ 8802828
Facsimile : (971-4)
8803401
Email : info@hcm.ae
/ hcm@hcm.ae
Premises
Subject operates from a medium sized suite of offices and a factory that
are rented and located in the Industrial Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
· Mohamed Abdullah Omran
Al Moran Emirati Managing
Director
· Amjad Mohamed
Yousri Mahmoud Al Douik Emirati Director
· Wouter Booms - General
Manager
· Sano Sayed - Finance
Manager
· Sam Mano - Financial
Controller
· Raj Gupta
- Commercial
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 7th
May 2007
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 1008317,
Trade Licence No. : 592536 (Expires 10/03/2012)
Chamber Member No. : 118740
Issued Capital : UAE Dh 55,000,000
Paid up Capital : UAE Dh 55,000,000
Name of Shareholder (s) Percentage
· Amjad Mohamed
Yousri Mahmoud Al Douik 26.50%
· Inter Plast Co
Limited 26.22%
· Mohamed Abdullah
Omran Al Moran 24.55%
· Harwal Limited 22.73%
AFFILIATED COMPANIES
· Union Beverage Factory LLC
PO Box: 113700
· Intermetal Ltd
PO Box: 22285
Sharjah
Tel: (971-6) 5322462
Fax: (971-6) 5337272
·
PO Box: 47898
Tel: (971-4)
2676409
Fax:
(971-4) 2676309
OPERATIONS
Activities: Engaged in the manufacture of plastic bottles, containers, caps and
lids.
Production
Capacity: 10,000 tonnes per annum
Import Countries:
Operating Trend: Steady
Subject has a workforce of 83 employees.
FINANCIAL DATA
Financial highlights provided by local sources are given below:
Currency:
Year
Ending 31/12/09: Year
Ending 31/12/10:
Total Sales UAE
Dh 17,600,000 UAE Dh
19,000,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Sam Mano,
Financial Controller
BANKERS
·
Commercial Bank of
PO Box: 2668
Tel: (971-4)
3523355
Fax: (971-4)
3527655 / 2524796
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.07 |
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1 |
Rs.72.97 |
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Euro |
1 |
Rs.63.57 |
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 |
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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-- |
NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.