MIRA INFORM REPORT

 

 

Report Date :

23.11.2011

 

IDENTIFICATION DETAILS

 

Name :

MOVENPICK HOTELS & RESORTS MANAGEMENT FZ LLC

 

 

Registered Office :

Shatha Tower, 39th Floor, Office No. 3903 Dubai Media City PO Box 500590 Dubai

 

 

Country :

United Arab Emirates

 

 

Date of Incorporation :

02.08.2004

 

 

Legal Form :

Free Zone Company – FZ LLC

 

 

Line of Business :

Management consultants for Movenpick’s services in the Middle East.

 

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 – September 30, 2011

 

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

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                                     : MOVENPICK HOTELS & RESORTS MANAGEMENT FZ LLC

Country of Origin                                    : Dubai, United Arab Emirates

Legal Form                                            : Free Zone Company – FZ LLC

Registration Date                                   : 2nd August 2004

Trade Licence Number                            : 31238

Issued Capital                                        : UAE Dh 200,000

Paid up Capital                                      : UAE Dh 200,000

Total Workforce                                     : 30

Activities                                               : Management consultants for Movenpick’s services in the Middle East.

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

Recommended Credit Limit                     : US$ 200,000

Person Interviewed                                 : Mohamed Asallien, Chief Financial Officer

 

COMPANY NAME

 

MOVENPICK HOTELS & RESORTS MANAGEMENT FZ LLC

 

 

ADDRESS

 

Registered & Physical Address

 

Building             : Shatha Tower, 39th Floor, Office No. 3903

Area                 : Dubai Media City

 

PO Box             : 500590

 

Town                 : Dubai

Country             : United Arab Emirates

 

Telephone         : (971-4) 3671927 / 3654712

Facsimile          : (971-4) 3672688

Email                : areaofficemhr.dubai@movenpick.com

 

Premises

 

Subject operates from a medium sized suite of offices that are rented and located in the Dubai Media City.

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Andrias Muttmuller                                                                            Chief Operating Officer

 

·       Jerard Hoteiler                                                                                   Operations Manager

 

·       Soumitra Saha                                                                                  Finance Manager

 

·       Mohamed Asallien                                                                             Chief Financial Officer

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 2nd August 2004

 

Legal Form                  : Free Zone Company – FZ LLC

 

Trade Licence No.       : 31238 (Expires 31/12/2011)

 

Issued Capital              : UAE Dh 200,000

 

Paid up Capital            : UAE Dh 200,000

 

Name of Shareholder (s)                                             Percentage

 

·       Movenpick Hotels & Resorts Management AG             100%

Switzerland

 

 

OPERATIONS

 

Activities: Engaged as management consultants for Movenpick’s services in the Middle East.

 

Subject has a workforce of 30 employees.

 

 

FINANCIAL DATA

 

Companies registered in Dubai, United Arab Emirates are not legally required to make their accounts public and no financial information was released by the company or submitted by outside sources.

 

 

BANKERS

 

·       HSBC Bank Middle East

Deira Souk Branch

     PO Box: 66

     Dubai

     Tel: (971-4) 2535000

 

 

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.52.70

UK Pound

1

Rs.82.44

Euro

1

Rs.71.08

 

 

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%)

 

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