MIRA INFORM REPORT
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Report Date : |
06.09.2011 |
IDENTIFICATION DETAILS
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Name : |
OILFIELD SUPPLY CENTER LTD |
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Registered Office : |
Nashwan Building,
Al Mankhool Road, Al Rifaa, P O Box 1518, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
07.01.1976 |
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Legal Form : |
Government Corporation |
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Line of Business : |
Providers of offshore and onshore logistics services to the oil and gas sectors |
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$ 500,000 |
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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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
United Arab Emirates |
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 : OILFIELD SUPPLY CENTER LTD
Country of Origin : Dubai, United Arab Emirates
Legal Form : Government Corporation
Registration Date : 7th January 1976
Trade Licence Number : 205345
Chamber Membership Number : 1625
Issued Capital : UAE Dh 10,000,000
Paid up Capital : UAE Dh 10,000,000
Total Workforce : 1,650
Activities : Providers of offshore and onshore logistics services to the oil and gas
sectors.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 500,000
Person Interviewed : Pascal Almeida, Finance Manager
COMPANY NAME
OILFIELD SUPPLY CENTER LTD
company ADDRESS
Physical Address
Building : Building No. 3
Area : Jebel Ali Free Zone
PO Box : 2851
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 8054215 / 8836800 / 8054270
Facsimile : (971-4) 8839669
Email : osc@oscdubai.com / accounts@oscdubai.com
Registered Address
Nashwan Building
Al Mankhool Road
Al Rifaa
PO Box : 1518
Dubai
Tel : (971-4)
3984323
Premises
Subject operates
from a large suite of offices that are rented and located in the Suburban
Business Area of Dubai.
KEY PRINCIPALS
Name Position
·
Hamdan
Bin Rashid Al Maktoum Chairman
·
Iqbal
Mohamed Abdulla Abedin Managing
Director
·
John
Robert Ellis General
Manager
·
Tariq E
Abbas Administration
Manager
·
Mohamed
Al Ahmed Planning
& Development Manager
·
Pascal
Almeida Finance
Manager
·
Allah
Bkash Malik Human
Resources Manager
·
Ibrahim
Abdulla Hassan Ali Al Ali Logistics
Manager
LEGAL FORM & OWNERS
Date of Establishment : 7th
January 1976
Legal Form :
Government Corporation
Trade Licence No. : 205345 (Expires
21/03/2012)
Chamber Member No. : 1625
Issued Capital : UAE Dh 10,000,000
Paid up Capital : UAE Dh 10,000,000
Name of Shareholder
(s) Percentage
·
Government
of Dubai 100%
OPERATIONS
Activities: Engaged in the provision of offshore and
onshore logistics services to the oil and gas sector. Subject provides
clearing, forwarding, warehousing, distributing, third party cargo handling
services, provision of personnel services and workshop vehicles.
Subject has a
workforce of approximately 1,650 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
·
Commercial
Bank of Dubai
Baniyas Street
PO Box : 1709
Deira
Dubai
Tel : (971-4) 2227121 / 2253222
Fax : (971-4) 2220943 / 2254565
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.45.94 |
|
UK Pound |
1 |
Rs.74.28 |
|
Euro |
1 |
Rs.64.97 |
RATING EXPLANATIONS
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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 |
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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 |
|
<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.