MIRA INFORM REPORT
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Report Date : |
16.09.2011 |
IDENTIFICATION DETAILS
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Name : |
ABU DHABI PIPE FACTORY LLC |
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Registered Office : |
Al Mafraq
Industrial Area, P O Box 4526 & 120700,
Abu Dhabi |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
08.09.1996 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacture of fibre glass pipes for the oilfield and gas industries |
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$ 750,000 |
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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) |
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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 : ABU DHABI PIPE FACTORY LLC
Country of Origin : Abu Dhabi, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Start Date : 1981
Registration Date : 8th September 1996
Chamber Membership Number :
72218
Industrial Licence Number : 73
Issued Capital : UAE Dh 20,000,000
Paid up Capital : UAE Dh 20,000,000
Total Workforce : 610
Activities : Manufacture of fibre glass pipes for the oilfield and gas industries.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 750,000
COMPANY NAME
ABU DHABI PIPE FACTORY LLC
Company ADDRESS
Registered &
Physical Address
Location : Al Mafraq Industrial Area
PO Box : 4526
& 120700
Town : Abu Dhabi
Country : United Arab Emirates
Telephone : (971-2) 5821600
Facsimile : (971-2) 5823289
Email : adpf@emirates.net.ae
Premises
Subject operates
from a large suite of offices and a factory that are owned and located in the
Industrial Area of Abu Dhabi.
KEY PRINCIPALS
Name Position
·
Sheikh Saeed Bin Tahnon Bin Mohamed Al Nahayan Managing
Director
·
Mohamed Saleh Abdullah Al Darmaki Director
·
Rashid Mohamed Abdullah Al Mazrouie Director
·
Abdulaziz Ali Al Haji Al Humairi General
Manager
·
Ahmed Hassan Al Gamal Finance
Manager
·
Abo
Obaidah Hassan Mohamed Abdullah Administration
Manager
·
Mansoor
Ahmed Commercial
Manager
·
Al
Sadiq Mohamed Abdulakarim Public
Relations Manager
LEGAL FORM & OWNERS
Date of Establishment : Subject’s
operations date back to 1981, however it was registered on 8th
September 1996
Legal Form :
Limited Liability Company -
LLC
Chamber Member No. : 72218
Industrial Lic. No. : 73
Issued Capital : UAE Dh 20,000,000
Paid up Capital : UAE Dh 20,000,000
Name of
Shareholder (s)
·
Sheikh Saeed Bin Tahnon Bin Mohamed Al Nahayan
·
Mohamed Saleh Abdullah Al Darmaki
·
Rashid Mohamed Abdullah Al Mazrouie
OPERATIONS
Activities: Engaged in the
manufacture of fibre glass pipes for the oilfield and gas industries, as
well as sewerage lines, drainage lines, desalination plants, potable
water supply, cooling water lines, and fire-fighting
systems.
Subject has been
certified to ISO 9001 & ISO 14001.
Production
Capacity:
50,000 tonnes per annum
Import
Countries: Germany, France and
the United States of America
Subject has a
workforce of approximately 610 employees.
FINANCIAL DATA
Companies
registered in Abu Dhabi, 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
·
Abu Dhabi Commercial Bank
Abu Dhabi Commercial Bank Building
Al Salam Street
PO Box: 939
Abu Dhabi
Tel: (971-2) 6962222 / 6962222
Fax: (971-2) 6776499 / 6776499
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.47.84 |
|
UK Pound |
1 |
Rs.75.40 |
|
Euro |
1 |
Rs.65.68 |
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 |
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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.