MIRA INFORM REPORT

 

 

Report Date :           

30.09.2011

 

IDENTIFICATION DETAILS

 

Name :

SIEMENS LLC (SIS)

 

 

Registered Office :

Al Nad Al Hamr Street, Al Rashidya, P O Box 60910, Dubai

 

 

Country :

United Arab Emirates

 

 

Date of Incorporation :

14.12.1999

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

General Electrical Contractors

 

 

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$ 1,000,000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct 

 

 

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

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

SUMMARY

 

Company Name                                     : SIEMENS LLC (SIS)

Country of Origin                                    : Dubai, United Arab Emirates

Legal Form                                            : Limited Liability Company - LLC

Registration Date                                   : 14th December 1999

Trade Licence Number                            : 515634

Chamber Membership Number                : 57367

Issued Capital                                        : UAE Dh 10,000,000

Paid up Capital                                      : UAE Dh 10,000,000

Total Workforce                                     : 220

Activities                                               : General electrical contractors

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

Recommended Credit Limit                     : US$ 1,000,000

 

 

 

COMPANY NAME

 

SIEMENS LLC (SIS)

 

 

company ADDRESS

 

Registered & Physical Address

Street               : Al Nad Al Hamr Street

Area                 : Al Rashidya

PO Box             : 60910

Town                 : Dubai

Country             : United Arab Emirates

Telephone         : (971-4) 2894828

Facsimile          : (971-4) 2894733

Email                : siemens@emirates.net.ae

 

Premises

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

 

Branch Offices

 

     Location                                                                                          Description

 

·       An Nabooda Real Estate Investment Building                                       Rented office premises

Airport Road

Umm Ramool

     PO Box: 2154

     Dubai

     Tel: (971-4) 2894846

     Fax: (971-4) 2896651

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Joachim Kundt                                                                                  Chief Executive Officer

 

·       Uwe Schumacher                                                                              Chief Financial Officer

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 14th December 1999

 

Legal Form                  : Limited Liability Company - LLC

 

Trade Licence No.       : 515634

 

Chamber Member No. : 57367

 

Issued Capital              : UAE Dh 10,000,000

 

Paid up Capital            : UAE Dh 10,000,000

 

Name of Shareholder (s)                                              Percentage

 

·       Siemens Aktiengesellschaft                                           49.0%

Wittelsbacherplatz 2

D-80333 Munich

Germany

       Tel: (49-89) 63600

       Fax: (49-89) 63633032

 

·       Scientechnic                                                                 25.5%

PO Box: 325

     Dubai

     United Arab Emirates

     Tel: (971-4) 2666000

     Fax: (971-4) 2666176

 

·       Electro Mechanical Est                                                  25.5%

PO Box: 732

Abu Dhabi

United Arab Emirates

       Tel: (971-2) 6428973

       Fax: (971-2) 6428352

 

 

AFFILIATED COMPANIES

 

·       Siemens FZ (LLC)

     Dubai Internet City

     PO Box: 2154

     Dubai

     Tel: (971-4) 3660000

     Fax: (971-4) 3660500

 

 

OPERATIONS

 

Activities: Engaged as general electrical contractors, involved in power lines, power stations, electromechanical

     equipment, electrical fitting and installation as well as building technologies.

 

Import Countries: Europe and the United States of America

 

Subject has a workforce of approximately 220 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

Deira

PO Box: 1709

Dubai

Tel: (971-4) 2227121 / 2253222

Fax: (971-4) 2220943 / 2254565

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

Date of transaction                              December 2006

Credit amount                                        337,140

Amount overdue                         0

Payment terms                                      90 days

Payment Method                                   Letters of Credit

Paying record                                        No Complaints

Currency                                               Canadian Dollars

 

 

GENERAL COMMENTS

 

Established in 1999, subject operates as general electrical contractors, involved in power lines, power stations, electromechanical equipment, electrical fitting and installation.

 

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.48.93

UK Pound

1

Rs.76.52

Euro

1

Rs.66.65

 

 

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.