MIRA INFORM REPORT

 

 

Report Date :           

20.04.2012

 

IDENTIFICATION DETAILS

 

Name :

HEPWORTH PME LLC

 

 

Registered Office :

Abdul Ghaffar Hussain Building, Airport Road,Umm Ramool Industrial Area, P O Box  2345, Dubai

 

 

Country :

United Arab Emirates

 

 

Date of Incorporation :

28.05.1975

 

 

Com. Reg. No.:

40057, Dubai

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Manufacturers of fibre glass and plastic pipes and related fittings

 

 

No. of Employees :

150

 

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

 

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 – March 31st, 2012

 

Country Name

Previous Rating

                   (31.12.2011)                  

Current Rating

(31.03.2012)

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                                     : HEPWORTH PME LLC

Country of Origin                                    : Dubai, United Arab Emirates

Legal Form                                            : Limited Liability Company - LLC

Registration Date                                   : 28th May 1975

Commercial Registration Number            : 40057, Dubai

Trade Licence Number                            : 202539

Chamber Membership Number                : 1390

Issued Capital                                        : UAE Dh 14,000,000

Paid up Capital                                      : UAE Dh 14,000,000

Total Workforce                                     : 150

Activities                                               : Manufacturers of fibre glass and plastic pipes and related fittings

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

 

 

 

COMPANY NAME

 

HEPWORTH PME LLC

 

 

company ADDRESS

 

Registered & Physical Address

Building             : Abdul Ghaffar Hussain Building

Street               : Airport Road

Area                 : Umm Ramool Industrial Area

PO Box             : 2345

Town                 : Dubai

Country             : United Arab Emirates

Telephone         : (971-4) 2894670

Facsimile          : (971-4) 2894621

Email                : hepworth@emirates.net.ae

 

Premises

Subject operates from a medium sized suite of offices and a factory that are owned and located in the Industrial Area of Dubai.

 

Branch Offices

 

Location                                                                                                      Description

 

·       PO Box: 4894                                                                                               Office premises

Abu Dhabi

Tel: (971-2) 6727585

Fax: (971-2) 6783578

 

·       PO Box: 23363                                                                                             Office premises

Sharjah

Tel: (971-6) 5436205

Fax: (971-6) 5437570

 

·       PO Box: 80862                                                                                             Office premises

     Al Ain

     Tel: (971-3) 7210727

     Fax: (971-3) 7211292

 

 

KEY PRINCIPALS

 

     Name                                                                                                          Position

 

·       Abdul Ghaffar Ghuloom Hussain                                                                     Managing Director

 

·       Ghada Abdul Ghaffar Ghuloom Hussain                                                           Director

 

·       Hend Abdul Ghaffar Ghuloom Hussain                                                             Director

 

·       Mohamed Abdul Ghaffar Ghuloom Hussain                                                      Director

 

·       Nawal Abdul Ghaffar Ghuloom Hussain                                                           Director

 

·       Saeed Abdul Ghaffar Ghuloom Hussain                                                           Director

 

·       Shaikha Ahmed Ibrahim                                                                                 Director

 

·       Al Unood Abdul Rahman                                                                                Director

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 28th May 1975

 

Legal Form                  : Limited Liability Company - LLC

 

Commercial Reg. No.  : 40057, Dubai

 

Trade Licence No.       : 202539 (Expires 03/02/2014)

 

Chamber Member No. : 1390

 

Issued Capital              : UAE Dh 14,000,000

 

Paid up Capital            : UAE Dh 14,000,000

 

Name of Shareholder (s)                                                                    Percentage

 

·       Abdul Ghaffar Ghuloom Hussain                                                         45.30%

 

·       Ghada Abdul Ghaffar Ghuloom Hussain                                                 8.69%

 

·       Hend Abdul Ghaffar Ghuloom Hussain                                                   8.69%

 

·       Mohamed Abdul Ghaffar Ghuloom Hussain                                            8.69%

 

·       Nawal Abdul Ghaffar Ghuloom Hussain                                                 8.69%

 

·       Saeed Abdul Ghaffar Ghuloom Hussain                                                 8.69%

 

·       Heirs of the late Nabeel Abdul Ghaffar Ghuloom Hussain                        8.69%

 

·       Shaikha Ahmed Ibrahim                                                                       1.46%

 

·       Al Unood Abdul Rahman                                                                      1.10%

 

 

AFFILIATED COMPANIES

 

·       Hepworth WLL

PO Box: 143

Manama

Bahrain

Tel: (973-17) 672050

Fax: (973-17) 672583

 

·       Abdul Ghaffar Hussain Trading

PO Box: 117

Azaiba 130

Oman

Tel: (968) 24492128

Fax: (968) 24492701

 

·       Hepworth PME (Qatar) WLL

PO Box: 50207

Doha

Qatar

Tel: (974) 44506810

Fax: (974) 44506811

 

 

OPERATIONS

 

Activities: Engaged in the manufacture of fibre glass and plastic pipes and related fittings.

 

                 Subject’s product range includes, water & waste disposal systems, irrigation systems, valves and

     accessories, water supply systems and hot & cold water systems.

 

Import Countries: Europe and the Far East.

 

Brand Names: HEPWORTH, WAVIN, MDS, PAIGE, HOROBIN, ADAMS, UPE, ORIVAL, MCALPINE, TALBOT, AVR,  FLOMATIC, EURAPIPE, LEONARD, VALSIR and CARSON

 

Subject has a workforce of approximately 150 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

 

·       National Bank of Dubai

Baniyas Street

     PO Box: 777

     Dubai

     Tel: (971-4) 2222241

 

 

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.51.89

UK Pound

1

Rs.83.18

Euro

1

Rs.68.06

 

 

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.