MIRA INFORM REPORT

 

 

Report Date :           

24.04.2012

 

IDENTIFICATION DETAILS

 

Name :

KNIGHTSBRIDGE CHEMICALS FZE

 

 

Registered Office :

Hamriyah Free Zone, Plot No. 1-D-03 & 04, P O Box 41671, Sharjah

 

 

Country :

United Arab Emirates

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

15.04.2002

 

 

Legal Form :

Free Zone Establishment

 

 

Line of Business :

Manufacture of chemical resins

 

 

No. of Employees :

51

 

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$ 750,000

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 – 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                         : KNIGHTSBRIDGE CHEMICALS FZE

Country of Origin                                    : Sharjah, United Arab Emirates

Legal Form                                            : Free Zone Establishment - FZE

Registration Date                                   : 15th April 2002

Trade Licence Number                            : 356

Issued Capital                                        : UAE Dh 1,000,000

Paid up Capital                                      : UAE Dh 1,000,000

Total Workforce                         : 51

Activities                                               : Manufacture of chemical resins.

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                         : Steady

Recommended Credit Limit                     : US$ 750,000

 

 

 

COMPANY NAME

 

KNIGHTSBRIDGE CHEMICALS FZE

 

 

company ADDRESS

 

Registered & Physical Address

Location            : Hamriyah Free Zone, Plot No. 1-D-03 & 04

PO Box : 41671

Town                 : Sharjah

Country : United Arab Emirates

Telephone         : (971-6) 5263922

Facsimile          : (971-6) 5263923

Email                : info@knightsbridge.com / info@knbridge.com

 

Premises

Subject operates from a medium sized suite of offices and a factory that are rented and located in the Hamriyah Free Zone Area of Sharjah.

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

·       Eric Linker                                                                                        Chief Executive Officer

·       Usman Saleemi                                                                                Finance Manager

·       Waleed Hamouda                                                                              Plant Manager

·       Andrew Neal                                                                                     Marketing Manager

·       Ahmed Al Hassan                                                                             Business Development Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 15th April 2002

 

Legal Form                  : Free Zone Establishment - FZE

 

Trade Licence No.       : 356

 

Issued Capital              : UAE Dh 1,000,000

 

Paid up Capital            : UAE Dh 1,000,000

 

Name of Shareholder (s)                                                      Percentage

·       Knightsbridge Chemicals Limited                                            100%

Bermuda

 

 

AFFILIATED COMPANIES

 

·       Knightsbridge Chemicals DMCC

PO Box: 114408

Dubai

Tel: (971-4) 4470765

Fax: (971-4) 4470764

 

·       International Chemicals Company SAE

19 El Batal Ahmed Abdel Aziz Street

Mohandessin, Giza

Cairo

Egypt

Tel: (20-2) 33457818

Fax: (20-2) 33053954

 

 

OPERATIONS

 

Activities: Engaged in the manufacture of chemical resins.

 

Import Countries: Europe and the Far East.

 

Operating Trend: Steady

 

Subject has a workforce of 51 employees.

 

 

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: United Arab Emirates Dirham (UAE Dh)

 

                                                Year Ending 31/12/10:                Year Ending 31/12/11:

 

Total Sales                                UAE Dh 24,850,000                   UAE Dh 25,400,000

 

Local sources consider subject’s financial condition to be Fair.

 

The above financial figures are based on estimations by our local sources.

 

 

BANKERS

 

·       National Bank of Sharjah

Al Boorj Avenue

     PO Box: 4

     Sharjah

     Tel: (971-6) 5547747

 

 

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.52.23

UK Pound

1

Rs.84.16

Euro

1

Rs.68.84

 

 

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.