MIRA INFORM REPORT

 

 

Report Date :

26.04.2012

 

IDENTIFICATION DETAILS

 

Name :

TECHNICAL SUPPLIES & SERVICES CO LLC

 

 

Registered Office :

Office No. 1, Emirates Street,  Industrial Area No.10, P O Box 1818, Sharjah

 

 

Country :

United Arab Emirates

 

 

Date of Incorporation :

25.11.1975

 

 

Com. Reg. No.:

24412, Sharjah

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Manufacture of cold stores, porta cabins and cladding

 

 

No. of Employees :

400

 

 

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$ 200,000

 

 

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                         : TECHNICAL SUPPLIES & SERVICES CO LLC

Country of Origin                                    : Sharjah, United Arab Emirates

Legal Form                                            : Limited Liability Company - LLC

Registration Date                                   : 25th November 1975

Commercial Registration Number            : 24412, Sharjah

Trade Licence Number                            : 12999

Industrial Licence Number                       : 3227

Issued Capital                                        : UAE Dh 100,000,000

Paid up Capital                                      : UAE Dh 100,000,000

Total Workforce                                     : 400

Activities                                               : Manufacture of cold stores, porta cabins and cladding.

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

Recommended Credit Limit                     : US$ 200,000

Person Interviewed                                 : Mohamed Salah, Public Relations Manager

 

 

 

 

COMPANY NAME

 

TECHNICAL SUPPLIES & SERVICES CO LLC

 

 

company ADDRESS

 

Registered & Physical Address

Building : Office No. 1

Street               : Emirates Street

Area                 : Industrial Area No.10

PO Box : 1818

Town                 : Sharjah

Country : United Arab Emirates

Telephone         : (971-6) 5341344

Facsimile          : (971-6) 5341686

Email                : info@tsscuae.com / tssc1@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 Sharjah.

 

Branch Office (s)

 

     Location                                                                                          Description

 

·       Dubai Investment Park                                                                       Office premises

PO Box: 77031

Dubai

Tel: (971-4) 8850474

Fax: (971-4) 8850343

 

·       PO Box: 43135                                                                                 Office premises

Abu Dhabi

Tel: (971-2) 6768748

Fax: (971-2) 6773726

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

·       Harout Ohanessian                                                                            Managing Director

·       Sarkis Tcherkzian                                                                             General Manager

·       Mohamed Salah                                                                                Public Relations Manager

·       Kujal Kumar                                                                                      Financial Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 25th November 1975

 

Legal Form                  : Limited Liability Company - LLC

 

Commercial Reg. No.  : 24412, Sharjah

 

Trade Licence No.       : 12999

 

Industrial Licence No.  : 3227

 

Issued Capital              : UAE Dh 100,000,000

 

Paid up Capital            : UAE Dh 100,000,000

 

Name of Shareholder (s)                                             

·       Ahmed Khalf Khalifa Al Mazrouie

·       Basel Al Bahar

·       Amjad Al Douik

·       Harwell Ltd

Sharjah

·       Gulf Investment Corporation (GIC)

Kuwait

 

 

AFFILIATED COMPANIES

 

·       Thermostores & Steel Construction Co Ltd

PO Box: 43135

Abu Dhabi

     Tel: (971-2) 6768748

     Fax: (971-2) 6773726

 

·       Technical Supplies & Services Co LLC (TSSC)

Mohamed Khalifa Bin Habtoor Building

Al Maktoum Hospital Street

Al Rigga, Deira

PO Box: 69

Dubai

Tel: (971-4) 2223211

Fax: (971-4) 2271659

 

·       Interplast UK

United Kingdom

 

·       Interplast France

France

 

·       Harwal Marine

Netherlands

 

·       Harwal Russ

Russia

 

·       US Polymers

United States of America

 

·       Zovk Beverages

Armenia

 

 

OPERATIONS

 

Activities: Engaged in the manufacture of cold stores, porta cabins and cladding.

 

Import Countries: Europe and the Far East.

 

Subject has a workforce of approximately 400 employees.

 

 

FINANCIAL DATA

 

Companies registered in Sharjah, 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 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.52.49

UK Pound

1

Rs.84.66

Euro

1

Rs.69.25

 

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

 

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.