MIRA INFORM REPORT

 

 

Report Date :           

03.08.2012

 

IDENTIFICATION DETAILS

 

Name :

EMIRATES HONING LLC

 

 

Registered Office :

Industrial Area 60448 & 294775, Dubai

 

 

Country :

United Arab Emirates

 

 

Date of Incorporation :

03.10.2011

 

 

Com. Reg. No.:

1083042, Dubai

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Manufacturers of metal products, steel fabrication and operators of a lathe and welding workshop.

 

 

No. of Employees :

12

 

RATING & COMMENTS

 

MIRA’s Rating :

NB

 

RATING

STATUS

PROPOSED CREDIT LINE

-

NB

                                       New Business

-

 

Status :

New Company

 

 

Payment Behaviour :

Unknown

 

 

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

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                         : EMIRATES HONING LLC

Country of Origin                                    : Dubai, United Arab Emirates

Legal Form                                            : Limited Liability Company – LLC

Registration Date                                   : 3rd October 2011

Commercial Registration Number            : 1083042, Dubai

Trade Licence Number                            : 659593

Chamber Membership Number                : 197270

Issued Capital                                        : UAE Dh 300,000

Paid up Capital                                      : UAE Dh 300,000

Total Workforce                                     : 12

Activities                                               : Manufacturers of metal products, steel fabrication and operators of a   lathe  and welding workshop.

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

 

COMPANY NAME

 

EMIRATES HONING LLC

 

 

ADDRESS

 

Registered & Physical Address

 

Location            : Industrial Area

PO Box             : 60448 & 294775

Town                 : Dubai

Country             : United Arab Emirates

Telephone         : (971-4) 2854190

Facsimile          : (971-4) 2854196

Email                : info@emirateshoning.com

 

Premises

 

Subject operates from a small suite of offices and a workshop that are rented and located in the Industrial Area of Dubai.

 

 

KEY PRINCIPALS

 

            Name                                                                                                   Position

 

Abdul Jaleel Mehdi Mohamed Al Asmawi                                                 Managing Director

 

Abdullah Abduljalil Mehdi Al Asmawi                                                                   Director

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 3rd October 2011

 

Legal Form                  : Limited Liability Company – LLC

 

Commercial Reg. No.  : 1083042, Dubai

 

Trade Licence No.       : 659593 (Expires 02/10/2012)

 

Chamber Member No. : 197270

 

Issued Capital              : UAE Dh 300,000

 

Paid up Capital            : UAE Dh 300,000

 

Name of Shareholder (s)

 

Abdul Jaleel Mehdi Mohamed Al Asmawi                        

 

Abdullah Abduljalil Mehdi Al Asmawi                                          

 

 

OPERATIONS

 

Activities:                     Engaged in the manufacture of metal products, steel fabrication and operators of a lathe and welding workshop.

 

Import Countries:         Europe and the Far East.

 

Subject has a workforce of 12 employees.

 

 

FINANCIAL DATA

 

Subject is a newly formed business and as a result financial information is not currently available.

 

 

BANKERS

 

Standard Chartered Bank

Khalid Bin Waleed Street

PO Box: 999

Dubai

Tel: (971-4) 2520455

 

 

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.55.78

UK Pound

1

Rs.86.75

Euro

1

Rs.68.32

 

 

INFORMATION DETAILS

 

Report Prepared by :

SDA

 

 

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.