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Report Date : |
07.08.2012 |
IDENTIFICATION DETAILS
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Name : |
MJB INTERNATIONAL LTD |
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Registered Office : |
Oilfields Supply
Centre, Al Mankhool Road, Al Mankhool, P O Box 11931, Dubai |
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Country : |
United Arab Emirates |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
21.10.2000 |
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Com. Reg. No.: |
57676, Dubai |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Distributors of pumps, engines, valves and spare parts for turbines |
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No. of Employees : |
15 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 |
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Restricted |
C2 |
|
Off-credit |
D |
Company Name : MJB INTERNATIONAL LTD
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company
Registration Date : 21st October 2000
Commercial Registration Number : 57676, Dubai
Trade Licence Number : 521990
Chamber Membership Number : 61017
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 15
Activities : Distributors of pumps, engines, valves and spare parts for turbines
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
MJB INTERNATIONAL
LTD
Registered &
Physical Address
Building : Oilfields Supply Centre
Street : Al Mankhool Road
Area : Al Mankhool
PO Box : 11931
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 8836319 / 8836486
Facsimile : (971-4) 8836486
Email : info@mjbi.com
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Industrial Area of Dubai.
Branch Office (s)
Location Description
·
PO Box:
332 Office
premises
Abu Dhabi
Tel: (971-2) 6418814
Fax: (971-2) 6418815
Name Nationality Position
·
Rahman Mohd
Almasaood Almuhairi Emirati Managing
Director
·
Brian
Waddell - General
Manager
Date of Establishment : 21st
October 2000
Legal Form :
Limited Liability Company
Commercial Reg. No. : 57676, Dubai
Trade Licence No. : 521990
(Expires 20/10/2012)
Chamber Member No. : 61017
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder
(s) Percentage
·
Al
Masaood 51%
Abu Dhabi
·
Turbine
Services Ltd 49%
United Kingdom
·
Masaood
John Brown
Dubai
·
Al
Masaood
Abu Dhabi
·
Osborne
Engineering Ltd
Jebel Ali Free Zone
Dubai
·
Power
Developments International
Jebel Ali Free Zone
Dubai
Activities: Engaged in the import and distribution of
pumps, engines, valves and spare parts for turbines.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 15 employees.
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
12,275,000 UAE Dh
12,600,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
HSBC
Bank Middle East
Deira Souk Branch
PO Box: 66
Dubai
Tel: (971-4) 2535000
No complaints
regarding subject’s payments have been reported.
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.55.47 |
|
UK Pound |
1 |
Rs.86.60 |
|
Euro |
1 |
Rs.68.66 |
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 |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.