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Report Date : |
07.08.2012 |
IDENTIFICATION DETAILS
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Name : |
SKM AIR CONDITIONING LLC |
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Registered Office : |
Emirates Road,
Industrial Area No. 13, P O Box 6004, Sharjah |
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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 : |
16.01.1975 |
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Com. Reg. No.: |
2203, Sharjah |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacturers of air conditioning units, refrigeration and cold storage systems |
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No. of Employees : |
800 |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Status : |
Good |
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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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company Name : SKM AIR CONDITIONING LLC
Country of Origin : Sharjah, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 16th January 1975
Commercial Registration Number : 2203, Sharjah
Trade Licence Number : 341
Chamber Membership Number : 363
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Total Workforce : 800
Activities :
Manufacturers of air conditioning units, refrigeration and cold storage
systems.
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Ali Jaber, General Manager
SKM AIR
CONDITIONING LLC
Registered &
Physical Address
Street : Emirates Road
Area : Industrial Area No. 13
PO Box : 6004
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 5347347
Facsimile : (971-6) 5349292
Email : info@skm.ae
Premises
Subject operates
from a large suite of offices and a factory that are owned and located in the
Industrial Area of Sharjah.
Name Position
·
Ali
Jaber General
Manager
·
Sarfaz
Ahmed Factory
Manager
·
Diya Al
Alami Sales
Manager
Date of Establishment : 16th
January 1975
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 2203, Sharjah
Trade Licence No. : 341
Chamber Member No. : 363
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Name of Shareholder
(s) Percentage
·
Al
Azizya Investment Real Estate Co 98%
Kuwait
·
Fawaz
Mubarak Abdulaziz 1%
·
Abdulaziz
Mubarak 1%
·
Sharjah
and Kuwait Manufacturing Co Ltd (SKM)
Industrial Area No. 1
PO Box: 6004
Sharjah
Tel: (971-6) 5330363 / 5333364
Fax: (971-6) 5335977
·
Fawaz
Refrigeration & Air Conditioning Co Ltd
Al Wahda Street
PO Box: 1170
Sharjah
Tel: (971-6) 5334917
Fax: (971-6) 5330342
Email: fawazco@emirates.net.ae
·
Fawaz
Refrigeration & Air Conditioning Co WLL
Al Marzouk Pearl Building
Salmiya
PO Box: 20423
Safat 13065
Kuwait
Tel: (965) 5749306 / 5749313
Fax: (965) 5714150
·
Al
Amana Trading Establishment
Fooladi Building
Hamdan Street
PO Box: 7708
Abu Dhabi
Tel: (971-2) 6723787
Fax: (971-2) 6727569
Activities: Engaged in the manufacture of air
conditioning units, refrigeration
and cold storage systems.
Subject is ISO 9001 accredited.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of approximately 800 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
358,000,000 UAE Dh
362,000,000
Local sources
consider subject’s financial condition to be Good.
The above figures
were provided by Mr Ali Jaber,
General Manager
·
National
Bank of Sharjah
PO Box: 4
Sharjah
Tel: (971-6) 5547747
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 |
|
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 |
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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%)