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Report Date : |
21.08.2012 |
IDENTIFICATION DETAILS
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Name : |
UNION COPPER ROD LLC |
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Registered Office : |
Industrial City of
Abu Dhabi (ICAD), P O Box 112231, Abu Dhabi |
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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 : |
01.05.2005 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacturers of copper rods |
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No. of Employees : |
51 employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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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 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company Name : UNION COPPER ROD LLC
Country of Origin : Abu Dhabi, United Arab Emirates
Legal Form : Limited Liability Company – LLC
Registration Date : 1st May 2005
Industrial Licence Number : 1216
Chamber Membership Number : 111757
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 51
Activities : Manufacturers of copper rods
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Khalid Azzam, Human Resources Manager
UNION COPPER ROD
LLC
Registered &
Physical Address
Location : Industrial City of Abu Dhabi
(ICAD)
PO Box : 112231
Town : Abu Dhabi
Country : United Arab Emirates
Telephone : (971-2) 5503240
Facsimile : (971-2) 5503241
Email : info@unioncopper.ae / lmahmood@unioncopper.ae
Premises
Subject operates
from a suite of offices and a factory covering 30,000 square metres that are rented and located in the Industrial Area
of Abu Dhabi.
Name Position
·
Abdullah
Al Khateeb General
Manager
·
Michael
Philips Plant
Manager
·
Rahul Rahmani Purchasing
Manager
·
Sami Mattani Sales
Manager
·
Khalid Azzam Human Resources Manager
·
Akram Nour Finance
Manager
Date of Establishment : 1st
May 2005
Legal Form :
Limited Liability Company –
LLC
Industrial Licence
No. : 1216
Chamber Mem. No. : 111757
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder
(s) Percentage
·
Al Ittihad International Investment LLC 99%
Abu Dhabi
Tel: (971-2) 6581888
·
Juaan Awaidha Al Khaili 1%
Activities: Engaged in the manufacture of copper rods.
Production
Capacity: 200,000 metric tonnes per year.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 51 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
23,750,000 UAE Dh
25,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
National
Bank of Abu Dhabi
Sheikh Khalifa
Street
PO Box: 4
Abu Dhabi
Tel: (971-2) 6345777 / 6327113 / 6335262
Fax: (971-2) 6336078
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.55.70 |
|
UK Pound |
1 |
Rs.87.55 |
|
Euro |
1 |
Rs.68.85 |
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 |
|
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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.