MIRA INFORM REPORT

 

 

Report Date :           

04.02.2012

 

IDENTIFICATION DETAILS

 

Name :

MANLIFT POWER LLC

 

 

Registered Office :

Dubai Investment Park Building, Level 1 , Jebel Ali Free Zone, P O Box 213645, Dubai

 

 

Country :

United Arab Emirates

 

 

Date of Incorporation :

04.10.2007

 

 

Com. Reg. No.:

1017007, Dubai

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Distributors of power generation and transmission equipment, pumps,                                                engines and generators for rental purposes

 

 

No. of Employees :

50

 

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 – 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                                     : MANLIFT POWER LLC

Country of Origin                                    : Dubai, United Arab Emirates

Legal Form                                            : Limited Liability Company - LLC

Registration Date                                   : 4th October 2007

Commercial Registration Number            : 1017007, Dubai

Trade Licence Number                            : 601239

Chamber Membership Number                : 124538

Issued Capital                                        : UAE Dh 300,000

Paid up Capital                                      : UAE Dh 300,000

Total Workforce                                     : 50

Activities                                               : Distributors of power generation and transmission equipment, pumps,

                                                             engines and generators for rental purposes.

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

Recommended Credit Limit                     : US$ 200,000

 

 

 

COMPANY NAME

 

MANLIFT POWER LLC

 

 

company ADDRESS

 

Registered & Physical Address

Building             : Dubai Investment Park Building, Level 1

Area                 : Jebel Ali Free Zone

PO Box             : 213645

Town                 : Dubai

Country             : United Arab Emirates

Telephone         : (971-4) 8856065

Facsimile          : (971-4) 8856034

Email                : info@manliftgroup.com

 

Premises

Subject operates from a medium sized suite of offices that are rented and located in the Jebel Ali Free Zone Area of Dubai.

 

Branch Offices

 

Location                                                                                                                  Description

 

·       Abu Dhabi                                                                                                                Office premises

Tel: (971-2) 5502621

 

·       Doha                                                                                                                        Office premises

Qatar

Tel: (974) 44116891

 

·       India                                                                                                             Office premises

Tel: (91-120) 4556342

 

 

KEY PRINCIPALS

 

     Name                                                                      Nationality                               Position

    

·       Adam Stewart Ashcroft                                              British                                       Managing Director

 

·       John Stewart Ashcroft                                                British                                       Director

 

·       Mohamed Amin Hassan Mohamed Mubasheri Emirati                                      Director

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 4th October 2007

 

Legal Form                  : Limited Liability Company - LLC

 

Commercial Reg. No.  : 1017007, Dubai

 

Trade Licence No.       : 601239 (Expires 28/09/2012)

 

Chamber Member No. : 124538

 

Issued Capital              : UAE Dh 300,000

 

Paid up Capital            : UAE Dh 300,000

 

Name of Shareholder (s)                                                        Percentage

 

·       Mohamed Amin Hassan Mohamed Mubasheri             51.00%

 

·       Manlift Power BV                                                                  24.50%

Netherlands

 

·       Adam Stewart Ashcroft                                                          12.25%

 

·       John Stewart Ashcroft                                                              6.25%

 

·       Royal Holdings Group BV                                                        6.00%

Netherlands

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of power generation and transmission equipment, pumps, engines  and generators for rental purposes.

 

Subject provides premium brands of Scissor Lifts, Boom Lifts and Articulated Work Platforms from the world’s leading manufacturers which include JLG, Upright, Teupen, Genie, and Diesel Generators from Cummins and Ingersoll Rand.


Manlift Middle East LLC provides rapid access machines (Cherry Pickers) from 6m – 50m.


Manlift Power LLC provides temporary power solutions from 30kVA to multi mega-watt power projects.

Manlift’s Dutch shareholders currently operate a fleet of more than 9,000 rental units throughout Europe, the Middle East (which includes United Arab Emirates, Qatar, Bahrain, Saudi Arabia, Oman, Kuwait, Yemen), South America and the C.I.S. countries, as well as owning the exclusive distribution rights to a number of world leading brands.

 

Import Countries: Europe and the Far East.

 

Subject has a workforce of 50 employees.

 

 

FINANCIAL DATA

 

Companies registered in Dubai, 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 Dubai

Baniyas Street

     PO Box: 777

     Dubai

     Tel: (971-4) 2222241

 

 

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.48.96

UK Pound

1

Rs.77.47

Euro

1

Rs.64.39

 

 

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%)

 

 

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.