MIRA
INFORM REPORT
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Report Date : |
10.02.2012 |
IDENTIFICATION DETAILS
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Name : |
BETA INDUSTRIAL
LLC |
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Registered Office : |
Plot No. 565B, Ras
Al Khor Road, Ras Al Khor Industrial Area, 50708, 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 : |
28.05.1990 |
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Com. Reg. No.: |
52984, Dubai |
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Legal Form : |
Limited Liability
Company - LLC |
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Line of Business : |
Distributors of electro mechanical products and the manufacture of air conditioning equipment and systems. |
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No. of Employees : |
130 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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Maximum Credit Limit : |
US$ 250,000 |
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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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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United Arab Emirates |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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 |
SUMMARY
Company Name :
BETA INDUSTRIAL LLC
Country of Origin : Dubai,
United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date : 28th
May 1990
Commercial
Registration Number : 52984,
Dubai
Trade Licence
Number : 300482
Chamber Membership
Number : 19267
Issued Capital : UAE Dh
300,000
Paid up Capital : UAE Dh
300,000
Total Workforce : 130
Activities :
Distributors of electro mechanical products and the manufacture of air
conditioning equipment and systems.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit
Limit : US$ 250,000
COMPANY NAME
BETA INDUSTRIAL LLC
ADDRESS
Registered & Physical Address
Location : Plot No. 565B
Street : Ras Al Khor Road
Area : Ras Al Khor Industrial Area
PO Box : 50708
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 7069770 / 7069777
Facsimile : (971-4) 7069787 /
Email : betai@betag.com
Premises
Subject operates
from a large suite of offices and a factory that are rented and located in the
Industrial Area of Dubai.
Branch Office
(s)
Location Description
·
PO Box:
25204 Office
premises
Abu Dhabi
Tel: (971-2) 6675520
Fax: (971-2) 6675521
KEY PRINCIPALS
Name Nationality Position
·
Mohamed
Rashid Al Daour Jordanian Managing Director
·
Khalid
Juma Al Majid Quraiban Emirati Director
·
Bassam
Nazzal - General
Manager
·
Motasem
Daour - Production
Manager
·
Hamdi
El Baz - Sales
Manager
·
Irfan
Ahmed - Export
Manager
·
Ghassan
Shaker - Finance
Manager
·
Badawi
Yousef Kamel - Branch
Manager – Abu Dhabi
LEGAL FORM & OWNERS
Date of Establishment : 28th
May 1990
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 52984, Dubai
Trade Licence No. : 300482
Chamber Member No. : 19267
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
·
Khalid
Juma Al Majid Quraiban 51%
·
Mohamed
Rashid Al Daour 49%
AFFILIATED COMPANIES
Subject is a member of the Beta Group of Companies, which comprises the
following concerns:
·
Beta
Information Technology (BIT)
PO Box: 19085
Dubai
Tel: (971-4) 2868789
Fax: (971-4) 2868443
·
Dar
Beta Information Technology
PO Box: 19389
Riyadh 11435
Saudi Arabia
Tel: (966-1) 2006066
Fax: (966-1) 2006400
·
MM Al
Daour Factory
PO Box: 355671
Riyadh 11383
Saudi Arabia
·
Precision
Industries
PO Box: 37448
Dubai
Tel: (971-4) 3384033
Fax: (971-4) 3383997
OPERATIONS
Activities: Engaged in the import and distribution of
electro mechanical products and the manufacture of air
conditioning equipment and
systems, including the following products:
- Grilles and Registers
- Ceiling, slot, circular air and swirl air
diffusers
- Louvers
- Ventilation fixtures and accessories
- Exhaust disc valves
- Volume control dampers
- Fire & smoke dampers
Subject was ISO 9002:1994
accredited on 4th November 1999.
Beta products have been installed in many prestigious projects such as
the Dubai Airshow & Duty Free Complex, Marina Mall, Creak Tower, Internet
City, American University, Metropolitan Hotel to name a few.
Import
Countries: Europe,
Australia, Singapore and the United States of America.
International
Suppliers:
·
Bystronic
Laser AG Switzerland
·
Beghelli Italy
·
Prazisa Germany
·
Clipsal Australia
·
Wilson Singapore
·
Vortice Italy
Clients:
·
Gulf
Air Filters Factory Company (Gafco) Saudi
Arabia
Brand Names: BETA
Operating Trend: Steady
Subject has a
workforce of 130 employees.
FINANCIAL DATA
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
44,600,000 UAE Dh
47,100,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
United
Bank Ltd
Murshid Bazaar Branch
PO Box: 1000
Dubai
Tel:
(971-4) 2282025 / 2223191
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Beta Industrial Co
LLC was incorporated in 1990 and is engaged in the manufacture of air conditioning
equipment and systems. It enjoys a good reputation for the quality of its
products that have been installed in many prestigious projects.
The company is run
in a professional manner and is a member of the well known Beta Group of
Companies, which has interests in a number of companies throughout the Emirate.
During the course
of this investigation nothing detrimental was uncovered regarding the manner in
which payment obligations are fulfilled. The operating history is clear and the
financial situation is satisfactory. As such we are of the opinion that the
subject is a fair trade risk and the above credit figure is within subject’s
financial means.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.28 |
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|
1 |
Rs.78.09 |
|
Euro |
1 |
Rs.65.58 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 |
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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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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
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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.