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Report Date : |
15.02.2012 |
IDENTIFICATION DETAILS
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Name : |
EMIRATES SPECIALITIES CO LLC (ESCO) |
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Registered Office : |
Plot No. 671B Sheikh Zayed Road Al Quoz Industrial Area PO Box 3880
Dubai |
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Country : |
United Arab Emirates |
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Financials (as on) : |
31.12.2011 |
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Year of Establishment : |
1967 |
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Com. Reg. No.: |
40415, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Import and distribution of building materials. |
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No. of Employees : |
180 |
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 |
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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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
UAE |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company Name : EMIRATES SPECIALITIES CO LLC (ESCO)
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Start Date : 1967
Registration Date : 26th October 1983
Commercial Registration Number : 40415, Dubai
Trade Licence Number : 204317
Chamber Membership Number : 11049
Issued Capital : UAE Dh 20,000,000
Paid up Capital : UAE Dh 20,000,000
Total Workforce : 180
Activities : Import and distribution of building materials.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Jean Saade, Finance Manager
EMIRATES SPECIALITIES CO LLC (ESCO)
Location : Plot No. 671B
Street : Sheikh Zayed
Road
Area : Al Quoz
Industrial Area
PO Box : 3880
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 3470767
Facsimile : (971-4)
3470765
Email : ecscodub@eirates.net.ae
/ dubai@esco.ae
Subject operates from a large suite of offices and a warehouse that are
owned and located in the Industrial Area of Dubai.
Branch Office (s)
Location Description
· Tourist Club Area Office
and warehouse premises
PO Box: 46564
Abu Dhabi
Tel: (971-2)
6784800
Fax: (971-2)
6778366
· PO Box: 36156 Office
and warehouse premises
Sharjah
Tel: (971-6) 5431716
Fax: (971-6) 5431909
Name Nationality Position
· Fouad Phillip
Bardawil British Managing
Director
· Mohamed Saeed
Khalf Al Ghaith Emirati Director
· Mohamed Al Fandi
Ghanim Al Mazroei Emirati Director
· Abdulla Yousuf
Ahmed Al Ghanem Kuwaiti Director
· Phillip Fouad
Bardawil British Director
· Marwan Fouad
Bardawil British Director
· Sumaya Bardawil British Director
· Albert Fouad
Bardawil British Director
· Yousuf Ibrahim Al
Ghanem Kuwaiti Director
· Jassim Abdulaziz
Abdulwahab Al Qatami Kuwaiti Director
· Iskandar Bendaly - Sales
Manager
· Mohamed Shafique - Business
Development Manager
· Geoff Bayes - Business
Manager
· Johnny Jabbour - Contracts
Manager
· Jean Saade - Finance
Manager
· Elias Bardawil - Commercial
Manager
· Khadija Oumani - Customer
Service Manager
· Riad Natour - Abu
Dhabi Branch Manager
· Reji Abraham - Sharjah
Branch Manager
Date of Establishment : Subject’s operations date back to 1967,
however it was registered on 26th October 1983
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 40415, Dubai
Trade Licence No. : 204317 (Expires 16/10/2012)
Chamber Member No. : 11049
Issued Capital : UAE Dh 20,000,000
Paid up Capital : UAE Dh 20,000,000
· Fouad Phillip
Bardawil 19.50%
· Gibca Ltd Co LLC 17.10%
Sharjah
· Mohamed Saeed
Khalf Al Ghaith 14.75%
· Abdulla Yousuf Ahmed
Al Ghanem 9.15%
· Mohamed Al Fandi
Ghanim Al Mazroei 9.10%
· Mazrui Holding
Company LLC 9.05%
Dubai
· Yousuf Ibrahim Al
Ghanem 8.20%
· Jassim Abdulaziz
Abdulwahab Al Qatami 8.15%
· Phillip Fouad
Bardawil 1.25%
· Marwan Fouad
Bardawil 1.25%
· Sumaya Bardawil 1.25%
· Albert Fouad
Bardawil 1.25%
· Bardawil & Co
CEM Sarl
Beirut
Lebanon
Tel: (961-1)
879900
Fax: (961-1)
884187
· Al Bahar &
Bardawil Specialities WLL
Safat 13064
Kuwait
Tel: (965)
24347363
Fax: (965)
24346813
· Bardawil
Specialities Qatar WLL
Doha
Qatar
Tel: (974)
44699436
Fax: (974)
44699435
· Al Bahar &
Bardawil WLL
Dubai
United Arab
Emirates
Tel: (971-4)
2823933
Fax: (971-4)
2821970
· Speciality Engineering
Chemicals FZE
Dubai
United Arab
Emirates
Tel: (971-4)
8836662
Fax: (971-4)
8837696
· Bardawil Aviation
Company Sal
Beirut
Lebanon
Tel: (961-1)
894533
Fax: (961-1)
884187
· Building Chemical
Research Ltd
Manchester
United Kingdom
Tel: (44-161)
7232237
Fax: (44-161)
7247699
· Bardawil Aviation
Co (Offshore) Sal
Dubai
United Arab
Emirates
Tel: (971-4)
2995885
Fax: (971-4)
2995858
· Juffali Chemical
Product Ltd
Jeddah
Saudi Arabia
Tel: (966-2)
6633516
Fax: (966-2)
6606508
· Bardawil
Specialities Sal
Beirut
Lebanon
Tel: (961-1)
872200
Fax: (961-1)
879917
Activities: Engaged in the import and distribution of building materials,
construction materials, architectural products, tools and industrial equipment,
shelving & storage and environmental products for all types of engineering
projects. In addition, the company also undertakes application of specialised
systems such as industrial and decorative flooring, concrete repair, and
coloured renders.
Import Countries: United States of America, Singapore, Belgium,
Switzerland and Germany.
International Suppliers:
· C.I.M. Industries
Inc United States
of America
· The Expanded Metal
Group Pte Ltd Singapore
· Besaplast
Kunststoffe GmbH Germany
· Dow Corning Europe Belgium
· Saint Gobain
Performance Plastics Belgium
· Fritz Landolt AG Switzerland
Operating Trend: Steady
Subject has a workforce of approximately 180 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 108,500,000 UAE Dh
115,000,000
Local sources consider subject’s financial condition to be Good.
The above figures were provided by Mr Jean Saade, Finance Manager
·
United Arab Bank
Deira Branch
Dubai
Tel: (971-4)
2220181
·
Emirates Bank International Ltd
PO Box: 52088
Dubai
Tel: (971-4)
2220266
No complaints regarding subject’s payments have been reported.
Credit amount 206,000
Amount overdue 0
Payment terms 90
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency Pounds
Sterling
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.49.33 |
|
|
1 |
Rs.77.41 |
|
Euro |
1 |
Rs.64.84 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.