MIRA INFORM REPORT

 

 

Report Date :           

06.01.2012

 

IDENTIFICATION DETAILS

 

Name :

KIRBY BUILDING SYSTEMS (UAE) LLC

 

 

Registered Office :

Industrial Area No. 2, Al , Jazeerah Al Hamra, P O Box 6624, Al Khaimah

 

 

Country :

United Arab Emirates 

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

10.09.2006

 

 

Com. Reg. No.:

24426

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Manufacture of steel structures and buildings

 

 

No. of Employees :

250

 

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$ 1,000,000

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                                     : KIRBY BUILDING SYSTEMS (UAE) LLC

Country of Origin                                    : Ras Al Khaimah, United Arab Emirates

Legal Form                                            : Limited Liability Company - LLC

Registration Date                                   : 10th September 2006

Commercial Registration Number                        : 24426

Trade Licence Number                            : RAKIA 281Z208060073

Chamber Membership Number                : 84606

Issued Capital                                        : UAE Dh 25,000,000

Paid up Capital                                      : UAE Dh 25,000,000

Total Workforce                                     : 250

Activities                                               : Manufacture of steel structures and buildings.

Financial Condition                                 : Good

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 1,000,000

 

COMPANY NAME

 

KIRBY BUILDING SYSTEMS (UAE) LLC

 

 

company ADDRESS

 

Registered & Physical Address

Location            : Industrial Area No. 2, Al Jazeerah Al Hamra

PO Box             : 6624

Town                 : Ras Al Khaimah

Country             : United Arab Emirates

Telephone         : (971-7) 2043333 / 2043300

Facsimile          : (971-7) 2447830 / 2447461

Email                : kirbyrak@alghanim.com

 

Premises

Subject operates from a large suite of offices and a factory that are owned and located in the Industrial Area of Ras Al Khaimah.

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Taher Banker                                                                                    General Manager

 

·       Jeno Zakaria                                                                         Financial Controller

 

·       Sadiq Pasha                                                                                     Plant Manager

 

·       Anil Kumar                                                                                       Human Resources Manager

 

·       Sayed Shahid                                                                                   Purchasing Manager

 

·       Khalid Al Jabry                                                                                  Estimation Manager

 

·       Varghese Samuel                                                                              Production Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 10th September 2006

 

Legal Form                  : Limited Liability Company - LLC

 

Commercial Reg. No.  : 24426

 

Trade Licence No.       : RAKIA 281Z208060073

 

Chamber Member No. : 84606

 

Issued Capital              : UAE Dh 25,000,000

 

Paid up Capital            : UAE Dh 25,000,000

 

Name of Shareholder (s)

 

·       Kirby Kuwait

     Mina Abdullah Industrial Area, Block 2

     PO Box: 23933

     Safat 13100

     Kuwait

     Tel: (965) 23262800

     Fax: (965) 23261793

 

·       Kuwait Insulation Materials Manufacturing Co

PO Box: 10042

Shuaiba 65451

Kuwait

Tel: (965) 23262020

Fax: (965) 23262027

 

 

AFFILIATED COMPANIES

 

·       Kirby Building Systems - India Ltd

     Plot Nos.8-15, IDA, Phase III, Pashamylaram, Medak District

     Andhara Pradesh

     India

     Tel: (91-8455) 224401

     Fax: (91-8455) 224419

 

 

OPERATIONS

 

Activities: Engaged in the manufacture of steel structures and buildings.

 

Import Countries: India and Europe.

 

Operating Trend: Steady

 

Subject has a workforce of approximately 250 employees.

 

 

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: United Arab Emirates Dirham (UAE Dh)

 

                                                Year Ending 31/12/09:                Year Ending 31/12/10:

 

Total Sales                                UAE Dh 150,000,000                  UAE Dh 155,000,000

 

Local sources consider subject’s financial condition to be Good.

 

The above financial figures are based on estimations by our local sources.

 

 

BANKERS

 

·       HSBC Bank Middle East

Corniche Road

PO Box: 9

Ras Al Khaimah

Tel: (971-7) 2333544

Fax: (971-7) 2330200

 

 

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.52.78

UK Pound

1

Rs.82.33

Euro

1

Rs.68.19

 

 

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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