MIRA
INFORM REPORT
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Report Date : |
20.01.2012 |
IDENTIFICATION DETAILS
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Name : |
RIDA TECHNICAL SERVICES LTD |
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Registered Office : |
Al Sheikh Street, Al Noflieen Area, Tripoli |
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Country : |
Libya |
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Year of Establishment : |
1997 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Support activities for petroleum and natural gas extraction |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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) |
|
Libya |
B1 |
B1 |
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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 |
Company name
RIDA TECHNICAL SERVICES LTD
Current Recommended Credit
Payment Record: NO COMPLAINTS
Registration Briefing
Registration
Number: N/A
Registration
Date: N/A
Legal
Form: LIMITED
LIABILITY COMPANY
Latest
Financials: N/A
Financial Briefing
Nominal
Capital: N/A
Issued
Capital: N/A
Turnover: N/A
Net
Profit: N/A
Net
Worth:
Company Details
Company
Name: RIDA
TECHNICAL SERVICES LTD
Also
trades as: Rida
T.S.
Headquarter
Address: Al
Sheikh Street, Al Noflieen Area,
Tripoli,
Libya
Telephone: +218
213408044
+218
213408045
+218
213408046
+218
213408047
Fax: +218
213407722
E‑Mail: ahlam@ridats.com
Web
Site: www.ridats.com
Company
was originally started on 1997
Registration & Legal Details
Current
Legal Form: LIMITED
LIABILITY COMPANY
Year/Date
Company Established: 1997
Shareholders
Information on Shareholders is not
available/applicable
Principals
Name: Mr
Haitham Glesa
Position
within the company: General
Manager
Address: haitam@ridats.com
Nationality: Libyan
Can
fluently speak: English
& Arabic
Education: Graduate Degree in Appliad
Sciences from Fachhochschule Dortmund ‑Germa
University
Name: Ms
Ahlam Abdul Razzak
Position
within the company: Executive
Secretary
Address: ahlam@ridats.com
Nationality: Libyan
Can
fluently speak: English
& Arabic
Name: Eng.
Mohamed Hader
Additional
Information: Manager
of Process Engineering
Nationality: Libyan
Can
fluently speak: English
& Arabic
Education: Graduate
Degree in Engineering University
Company Activities
NACE Codes: 0910 Support activities for petroleum and natural gas extraction
Subject is involved in providing technical & supporting services to Energy Plants as (oil and gas, refinery and petrochemical plants, marine, water, and power), Industrial Plants (Food industry, Food industry, Pharmaceutical industry, Pipelines in general, water and products, PVC plants, Water, waste water management) and Marine (Shipyard and marine Services).
The company offers the following services for instrumentation, rotating equipment, metering systems, process technology.
•Surveys and studies,
•Engineering,
•Project management,
•Procurement,
•Training installation and Maintenance.
RIDA T.S. has completed the installation for a KROHNE gas meter package for an Energy Plant in Libya.
RIDA T.S. has also finished successfully the commissioning Including start‑up of a KROHNE pipeline leakage protection system for one of the associated NOC companies.
Operations
HQ Premises Operates
from: Office
Location: Central Business Area
Imports
Import
% and type of product: 100% Finished
Goods
Imports
From: Europe,
Far East
Agencies:
ALLWEILER
Worldwide Germany pumps
Milton
Roy Europe metering pumps and
mixers
Impac Germany energy engineering and
consultancy
services
Flare
Industries, Inc. USA flare systems
Exports
Export
% and type of product: Subject does
not export
Trading & Selling
Territory: 100%
Nationally
Additional
Information: Contracting
Type
of Customer: General Public,
Government Bodies, Energy Plants
&
Companies, Industrial Plants and Companies,
Marine
Related Companies
Subsidiaries
Affiliates
Honeywell
Libya JV
Libya
Start
Date: 2010
Operates as: Joint Stock Company between
Honeywell & Rida T.S Ltd, involved in Technical
Engineering.
Related
through: a common principal
Bankers
Information
on Bankers is not available/applicable
Payments
Subject's
payments reported to be: NO COMPLAINTS
Interview & Reporter Comments
Name/Title: Ms.
Ahlam Abdul Razzak Executive Secretary
Comment: We
have sent a fax/e‑mail/questionnaire however no reply has been received
as of yet.
Reporter Comment: We have contacted Subject Company and talked to the responsible person, Ms. Ahlamd Abdul Razzak, who asked us to send her a written request for the information in order to show it to the management team and then prepare the required information and send it back within few days.
However, the information provided in our report was gathered from subject's website, business directories, internet, and through our contacts with Subject Company; and as soon as we receive additional information we shall send it to you at once.
Conclusions
Accounts Comments: Full Financial Statements were unavailable to local analysts so a complete and accurate picture of the financial strength of the company could not be ascertained. Our assessment and ratings are therefore based on non‑financial data.
Local Reputation: The company being investigated is considered by local reporters to be a Fair / Normal Trade Risk.
General Conclusion: Local informants consider granting of credit to be a fair trade risk.
Age of Business: The company is long established in the local market.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.50.29 |
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|
1 |
Rs.77.60 |
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Euro |
1 |
Rs.64.67 |
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 |
-- |
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.