MIRA INFORM REPORT

 

 

Report Date :

11.05.2012

 

IDENTIFICATION DETAILS

 

Name :

SHARJAH OXYGEN COMPANY (SOC)

 

 

Registered Office :

Green Belt, Industrial Area No. 1, P O Box 800, Sharjah

 

 

Country :

United Arab Emirates

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

18.11.1980

 

 

Com. Reg. No.:

3673, Sharjah

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Manufacturers of medical and specialty gases

 

 

No. of Employees :

320

 

 

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

 

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 – March 31st, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

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                                     : SHARJAH OXYGEN COMPANY (SOC)

Country of Origin                                    : Sharjah, United Arab Emirates

Legal Form                                            : Limited Liability Company - LLC

Registration Date                                   : 18th November 1980

Commercial Registration Number            : 3673, Sharjah

Trade Licence Number                            : 3115

Chamber Membership Number                : 7439

Issued Capital                                        : UAE Dh 12,770,000

Paid up Capital                                      : UAE Dh 12,770,000

Total Workforce                                     : 320

Activities                                               : Manufacturers of medical and specialty gases.

Financial Condition                                 : Good

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Person Interviewed                                 : R G Anki, Auditor

 

 

 

COMPANY NAME

 

SHARJAH OXYGEN COMPANY (SOC)

 

 

company ADDRESS

 

Registered & Physical Address

Location            : Green Belt, Industrial Area No. 1

PO Box             : 800

Town                 : Sharjah

Country             : United Arab Emirates

Telephone         : (971-6) 5336481 / 5261199 / 5337591

Facsimile          : (971-6) 5330942

Email                : soc@emirates.net.ae / soc@sharjahoxygen.ae / admin@sharjahoxygen.ae

 

Premises

Subject operates from a large suite of offices and a factory that are rented and located in the Industrial Area of Sharjah.

 

Branch Office (s)

 

     Location                                                                                          Description                                                     

·       Industrial Area No.2                                                                           Office premises

Sharjah

Tel: (971-6) 5337591

Fax: (971-6) 5338701

 

·       Jebel Ali Free Zone                                                                            Office premises

Dubai

Tel: (971-4) 8832411

Fax: (971-4) 8835468

 

·       Hamriyah Free Zone                                                                          Office premises

Sharjah

Tel: (971-6) 5261199

Fax: (971-6) 5261099

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Emad Awadah                                                                                  Managing Director

 

·       Nada Awadah                                                                                   Director

 

·       Rahul Narain                                                                                     General Manager

 

·       John Danilian                                                                                    Operations Manager

 

·       Umesh Gosalia                                                                                 Accounts & Administration Manager

 

·       Wilfredo G Jolindon                                                                           Project Manager

 

·       Naveen Madtha                                                                                 Marketing & Logistics Manager

 

·       Fahed Abuhijleh                                                                                Sales Manager

 

·       Arun Nediyath                                                                                   IT Manager

 

·       Philip Dsouza                                                                                   Branch Manager           

 

·       R G Anki                                                                                          Auditor

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 18th November 1980

 

Legal Form                  : Limited Liability Company - LLC

 

Commercial Reg. No.  : 3673, Sharjah

 

Trade Licence No.       : 3115 (Expires 27th October 2012)

 

Chamber Member No. : 7439

 

Issued Capital              : UAE Dh 12,770,000

 

Paid up Capital            : UAE Dh 12,770,000

 

Name of Shareholder (s)

 

·       Sarah Anwar Qambr Assadi

·       Anwar Qambr Assadi

 

 

AFFILIATED COMPANIES

 

·       Abu Dhabi Oxygen Establishment

PO Box: 4512

Abu Dhabi

Tel: (971-2) 5554351

Fax: (971-2) 5553827

 

·       Ras Al Khaimah Oxygen (RACO)

PO Box: 5029

Ras Al Khaimah

Tel: (971-7) 2221029

Fax: (971-7) 2221027

 

 

OPERATIONS

 

Activities: Engaged in the manufacture and supply of medical and specialty gases, including medical oxygen, nitrous oxide, medical gas mixture and dry ice.

 

Import Countries: Europe and the Far East.

 

Operating Trend: Steady

 

Subject has a workforce of approximately 320 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 72,500,00                     UAE Dh 76,100,000

 

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

 

The above figures were provided by Mr R G Anki, Auditor

 

 

BANKERS

 

·       Standard Chartered Bank

Al Boorj Avenue

PO Box: 5

Sharjah

     Tel: (971-6) 5357788

     Fax: (971-6) 5543604

 

 

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.53.34

UK Pound

1

Rs.86.11

Euro

1

Rs.69.07

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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.