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Report Date : |
17.05.2012 |
IDENTIFICATION DETAILS
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Name : |
EMVER PAINTS INDUSTRY LLC |
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Registered Office : |
Sheikh Zayed Road Jebel Ali Free Zone, Area |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
18.05.1997 |
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Com. Reg. No.: |
61638, |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Manufacture of paint, adhesives, sealants and pigments. |
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No. of Employees : |
180 |
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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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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
UAE |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
|
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 : EMVER PAINTS INDUSTRY LLC
Country of Origin :
Legal Form : Limited Liability Company - LLC
Registration Date : 18th May 1997
Commercial Registration Number :
61638,
Trade Licence Number : 301351
Chamber Membership Number : 43762
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 180
Activities : Manufacture of paint, adhesives, sealants and pigments.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
EMVER PAINTS INDUSTRY LLC
Street :
Area : Jebel Ali
Free Zone, Area No. 2
PO Box : 47403
Town :
Country :
Telephone : (971-4) 8802255
Facsimile : (971-4)
8802266
Email : emver@emirates.net.ae
Subject operates from a large suite of offices and a factory that are
rented and located in the Jebel Ali Free Zone Area of Dubai.
Name Nationality Position
· Rabea Antonyus
Raeedi Lebanese Managing Director
·
· Mohamed Abdulkarim
Abdul Rasool Emirati Director
· Ranee David - Chief Financial Officer
· Pauo Ballabio - Factory
Manager
· Medhat Zein - Sales
Manager
Date of
Establishment : 18th
May 1997
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 61638,
Trade Licence No. : 301351 (Expires 17/05/2013)
Chamber Member No. : 43762
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
· Rabea Antonyus
Raeedi 34%
· Salem Obaid Salem
Obaid Al Suwaidi 33%
· Mohamed Abdulkarim
Abdul Rasool 33%
Activities: Engaged in the manufacture of paint, adhesives, sealants and pigments.
The company specialises in wood coating as well as various paints including
NC., PU., polyester, acrylic, acid curing, epoxy, synthetic, universal wood
stain and special effect paints.
Import Countries: Europe and the
Operating Trend: Steady
Subject has a workforce of approximately 180 employees.
Financial highlights provided by local sources are given below:
Currency:
Year
Ending 31/12/10: Year
Ending 31/12/11:
Total Sales UAE
Dh 57,850,000 UAE Dh
59,400,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
Mashreq Bank Plc
Deira Branch
PO Box: 1250
Tel: (971-4)
2229131 / 2221134
·
Banque Banorab
Tel:
(971-4) 2284655
No complaints regarding subject’s payments have been reported.
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.54.29 |
|
|
1 |
Rs.86.61 |
|
Euro |
1 |
Rs.68.87 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
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 |
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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 |
|
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.