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Report Date : |
16.01.2013 |
IDENTIFICATION DETAILS
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Name : |
INTERNATIONAL CAP LLC (CAPEX) |
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Registered Office : |
Techno Park Sheikh Zayed Road Al Quoz Industrial Area PO Box 283265 Dubai |
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Country : |
United Arab Emirates |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
30.04.2005 |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Manufacturers of metal packaging, caps and seals. |
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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 : |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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UAE |
A2 |
A2 |
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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 |
UAE - ECONOMIC OVERVIEW
The UAE has an open economy with a high per capita income and a sizable annual trade surplus. Successful efforts at economic diversification have reduced the portion of GDP based on oil and gas output to 25%. Since the discovery of oil in the UAE more than 30 years ago, the UAE has undergone a profound transformation from an impoverished region of small desert principalities to a modern state with a high standard of living. The government has increased spending on job creation and infrastructure expansion and is opening up utilities to greater private sector involvement. In April 2004, the UAE signed a Trade and Investment Framework Agreement with Washington and in November 2004 agreed to undertake negotiations toward a Free Trade Agreement with the US, however, those talks have not moved forward. The country's Free Trade Zones - offering 100% foreign ownership and zero taxes - are helping to attract foreign investors. The global financial crisis, tight international credit, and deflated asset prices constricted the economy in 2009. UAE authorities tried to blunt the crisis by increasing spending and boosting liquidity in the banking sector. The crisis hit Dubai hardest, as it was heavily exposed to depressed real estate prices. Dubai lacked sufficient cash to meet its debt obligations, prompting global concern about its solvency. The UAE Central Bank and Abu Dhabi-based banks bought the largest shares. In December 2009 Dubai received an additional $10 billion loan from the emirate of Abu Dhabi. The economy is expected to continue a slow rebound. Dependence on oil, a large expatriate workforce, and growing inflation pressures are significant long-term challenges. The UAE''s strategic plan for the next few years focuses on diversification and creating more opportunities for nationals through improved education and increased private sector employment.
Source
: CIA
Company Name : INTERNATIONAL CAP LLC (CAPEX)
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 30th April 2005
Trade Licence Number : 7012
Chamber Membership Number : 105907
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 180
Activities : Manufacturers of metal packaging, caps and seals.
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Mohamed Massoud, Finance Manager
INTERNATIONAL CAP LLC (CAPEX)
Location : Techno Park
Street : Sheikh Zayed Road
Area : Al Quoz Industrial Area
PO Box : 283265
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 8867066
/ 8866099
Facsimile : (971-4) 8867055
/ 8866088
Email : info@capex.ae
Subject operates from a large suite of offices and a factory that are
rented and located in the Industrial Area of Dubai.
Name Nationality Position
· Sulaiman Bin Abdul Aziz Saleh Al Rajhi
Saudi Managing
Director
· Mostafa Ahmed - General
Manager
· Abdulwahab Azazi - Marketing
Manager
· Tito Donzaga - Sales
Manager
· Mohamed Massoud - Finance
Manager
· Philipe Manapul - Financial
Controller
Date of
Establishment : 30th April
2005
Legal Form : Limited Liability
Company - LLC
Trade Licence No. : 7012 (Expires
29/04/2013)
Chamber Member No. : 105907
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
· Al Wataniya for Industrial Co 99%
Riyadh
Saudi Arabia
· Sulaiman Bin Abdul Aziz Saleh Al Rajhi 1%
Activities: Engaged in the manufacture of metal packaging, caps and seals.
Import Countries: Europe and the Far East.
Operating Trend: Steady
Subject has a workforce of 180 employees.
Financial highlights provided by local sources are given below:
Currency: United Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/11: Year
Ending 31/12/12:
Total Sales UAE
Dh 92,300,000 UAE Dh
97,000,000
Local sources consider subject’s financial condition to be Good.
The above figures were provided by Mr Mohamed Massoud, Finance Manager
·
Emirates National Bank of Dubai
Baniyas Street
PO Box:
777
Dubai
Tel:
(971-4) 2222241
No complaints regarding subject’s payments have been reported.
Local sources report that the subject’s operating history is clear with
payment obligations met in a generally timely manner. The financial position is
satisfactory and the company is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.54 |
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|
1 |
Rs.87.69 |
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Euro |
1 |
Rs.72.85 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
|
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.