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Report Date : |
18.06.2013 |
IDENTIFICATION DETAILS
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Name : |
KAEFER LLC |
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Registered Office : |
Kaefer House, 1st Floor |
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Country : |
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Date of Incorporation : |
28.06.1993 |
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Com. Reg. No.: |
25437, |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Subject operates several divisions like Industry Division, Marine and Offshore Division, Construction Division |
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No. of Employees : |
1,550 |
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 : |
Regular |
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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, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
UAE |
A2 |
A2 |
|
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 |
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 country
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. 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 : KAEFER LLC
Country of Origin : Abu Dhabi, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 28th June 1993
Commercial Registration Number : 25437,
Trade Licence Number : 1018518
Chamber Membership Number : 15992
Issued Capital : UAE Dh 500,000
Paid up Capital : UAE Dh 500,000
Total Workforce : 1,550
Activities : Subject operates several divisions (see below for details)
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
KAEFER LLC
Building : Kaefer
House, 1st Floor
Street : 10th
Street, Plot No. 15
Area : Al Musaffah
Industrial City
PO Box : 28803
Town : Abu Dhabi
Country : United Arab
Emirates
Telephone : (971-2) 5544511
/ 6427442
Facsimile : (971-2)
5544525
Subject operates from a large suite of offices that are rented and
located in the Industrial Area of Abu Dhabi.
Branch Office (s)
Location Description
· Doha Office
premises
Qatar
Tel: (974)
44134254
Fax: (974)
44134257
· Al Khobar Office
premises
Saudi Arabia
Tel: (966-3)
8875908
Fax: (966-3)
8875909
· Bahrain Office
premises
· Kuwait Office
premises
Tel: (965)
23925937
Fax: (965)
23925939
Name Position
· Ramnik Datti Managing
Director
· V M Shah General
Manager
· J P Durai Business
Development Manager
· Unni Krishnan Accounts
Manager
· Maha Devan Human
Resources Manager
Date of
Establishment : 28th
June 1993
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 25437, Abu Dhabi
Trade Licence No. : 1018518 (Expires 27/11/2013)
Chamber Member No. : 15992
Issued Capital : UAE Dh 500,000
Paid up Capital : UAE Dh 500,000
· Al Emad
Enterprises
Abu Dhabi
· Kaefer Isolier
Technik
Germany
· Kaefer Insulation
LLC
Sohar
Oman
Tel: (968) 26847428
Fax:
(968) 26847425
Activities: Subjects operations are performed through the following divisions:
·
Industry Division
Engaged in the
provision of contractors for all industries.
·
Marine and Offshore Division
Engaged in the provision of turnkey solutions for new builds and refits
on cruise liners, yachts and naval vessels
·
Construction Division
Engaged in the provision
of planning, project management and construction.
Import Countries: Europe and GCC countries.
Subject has a workforce of approximately 1,550 employees.
Companies registered in Abu Dhabi, United Arab Emirates are not legally
required to make their accounts public and no financial information was
released by the company or submitted by outside sources.
·
National Bank of Abu Dhabi
Sheikh Khalifa
Street
PO Box: 4
Abu Dhabi
Tel: (971-2)
6345777 / 6327113 / 6335262
Fax: (971-2)
6336078
No complaints regarding subject’s payments have been reported.
Please note that the name you requested “Kaefer Insulation LLC” is a
sister company of the subject’s located in Oman. There is no company called
“Kaefer Insulation LLC” registered in Abu Dhabi.
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.57.73 |
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|
1 |
Rs.90.61 |
|
Euro |
1 |
Rs.76.96 |
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 |
|
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 |
|
<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.