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Report Date : |
06.02.2014 |
IDENTIFICATION DETAILS
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Name : |
SSI SCHAEFER LLC |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
03.11.2001 |
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Com. Reg. No.: |
57757, |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Subject is engaged in the import and distribution of workshop
equipment, logistic systems, transport and storage containers, racking and
shelving systems, refrigeration and cold storage equipment, airport equipment
and lift and escalator spare parts |
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No. of Employees : |
25 |
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 – September 30, 2013
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Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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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 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
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Source
: CIA |
Company Name : SSI SCHAEFER LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 3rd November 2001
Commercial Registration Number : 57757, Dubai
Trade Licence Number : 530064
Chamber Membership Number : 65732
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 25
Activities : Distributors of workshop equipment, logistic systems, transport and storage containers, racking and shelving systems, refrigeration and cold storage equipment, airport equipment and lift and escalator spare parts.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
SSI SCHAEFER LLC
Location : Dubai
Logistics City, Plot WB54
PO Box : 37600
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 8048100
Facsimile : (971-4)
8048179
Email : info@ssi-schaefer.ae
Please note that subject’s previous address was Swaidan Building, 1st
Floor, Sheikh Zayed Road, Al Quoz Industrial Area, Dubai.
Subject operates from a medium sized suite of offices that are rented
and located in the Industrial Area of Dubai.
Name Nationality Position
· Sultan Saeed
Mohamed Nasser Al Mansoori Emirati Managing Director
· Mathew Hova - General Manager
· Jaykanth Machery - Finance
Manager
· Srikant Kawadia - Sales
Manager
Date of
Establishment : 3rd
November 2001
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 57757, Dubai
Trade Licence No. : 530064
Chamber Member No. : 65732
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
· Sultan Saeed
Mohamed Nasser Al Mansoori 51%
· SSI Schaefer
Holding International GmbH 49%
Germany
Activities: Engaged in the import and distribution of workshop equipment, logistic
systems, transport and storage
containers, racking and shelving systems, refrigeration and cold storage
equipment, airport equipment and lift and escalator spare parts.
Import Countries: Europe and the Far East.
Operating Trend: Steady
Subject has a workforce of 25 employees.
Financial highlights provided by local sources are given below:
Currency: United Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/12: Year
Ending 31/12/13:
Total Sales UAE
Dh 12,000,000 UAE Dh
12,395,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
Emirates National Bank of Dubai
Baniyas Street
PO Box:
777
Dubai
Tel:
(971-4) 2222555
Fax:
(971-4) 2221110
No complaints regarding subject’s payments have been reported.
Local sources report that payment obligations are met in a generally
timely manner and the operating history is clear. As such the company is deemed
a fair trade risk and the above credit figure is considered to be within
subject’s financial means.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.45 |
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1 |
Rs.102.01 |
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Euro |
1 |
Rs.84.35 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIS |
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.