|
Report Date : |
04.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
AL DOBOWI LLC |
|
|
|
|
Registered Office : |
Shed Nos, 209 & 210, Exit No 119, Sheikh Mohammed Bin Zayed
Street, Al Jazeera Al Hamra, 35102, Ras Al Khaimah |
|
|
|
|
Country : |
United Arab Emirates |
|
|
|
|
Financials (as on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation : |
22.08.2007 |
|
|
|
|
Legal Form : |
Limited Liability Company - LLC |
|
|
|
|
Line of Business : |
Engaged in the manufacture of industrial battery cells. |
|
|
|
|
No of Employees : |
150 |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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 |
UNITED ARAB
EMIRATES - 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 : AL DOBOWI LLC
Also Known As : ETERNITY TECHNOLOGIES
Country of Origin : Ras Al Khaimah, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 22nd August 2007
Trade Licence Number : RAKIA 34IZ208070590
Issued Capital : UAE Dh 1,500,000
Paid up Capital : UAE Dh 1,500,000
Total Workforce : 150
Activities : Manufacturers of industrial battery cells
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Johan Mathew, Finance Manager
AL DOBOWI LLC
ALSO KNOWN AS: ETERNITY
TECHNOLOGIES
Location : Shed Nos, 209
& 210, Exit No 119, Sheikh Mohammed Bin Zayed Street, Al Jazeera Al Hamra
PO Box : 35102
Town : Ras Al
Khaimah
Country : United Arab
Emirates
Telephone : (971-7) 2433535
Facsimile : (971-7)
2433536
Mobile : (971-50)
6521332
Email : info@eternity-technologies.com
Subject operates from a large suite of offices and a factory that are
rented and located in the Industrial Area of Ras Al Khaimah.
Name Position
· Milind Dashpande General
Manager
· Richard Conlom Commercial
Manager
· Mahes Kulur Accounts
Manager
· Johan Mathew Finance
Manager
· John Egerton Production
Manager
· Stephen David Leys Operations
Manager
Date of
Establishment : 22nd
August 2007
Legal Form : Limited Liability
Company - LLC
Trade Licence No. : RAKIA 34IZ208070590 (Expires 17/08/2015)
Issued Capital : UAE Dh 1,500,000
Paid up Capital : UAE Dh 1,500,000
· RAKIA Investment
Authority 51%
Ras Al Khaimah
· Kandvest Partner
Ltd 49%
British Virgin
Islands
· Al Dobowi Group
Jebel Ali Free
Zone
Dubai
Tel: (971-4)
8836661
· Eternity
Technologies FZ LLC
Al Jazeera Al
Hamra
PO Box: 35102
Ras Al Khaimah
Tel: (971-7)
2433535
Fax: (971-7)
2433536
Activities: Engaged in the
manufacture of industrial battery cells.
Import Countries: France,
Germany and India
International
Suppliers:
· MSS India Ltd India
· Darmic SAS France
· Hadi GmbH Germany
· Sun Metal LLC Sharjah
· Garments Trim & Accessories Dubai
Operating Trend: Steady
Subject has a workforce of approximately 150 employees.
Financial highlights provided by local sources are given below:
Currency: United Arab Emirates Dirham (UAE Dh)
Year
Ending 31/03/13: Year Ending
31/03/14:
Total Sales UAE
Dh 119,596,250 UAE Dh
191,420,268
Local sources consider subject’s financial condition to be Good.
The above figures were provided by Mr Johan Mathew, Finance Manager
·
National Bank of Ras Al Khaimah
NBRAK Building
PO Box: 5300
Ras Al Khaimah
Tel: (971-7)
2221127
Fax: (971-7) 2224202
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.61.41 |
|
|
1 |
Rs.98.06 |
|
Euro |
1 |
Rs.76.67 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SMN |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.