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Report No. : |
317837 |
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Report Date : |
21.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
IMPERBIT MEMBRANE INDUSTRIES LLC (IMI) |
|
|
|
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Registered Office : |
Plot No. 159B, Al Ain – Hatta Road, Jebel Ali Industrial Area No. 3,
PO Box 33150, Dubai |
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|
|
|
Country : |
United
Arab Emirates |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
20.11.1995 |
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|
|
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Com. Reg. No.: |
54426 |
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|
|
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Legal Form : |
Limited Liability Company |
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|
|
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Line of Business : |
Engaged in the manufacture of insulation materials and waterproof
membranes, as well as a range of specialized products such as twin core
bridge-deck waterproofing membranes, anti-root membranes and double-sided
adhesive sheets, bituminous protection boards and bituminous primers. |
|
|
|
|
No. of Employees : |
70 |
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 |
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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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. 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
and ultimately a $20 billion bailout from the UAE Central Bank and Abu
Dhabi-emirate government that was refinanced in March 2014. 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 :
IMPERBIT MEMBRANE INDUSTRIES LLC (IMI)
Country of Origin :
Dubai, United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date :
20th November 1995
Commercial Registration Number :
54426, Dubai
Trade Licence Number :
301078
Chamber Membership Number :
37025
Issued Capital :
UAE Dh 8,000,000
Paid up Capital :
UAE Dh 8,000,000
Total Workforce :
70
Activities :
Manufacturers of insulation materials and waterproof membranes.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Sayed Masood Qaderi, Production Manager
IMPERBIT MEMBRANE INDUSTRIES LLC (IMI)
Registered &
Physical Address
Building : Plot No. 159B
Street : Al Ain –
Hatta Road
Area : Jebel Ali
Industrial Area No. 3
PO Box : 33150
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 8801616
Facsimile : (971-4)
8801661
Email : imperbit@emirates.net.ae
/ imi@alyousuf.com
Premises
Subject operates from a suite of offices and a factory covering an area
of 40,000 square metres that are rented and located in the Industrial Area of
Dubai.
Name Position
Yousuf Habib Hassan Al Yousuf Managing
Director
Ashok Sirvas Tawar General
Manager
Zakeer Hussain Deputy
General Manager
Shahid Butt Accounts
Manager
Elias Baleed Commercial
Manager
Sayed Masood Qaderi Production
Manager
Dr Isrash Khan Technical
Manager
Date of Establishment : 20th
November 1995
Legal Form : Limited Liability
Company - LLC
Commercial Reg. No. : 54426, Dubai
Trade Licence No. : 301078 (Expires
19/11/2015)
Chamber Member No. : 37025
Issued Capital : UAE Dh 8,000,000
Paid up Capital : UAE Dh 8,000,000
Name of
Shareholder (s) Percentage
Al Yousuf LLC 99%
Sheikh Zayed Road
PO Box: 25
Dubai
Tel: (971-4) 2260000
Fax: (971-4) 2260006
Yousuf Habib Hassan Al Yousuf 1%
Subject is a member of the Al Yousuf Group of Companies, which consists
of the following concerns:
Name Stake
Held
Al Yousuf Insulation Materials Industries
100 %
PO Box: 25149
Dubai
Tel: (971-4) 2513633
Fax: (971-4) 2554481
Al Yousuf Trading Pvt Ltd
100 %
Karachi
Pakistan
Gulf Shipping LLC 70 %
PO Box: 2578
Dubai
Tel: (971-4) 2521451
Fax: (971-4) 2524024
Afeeyat Corporation 60 %
PO Box: 171
Dubai
Tel: (971-4) 2263773
Fax: (971-4) 2254767
Al Yousuf Exchange 50 %
PO Box: 25
Dubai
Tel: (971-4) 2267920
Fax: (971-4) 2266660
Al Yousuf Jewellery 50 %
PO Box: 25
Dubai
Tel: (971-4) 2267920
Fax: (971-4) 2266660
Arab Commercial Enterprises LLC 51 %
PO Box: 1100
Dubai
Tel: (971-4) 2958881
Fax: (971-4) 2957779
United Trade & Imports 50 %
117 Osman Ibn Affan Street
Heliopolis
Cairo
Egypt
Tel: (20-2) 22912166
Fax: (20-2) 22912083
Mohamed Alawi Geoffrey & Partner Ltd 50 %
Jeddah
Saudi Arabia
Activities: Engaged in the manufacture of insulation materials and waterproof
membranes, as well as a range of specialized products such as twin core
bridge-deck waterproofing membranes, anti-root membranes and double-sided adhesive sheets, bituminous
protection boards and bituminous primers.
Subject is ISO 9001:2000 accredited
Import Countries: India, Italy, Germany and the United States of
America
Export Countries: GCC countries
Operating Trend: Steady
Subject has a workforce of 70 employees.
Financial highlights provided by local sources are given below:
Currency: United Arab Emirates Dirham (UAE Dh)
Year Ending 31/12/13: Year Ending 31/12/14:
Total Sales UAE
Dh 25,550,000 UAE Dh
27,000,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
Union National Bank
Baniyas Street
PO Box: 6811
Dubai
Tel: (971-4) 2211188
Standard Chartered Bank
Jebel Ali Free Zone
PO Box: 999
Dubai
Tel: (971-4) 8856600
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.62.56 |
|
|
1 |
Rs.93.56 |
|
Euro |
1 |
Rs.67.49 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
TPT |
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.