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Report No. : |
337991 |
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Report Date : |
27.08.2015 |
IDENTIFICATION DETAILS
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Name : |
UNISAFE FIRE
PROTECTION SPECIALISTS LLC |
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Registered Office : |
City Tower No. 2,
10th Floor, Suite No. 1002, Sheikh Zayed Road, P O Box: 117579
& 3168, Dubai |
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Country : |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
26.12.1998 |
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Com. Reg. No.: |
1007351, |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Import,
Distribution, Installation and Maintenance of Fire Extinguishing and Safety
Equipment. |
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No. of Employees : |
82 |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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United Arab Emirates |
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 |
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 of 2008, 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 economic diversification and creating more job opportunities for nationals
through improved education and increased private sector employment.
|
Source
: CIA |
Company Name : UNISAFE FIRE
PROTECTION SPECIALISTS LLC
Country of Origin : Dubai,
United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date : 26th
December 1998
Commercial
Registration Number : 1007351,
Dubai
Trade Licence
Number : 509352
Chamber Membership
Number : 44509
Issued Capital : UAE Dh
30,625,000
Paid up Capital : UAE Dh
30,625,000
Total Workforce : 82
Activities :
Import, distribution, installation and maintenance of fire extinguishing
and
safety equipment
Financial Condition : Good
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Ashraf
Arappoil, Accountant
UNISAFE FIRE
PROTECTION SPECIALISTS LLC
Building : City Tower No. 2, 10th
Floor, Suite No. 1002
Street : Sheikh Zayed Road
PO Box : 117579 & 3168
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3514124
Facsimile : (971-4) 3518494
Email : unisafe@emirates.net.ae / info@unisafedxb.com
Subject operates
from a medium sized suite of offices and a warehouse that are rented and located
in the Industrial Area of Dubai.
Please note that subject’s previous address was, Saif Abdullah Ash
Shafar Building (Unisafe House), Ras Al Khor Road, Ras Al Khor Industrial Area,
Al Aweer, Dubai.
Branch Offices
Location Description
·
PO Box:
33282 Office
premises
Abu Dhabi
Tel: (971-2) 5511132
Fax: (971-2) 5515856
Name Nationality Position
·
Saif
Abdullah Ali Saif Al Shafar Emirati Chairman
·
Manohar
Gopal Bidaye - Vice
Chairman
·
Thulasiram
Periyannan Ramasamy - Managing
Director
·
Pramoud
Rao - Director
·
Gurjit
Singh Grewal - Director
·
Mohini
Suvarna - Finance
Manager
·
Madhu
Menon - Human
Resources Manager
·
Ashraf
Arappoil - Accountant
·
Satesh
Talapdy - Procurement
Manager
Date of Establishment : 26th
December 1998
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 1007351,
Dubai
Trade Licence No. : 509352
Chamber Member No. : 44509
Issued Capital : UAE Dh 30,625,000
Paid up Capital : UAE Dh 30,625,000
·
Saif
Abdullah Ali Saif Al Shafar 51%
·
Unisafe
Fire Protection Specialists Singapore Pte Ltd 41%
89 Short Street
No. 03-01 Golden Center
Singapore 188216
·
Zicom
Electronic Security Systems Ltd 8%
501 Silver Metropolis
Western Express Highway
Goregaon East
Mumbai 400 063
India
·
Unisafe
Fire Protection Specialist LLC
PO Box: 2079
D2 Industrial Area
Doha
Qatar
Tel: (974) 44696490
Activities: Engaged in the import, distribution,
installation and maintenance of fire extinguishing and safety
equipment.
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Subject’s products include: Fire detection & voice evacuation system |
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Smoke detection system emergency & exit lights |
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Standpipe & hose systems |
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Fire mains & hydrant system |
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Sprinkler systems |
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Water spray fixed systems |
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Deluge foam water sprinkler & foam water spray system low |
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Medium & high expansion foam system |
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Clean agent fire extinguishing systems (argonite & fm-200) |
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Carbon dioxide extinguishing systems |
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Dry and wet chemical extinguishing systems water |
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Mist fire extinguishing systems |
Import Countries: India, Denmark, United Kingdom, Malaysia
and the United
States of America.
International
Suppliers:
·
GLT Exports Ltd United Kingdom
·
Globe Sprikler Corporation United
States of America
·
Ginge-Kerr Denmark
·
PemAll Systems Inc United States of America
·
Eversafe Extinguisher SDN Malaysia
·
NIBCO Valves United States of America
· Potter Roemer United States of America
Operating Trend: Steady
Subject has a
workforce of 82 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 223,500,000 UAE Dh 225,225,000
Local sources
consider subject’s financial condition to be Good.
The above figures were
provided by Mr Ashraf Arappoil, Accountant
·
Mashreq
Bank Plc
Deira Branch
PO Box: 1250
Dubai
Tel: (971-4) 2229131 / 2221134
Fax: (971-4) 2233784
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.66.16 |
|
|
1 |
Rs.103.88 |
|
Euro |
1 |
Rs.75.89 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
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Report Prepared
by : |
NIT |
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 |
-- |
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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.