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Report No. : |
324674 |
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Report Date : |
01.06.2015 |
IDENTIFICATION DETAILS
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Name : |
ALPHA EMIRATES
LLC |
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Registered Office : |
Plot No. B12
Sheikh Zayed Road Al Quoz
Industrial Area No. 1 34776 Dubai |
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Country : |
United Arab
Emirates |
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Date of Incorporation : |
20.03.1985 |
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Legal Form : |
Limited Liability
Company – LLC |
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Line of Business : |
Engaged in the recycling
of plastics, including sorting, segregation, shredding and washing various
grades of plastic scrap and metal material. |
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No. of Employee : |
75 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
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 – 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 |
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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, 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 : ALPHA
EMIRATES LLC
Country of Origin : Dubai,
United Arab Emirates
Legal Form :
Limited Liability Company – LLC
Registration Date : 20th
March 1985
Trade Licence
Number : 128598
Chamber Membership
Number : 1514
Issued Capital : UAE Dh
1,000,000
Paid up Capital : UAE Dh
1,000,000
Total Workforce : 75
Activities :
Recycling of plastics and metals
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Mohamed Ismail, Financial Controller
ALPHA EMIRATES LLC
Location : Plot No. B12
Street : Sheikh Zayed Road
Area : Al Quoz Industrial Area No. 1
PO Box : 34776
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3383865
Facsimile : (971-4) 3384259
Mobile : (971-50) 6521844
Email : alphaem@emirates.net.ae / info@alphaemirates.net
Subject operates
from a medium sized suite of offices and a factory that are rented and located
in the Industrial Area of Dubai.
Name Nationality Position
·
Sheikh
Faisal Bin Khalid Sultan Al Qassimi Emirati Managing Director
·
Khalid Faisal Bin Khalid Sultam Al Qassimi Emirati Director
·
C N Rajev - General
Manager
·
Satish Kumar - Commercial
Manager
·
Mohamed Ismail - Financial
Controller
Date of Establishment : 20th
March 1985
History : Subject began in 1985 as a Sole Proprietorship,
however in 2014 it changed its legal form
and became a Limited Liability Company.
Legal Form :
Limited Liability Company –
LLC
Trade Licence No. : 128598
Chamber Member No. : 1514
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Name of
Shareholder (s) Percentage
·
Sheikh
Faisal Bin Khalid Sultan Al Qassimi 99%
·
Khalid Faisal Bin Khalid Sultam Al Qassimi 1%
Activities: Engaged in the recycling of plastics, including
sorting, segregation, shredding and washing various grades
of plastic scrap and metal material.
Production Capacity: 84,000 MT of paper waste and 6,000 MT of
plastic annually.
Local Suppliers:
·
Arabian Packaging Co Dubai
·
Jebel Pack Dubai
Export
Countries: India,
Mauritius, Madagascar, Sri Lanka and Australia.
Brand Names: RASHCO and DULSCO
Operating Trend: Steady
Subject has a
workforce of 75 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 66,850,000 UAE Dh 70,000,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Mohamed Ismail,
Financial Controller
·
Middle
East Bank Ltd
Arbift Tower
Baniyas Street
PO Box: 5547
Dubai
Tel: (971-4) 2220121
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.63.76 |
|
|
1 |
Rs.97.80 |
|
Euro |
1 |
Rs.69.91 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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|
|
|
Report Prepared
by : |
ANK |
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 |
|
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 |
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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.