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Report No. : |
326202 |
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Report Date : |
13.06.2015 |
IDENTIFICATION DETAILS
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Name : |
EBM PAPST MIDDLE
EAST FZE |
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Registered Office : |
Plot No. FZS1 AP05, Sheikh Zayed Road, Jebel Ali Free Zone, P O Box: 17755, Dubai |
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Country : |
United Arab Emirates |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
29.11.2005 |
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Com. Reg. No.: |
1274, Dubai |
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Legal Form : |
Free Zone Establishment - FZE |
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Line of Business : |
Import and
Distribution of Ventilation Products, Fans, Blowers, Motors and Related
Accessories. |
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No. of Employees : |
14 |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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, 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 : EBM PAPST
MIDDLE EAST FZE
Country of Origin : Dubai,
United Arab Emirates
Legal Form :
Free Zone Establishment - FZE
Registration Date : 29th
November 2005
Commercial
Registration Number : 1274,
Dubai
Trade Licence
Number : 6601
Chamber Membership
Number : 105949
Issued Capital : UAE Dh
1,000,000
Paid up Capital : UAE Dh
1,000,000
Total Workforce : 14
Activities :
Distributors of ventilation products, fans, blowers, motors and related
accessories
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
EBM PAPST MIDDLE
EAST FZE
Building : Plot No. FZS1 AP05
Street : Sheikh Zayed Road
Area : Jebel Ali Free Zone
PO Box : 17755
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 8860826
Facsimile : (971-4) 8860827
Mobile : (971-50) 2956433
Email : jochen.friess@ae.ebmpapst.com / info@ae.ebmpapst.com
Subject operates
from a small suite of offices that are rented and located in the Jebel Ali Free
Zone Area of Dubai.
Name Position
·
John
Fernandes Managing
Director
·
Eva
Maria Dorr General
Manager
·
Shahid
Mahmoud Operations
Manager
·
Marco
Durate Financial
Controller
·
Rashed
Mahmoud Logistics
Officer
Date of Establishment : 29th
November 2005
Legal Form :
Free Zone Establishment – FZE
Commercial
Reg. No. : 1274, Dubai
Trade Licence No. : 6601
(Expires 25/03/2016)
Chamber Member No. : 105949
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
·
EBM
Beteiligungs GmbH 100%
Bachmuhle 2
Mulfingen 74673
Germany
Activities: Engaged in the import and distribution of
ventilation products, fans, blowers, motors and related
accessories.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 14 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 11,700,000 UAE Dh 12,180,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Standard
Chartered Bank
Khalid Bin Waleed Street
PO Box: 999
Dubai
Tel: (971-4) 2520455
No complaints
regarding subject’s payments have been reported.
According to local
sources, subject enjoys a good reputation for the quality of its products with
nothing detrimental uncovered regarding the manner in which operations are
conducted. As such the company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.03 |
|
|
1 |
Rs.99.27 |
|
Euro |
1 |
Rs.71.90 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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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.