MIRA INFORM REPORT
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Report No. : |
311670 |
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Report Date : |
13.03.2015 |
IDENTIFICATION DETAILS
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Name : |
A M I FOUNDRY LLC |
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Registered Office : |
Jebel Ali Industrial
Area No. 2 283890 Dubai |
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Country : |
United Arab
Emirates |
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Date of Incorporation : |
25.05.2005 |
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Legal Form : |
Limited Liability
Company - LLC |
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Line of Business : |
Engaged in the design and manufacture of carbon steel alloys and
castings, specialising in products for the valve industry, earth moving
industry, engineering industry, mining & crushers industry |
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No. of Employee : |
90 |
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. 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 |
SUMMARY
Company Name : A M I
FOUNDRY LLC
Country of Origin : Dubai,
United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date : 25th
May 2005
Trade Licence
Number : 569580
Chamber Membership
Number : 99472
Issued Capital : UAE Dh
300,000
Paid up Capital : UAE Dh
300,000
Total Workforce : 90
Activities :
Design and manufacture of carbon steel alloys and castings
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed :
Shareef Ali, Public Relations Officer
COMPANY
NAME
A M I FOUNDRY LLC
ADDRESS
Registered & Physical
Address
Location : Jebel Ali Industrial Area No. 2
PO Box : 283890
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 8802233
Facsimile : (971-4) 8801388
Mobile : (971-50) 6546934
Email : amalloys@emirates.net.ae / sales@amifoundry.com
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the
Industrial Area of Dubai.
KEY
PRINCIPALS
Name Nationality Position
·
Zayed
Ahmed Baqer Emirati Managing
Director
·
Abdullah
Abdul Wahid Al Ali Emirati Director
·
R S
Benu - Financial
Manager
·
Rajesh
Chavali - Logistic
Manager
·
Shareef
Ali - Public
Relations Officer
LEGAL
FORM & OWNERS
Date of Establishment : 25th
May 2005
Legal Form :
Limited Liability Company -
LLC
Trade Licence No. : 569580 (Expires
24/05/2015)
Chamber Member No. : 99472
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of
Shareholder (s)
·
Zayed
Ahmed Baqer
·
Abdullah
Abdul Wahid Al Ali
·
ABEF
FZE
Jebel Ali
Dubai
OPERATIONS
Activities: Engaged
in the design and manufacture of carbon steel alloys and castings, specialising
in products for
the valve industry, earth moving industry,
engineering industry, mining & crushers industry
Subject is ISO 9001:2008 accredited.
Import
Countries: Europe and the
Far East
Production Capacity: 3,000 metric tons per annum
Subject has a
workforce of 90 employees.
FINANCIAL
DATA
Companies
registered in Dubai are not legally required to make their accounts public and
no financial information was released by the company or submitted by outside
sources.
BANKERS
·
Middle
East Bank Ltd
Arbift Tower
Baniyas Street
PO Box: 5547
Dubai
Tel: (971-4) 2220121
PAYMENT
HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL
COMMENTS
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.62.57 |
|
|
1 |
Rs.93.57 |
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Euro |
1 |
Rs.65.95 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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Report Prepared
by : |
ANK |
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.