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Report No. : |
311575 |
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Report Date : |
17.03.2015 |
IDENTIFICATION DETAILS
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Name : |
INTERNATIONAL CAP
LLC (CAPEX) |
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Registered Office : |
Techno Park, Plot No. TB0104, Sheikh Zayed Road, Jebel Ali, P O Box: 283265, 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 : |
30.04.2005 |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Manufacturers of
Metal Packaging, Caps and Seals. |
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No. of Employees : |
180 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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. 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 |
Company Name :
INTERNATIONAL CAP LLC (CAPEX)
Country of Origin : Dubai,
United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date : 30th April
2005
Trade Licence
Number : 604903
Chamber Membership
Number : 105907
Issued Capital : UAE Dh
300,000
Paid up Capital : UAE Dh
300,000
Total Workforce : 180
Activities :
Manufacturers of metal packaging, caps and seals.
Financial Condition : Good
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Philipe
Manapul, Financial Controller
INTERNATIONAL CAP
LLC (CAPEX)
Location : Techno Park, Plot No. TB0104
Street : Sheikh Zayed Road
Area : Jebel Ali
PO Box : 283265
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 8867066 / 8866099
Facsimile : (971-4) 8867055 / 8866088
Email : info@capex.ae
Subject operates
from a large suite of offices and a factory that are rented and located in the
Industrial Area of Dubai.
Name Nationality Position
·
Sulaiman
Bin Abdul Aziz Saleh Al Rajhi Saudi Managing
Director
·
Mostafa
Ahmed - General
Manager
·
Abdulwahab
Azazi - Marketing
Manager
·
Mohamed
Massoud - Finance
Manager
·
Philipe
Manapul - Financial
Controller
Date of Establishment : 30th April
2005
Legal Form :
Limited Liability Company -
LLC
Trade Licence No. : 604903
(Expires 31/03/2015)
Chamber Member No. : 105907
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
·
Al
Wataniya for Industrial Co 99%
Riyadh
Saudi Arabia
·
Sulaiman
Bin Abdul Aziz Saleh Al Rajhi 1%
Activities: Engaged in the manufacture of metal
packaging, caps and seals.
Import
Countries: Saudi Arabia,
Netherlands, Germany and Greece
International
Suppliers:
·
Cantec Germany
·
Grace Derex Greece
·
Amcor Netherlands
·
Akza Nobel Saudi Arabia
·
International Pack Saudi Arabia
Operating Trend: Steady
Subject has a
workforce of 180 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
104,000,000 UAE Dh
108,000,000
Local sources
consider subject’s financial condition to be Good.
The above financial
figures are based on estimations by our local sources.
·
Emirates
National Bank of Dubai
Baniyas Street
PO Box: 777
Dubai
Tel: (971-4) 2222241
No complaints
regarding subject’s payments have been reported.
Local sources
report that the subject’s operating history is clear with payment obligations
met in a generally timely manner. The financial position is satisfactory and
the company is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.82 |
|
|
1 |
Rs.92.83 |
|
Euro |
1 |
Rs.66.17 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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|
|
|
Report Prepared
by : |
NIT |
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 |
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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 |
-- |
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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.