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Report No. : |
351417 |
|
Report Date : |
27.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
AL DOBOWI LLC |
|
|
|
|
Registered Office : |
Shed Nos, 209
& 210, Exit No 119, Sheikh Mohammed Bin Zayed Street, Al Jazeera Al
Hamra, P O Box: 35102, Ras Al Khaimah |
|
|
|
|
Country : |
United Arab Emirates |
|
|
|
|
Financials (as on) : |
31.03.2015 |
|
|
|
|
Date of Incorporation : |
22.08.2007 |
|
|
|
|
Legal Form : |
Limited Liability Company - LLC |
|
|
|
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Line of Business : |
Manufacture of
Industrial Battery Cells. |
|
|
|
|
No. of Employees : |
150 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
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|
|
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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) |
|
United Arab Emirates |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 : AL DOBOWI
LLC
Also Known As : ETERNITY
TECHNOLOGIES
Country of Origin : Ras Al
Khaimah, United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date : 22nd
August 2007
Trade Licence
Number : RAKIA
34IZ208070590
Issued Capital : UAE Dh
1,500,000
Paid up Capital : UAE Dh
1,500,000
Total Workforce : 150
Activities :
Manufacturers of industrial battery cells
Financial Condition : Good
Payments : Nothing
detrimental uncovered
Operating Trend : Steady
Person Interviewed : Johan Mathew, Finance Manager
AL DOBOWI LLC
ETERNITY TECHNOLOGIES
Location : Shed Nos, 209 & 210, Exit No
119, Sheikh Mohammed Bin Zayed Street, Al Jazeera Al Hamra
PO Box : 35102
Town : Ras Al Khaimah
Country : United Arab Emirates
Telephone : (971-7) 2433535
Facsimile : (971-7) 2433536
Mobile : (971-50) 6521332
Email : info@eternity-technologies.com
Subject operates
from a large suite of offices and a factory that are rented and located in the
Industrial Area of Ras Al Khaimah.
Name Position
·
Milind
Dashpande General
Manager
·
Richard
Conlom Commercial
Manager
·
Mahes
Kulur Accounts
Manager
·
Johan Mathew Finance
Manager
·
John Egerton Production
Manager
·
Stephen David Leys Operations
Manager
Date of Establishment : 22nd
August 2007
Legal Form :
Limited Liability Company -
LLC
Trade Licence No. : RAKIA
34IZ208070590
Issued Capital : UAE Dh 1,500,000
Paid up Capital : UAE Dh 1,500,000
·
RAKIA
Investment Authority 51%
Ras Al Khaimah
·
Kandvest
Partner Ltd 49%
British Virgin Islands
·
Al
Dobowi Group
Jebel Ali Free Zone
Dubai
Tel: (971-4) 8836661
·
Eternity
Technologies FZ LLC
Al Jazeera Al Hamra
PO Box: 35102
Ras Al Khaimah
Tel: (971-7) 2433535
Fax: (971-7) 2433536
Activities: Engaged in the manufacture of industrial
battery cells.
Import
Countries: France, Germany
and India
International Suppliers:
·
MSS India Ltd India
·
Darmic SAS France
·
Hadi GmbH Germany
·
Sun Metal LLC Sharjah
·
Garments Trim & Accessories Dubai
Operating Trend: Steady
Subject has a
workforce of approximately 150 employees.
Financial
highlights provided by local sources are given below:
Currency: United
Arab Emirates Dirham (UAE Dh)
Year
Ending 31/03/14: Year Ending
31/03/15:
Total Sales UAE Dh
191,420,268 UAE Dh
203,348,227
Local sources
consider subject’s financial condition to be Good.
The above figures
were provided by Mr Johan Mathew,
Finance Manager
·
National
Bank of Ras Al Khaimah
NBRAK Building
PO Box: 5300
Ras Al Khaimah
Tel: (971-7) 2221127
Fax: (971-7) 2224202
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.66.55 |
|
|
1 |
Rs.100.64 |
|
Euro |
1 |
Rs.70.70 |
INFORMATION DETAILS
|
Analysis Done by
: |
HEE |
|
|
|
|
Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
|
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 |
|
|
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.