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MIRA INFORM REPORT
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Report No. : |
486084 |
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Report Date : |
16.01.2018 |
IDENTIFICATION DETAILS
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Name : |
ALFA
LAVAL MIDDLE EAST LTD |
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Registered Office : |
Plot No. 518B, Building No. 13 Sheikh Zayed Road, Street No. 6 Al Quoz
Industrial Area PO Box 21467 Dubai |
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Country : |
United
Arab Emirates |
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Date of Incorporation : |
07.08.1994 |
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Com. Reg. No.: |
42967, Dubai |
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Legal Form : |
Branch of a Foreign Registered Corporation |
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Line of Business : |
Engaged in the import, distribution, repair and maintenance of comfort & refrigeration equipment, sanitary equipment, OEM equipment, marine & diesel equipment, food technology, energy & environment technology, process industry technology, biotech and pharmaceutical technology and desalinization technology. |
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No. of Employees : |
35 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
B |
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Credit Rating |
Explanation |
Rating Comments |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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Status : |
Branch of foreign registered corporation |
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Payment Behaviour : |
Unknown |
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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
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Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
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United Arab Emirates |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 from the oil and gas sector to 30%.
Since the discovery of oil in the UAE nearly 60 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 2008-09, 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 Government that was refinanced in March 2014.
The UAE’s dependence on oil is a significant long-term challenge. Low oil prices have prompted the UAE to cut expenditures, including on some social programs, but the UAE has sufficient assets in its sovereign investment funds to cover its deficits. The government reduced fuel subsidies in August 2015, and has announced plans to introduce excise and value-added taxes by January 1, 2018. The UAE's strategic plan for the next few years focuses on economic diversification, promoting the UAE as a global trade and tourism hub, developing industry, and creating more job opportunities for nationals through improved education and increased private sector employment.
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Source
: CIA |
company
name and SUMMARY
Company
Name :
ALFA LAVAL MIDDLE EAST LTD
Country
of Origin :
Cyprus
Legal
Form :
Branch of a Foreign Registered Corporation
Registration
Date : 7th
August 1994
Commercial
Registration Number : 42967,
Dubai
Trade
Licence Number :
235345
Chamber
Membership Number : 31581
Issued
Capital :
UAE Dh 10,000
Paid
up Capital :
UAE Dh 10,000
Total
Workforce :
35
Activities :
Distributors, repairers and maintainers of refrigeration, sanitary and marine
equipment
Financial
Condition :
Fair
Payments :
Unknown
Operating
Trend :
Steady
Company
name and address
COMPANY
NAME: ALFA
LAVAL MIDDLE EAST LTD
ADDRESS
Registered
& Physical Address
Location : Plot No. 518B, Building No. 13
Street : Sheikh Zayed Road, Street No. 6
Area : Al Quoz Industrial Area
PO
Box : 21467
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3471200 / 3720800
(Ext 923)
Facsimile : (971-4) 3471601
Mobile :
(971-50) 5589429
Email :
alme.marketing@alfalaval.com / ali.kariyil@alfalaval.com / georges.abboud@alfalaval.com
Premises
Subject
operates from a medium sized suite of offices and a warehouse that are rented and
located in the Industrial Area of Dubai.
KEY
PRINCIPALS
Name Position
Nicolas Newman General Manager
John
Batmanian Human
Resources Manager
Eugenia Luckuk Finance
Manager
Georges Abboud Assistant
Finance Manager
Ansho Jain Sales
Manager
Ali Kariyil Administration
Executive
LEGAL
FORM & OWNERS
Date
of Establishment : 7th August 1994
Legal
Form : Subject is the United Arab Emirates
registered branch of Alfa Laval Middle East Ltd, a Limited Liability Company
incorporated in Cyprus.
Under these circumstances, we strongly advise
that any international trade credit should
only be written under the name of the main
company where the subject holds its registered
office, in this case Cyprus.
Commercial
Reg. No. : 42967, Dubai
Trade
Licence No. : 235345
Chamber
Member No. : 31581
Issued
Capital : UAE Dh 10,000
Paid
up Capital : UAE Dh 10,000
AFFILIATED
COMPANIES
Alfa
Laval Al Gurg
Dubai
OPERATIONS
Activities: Engaged in the import, distribution,
repair and maintenance of comfort & refrigeration equipment, sanitary
equipment, OEM equipment, marine & diesel equipment, food technology,
energy & environment technology, process industry technology, biotech and
pharmaceutical technology and desalinization technology.
Import
Countries:
Europe and the United States of America
Operating
Trend:
Steady
Subject
has a workforce of 35 employees.
FINANCIAL
DATA
Financial
highlights provided by local sources are given below:
Currency:
United Arab Emirates Dirham (UAE Dh)
Year Ending 31/12/16: Year Ending 31/12/17:
Total
Sales UAE
Dh 13,100,000 UAE Dh
13,750,000
Local
sources consider subject’s financial condition to be Fair.
The
above financial figures are based on estimations by our local sources.
BANKERS
HSBC
Bank Middle East
Deira
Souk Branch
PO Box: 66
Dubai
Tel: (971-4) 2535000
PAYMENT
HISTORY
Unknown
GENERAL
COMMENTS
The
subject and its shareholders/owners have been searched in the following databases;
Office of Foreign Assets Control (OFAC), United Nations Security Council
Sanctions, Australian Sanctions List, US Consolidated Sanctions List, EU
Financial Sanctions List and UK Financial Sanctions List and nothing adverse
could be found on the exact names listed within the report.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.41 |
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1 |
INR 87.17 |
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Euro |
1 |
INR 77.44 |
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UAE DH |
1 |
INR 17.44 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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PRI |
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Report Prepared
by : |
DNS |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
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Company
background and operations size
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Promoters
/ Management background
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Payment
record
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Litigation
against the subject
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Industry
scenario / competitor analysis
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Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.