MIRA INFORM REPORT

Report No. :	485844
Report Date :	18.01.2018

IDENTIFICATION DETAILS

Name :	BETA INDUSTRIAL LLC
Registered Office :	Plot No. 565B Ras Al Khor Road Ras Al Khor Industrial Area, P.O. Box 50708 Dubai
Country :	United Arab emirates
Financials (as on) :	31.12.2017
Date of Incorporation :	21.05.1990
Com. Reg. No.:	52984
Legal Form :	Limited Liability Company - LLC
Line of Business :	Engaged in the import and distribution of electro mechanical products and the manufacture of air conditioning equipment and systems, including the following products: - Grilles and Registers - Ceiling, slot, circular air and swirl air diffusers - Louvers - Ventilation fixtures and accessories - Exhaust disc valves - Volume control dampers - Fire & smoke dampers Subject was ISO 9002:1994 accredited on 4th November 1999. Beta products have been installed in many prestigious projects such as the Dubai Airshow & Duty Free Complex, Marina Mall, Creak Tower, Internet City, American University, Metropolitan Hotel to name a few.
No. of Employees :	130

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

A

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

Status :	Good
Payment Behaviour :	No Complaints
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

Country Name	Previous Rating (30.06.2017)	Current Rating (30.09.2017)
United Arab emirates	A2	A2

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
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.

Source : CIA

IDENTIFICATION & CONTACT DETAILS
1) Name (s):
Organization Official Name	:	BETA INDUSTRIAL LLC
2) Registered Address:
Address	:	Plot No. 565B Ras Al Khor Road Ras Al Khor Industrial Area
Town	:	Dubai
Country	:	United Arab Emirates
PO Box	:	50708 & 1473
Phone (s)	:	(971-4) 7069770 / 7069777 / 7069745 / 3331486
Facsimile	:	(971-4) 7069787 / 3331673
Mobile	:	(971-50) 4582030
Email		betai@betag.com
3) Operational Address & Contact Details:
Address	:	Plot No. 565B Ras Al Khor Road Ras Al Khor Industrial Area
Town	:	Dubai
Country	:	United Arab Emirates
PO Box	:	50708 & 1473
Phone (s)	:	(971-4) 7069770 / 7069777 / 7069745 / 3331486
Facsimile	:	(971-4) 7069787 / 3331673
Mobile	:	(971-50) 4582030
Email		betai@betag.com
LEGAL FORM & INCORPORATION (REGISTRATION) DETAILS
Legal Form - Category	:	Limited Liability Company - LLC
Date of Registration	:	21st May 1990
Trade License Number	:	300482
Commercial Registration Number	:	52984, Dubai
Notes to the legal Form:
The LLC requires a minimum of two and a maximum of 50 members. The minimum share capital required is UAE Dh 300,000. Shareholders are only liable up to the extent of the value of their shares. This type of company may engage in any form of legitimate business, with the exception of insurance, banking and investment of funds. The company is not obliged to publish its accounts. The participation of non-Emirati in a trade or business in the United Arab Emirates is governed by the Foreign Business Investment Law, which sets capital requirements and requires 51 percent Emirati participation in capital and profits. It is common for the 51 percent to be held by the UAE national on paper only with the foreign partner(s) providing all the capital requirements for the company and paying an annual fee to the local partner.
OTHER REGISTRATION/ MEMBERSHIPS
Chamber Membership Number	:	19267
KEY FACTS
Operational Status	:	Steady
Financial Condition	:	Fair
Primary Business Activity	:	Distributors of electro mechanical products and the manufacture of air conditioning equipment and systems
Number of Employees	:	130
Capital	:	UAE Dh 300,000
Note:
Engaged in the import and distribution of electro mechanical products and the manufacture of air conditioning equipment and systems, including the following products: - Grilles and Registers - Ceiling, slot, circular air and swirl air diffusers - Louvers - Ventilation fixtures and accessories - Exhaust disc valves - Volume control dampers - Fire & smoke dampers Subject was ISO 9002:1994 accredited on 4th November 1999. Beta products have been installed in many prestigious projects such as the Dubai Airshow & Duty Free Complex, Marina Mall, Creak Tower, Internet City, American University, Metropolitan Hotel to name a few.
CAPITAL DETAILS
Issued Capital:
No of Shares		No of Shares	Amount
N/A		N/A	UAE Dh 300,000
Paid Up Capital:
No of Shares		No of Shares	Amount
N/A		N/A	UAE Dh 300,000
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 56,700,000	UAE Dh 58,000,000
Local sources consider subject’s financial condition to be Fair.
Note:
According to local Commercial Law, only publicly listed companies are required to publish their financial information. Financial information on other legal forms can only be obtained from the companies / businesses directly
BANKERS
1	Name	United Bank Ltd
	Address	Murshid Bazaar Branch
	PO Box	1000 Dubai
	Tel	(971-4) 2282025 / 2223191
BRANCH OFFICES
1	Address	25204 Abu Dhabi
	Tel	(971-2) 6675520
	Fax	(971-2) 6675521
	Description	Office premises
SHAREHOLDERS
Sr.No	Name	Nationality	Percentage
1	Khalid Juma Al Majid Quraiban	Emirati	51%
2	Mohamed Rashid Al Daour	Jordanian	49%
Total Shares			100%
SENIOR MANAGEMENT
Sr.No	Name	Nationality	Designation
1	Mohamed Rashid Al Daour	Jordanian	Managing Director
2	Khalid Juma Al Majid Quraiban	Emirati	Director
3	Bassam Nazzal	_	General Manager
4	Motasem Daour	_	Production Manager
5	Hamdi El Baz	_	Sales Manager
6	Irfan Ahmed	_	Export Manager
7	Ghassan Shaker	_	Finance Manager
8	Badawi Yousef Kamel	_	Branch Manager – Abu Dhabi
AFFILIATED COMPANIES
Subject is a member of the Beta Group of Companies, which comprises the following concerns: • Beta Information Technology (BIT) PO Box: 19085 Dubai Tel: (971-4) 2868789 Fax: (971-4) 2868443 • Dar Beta Information Technology PO Box: 19389 Riyadh 11435 Saudi Arabia Tel: (966-1) 2006066 Fax: (966-1) 2006400 • MM Al Daour Factory PO Box: 355671 Riyadh 11383 Saudi Arabia • Precision Industries PO Box: 37448 Dubai Tel: (971-4) 3384033 Fax: (971-4) 3383997
INTERNATIONAL TRADE ACTIVITY MARKETS
Sr.No	Country	Activity
1	Europe	Import
2	Australia	Import
3	Singapore	Import
4	United States of America	Import
International Suppliers:
Sr.No	Name	Country
1	Bystronic Laser AG	Switzerland
2	Beghelli	Italy
3	Prazisa	Germany
4	Clipsal	Australia
5	Wilson	Singapore
6	Vortice	Italy
International Suppliers:
Sr.No	Name	Country
1	Gulf Air Filters Factory Company (Gafco)	Saudi Arabia
BRNAD NAMES
Sr.No	Name
1	BETA
PREMISES
Subject operates from a large suite of offices and a factory that are rented and located in the Industrial Area of Dubai.
PAYMENT
No complaints regarding subject’s payments have been reported.
ADVERSE DATA
Performance Defaults	:	No record found
Payment Defaults	:	No record found
Adverse Press Coverage	:	No record found
Litigations	:	No record found
Former Business Relationships	:	No record found
INVESTIGATOR'S COMMENTS
During the course of this investigation the following sources were consulted: - Internal database - Journals, directories, media & web searches - Local Registry office Beta Industrial Co LLC was incorporated in 1990 and is engaged in the manufacture of air conditioning equipment and systems. It enjoys a good reputation for the quality of its products that have been installed in many prestigious projects. The company is run in a professional manner and is a member of the well known Beta Group of Companies, which has interests in a number of companies throughout the Emirate. 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	INR 63.98
UK Pound	1	INR 88.13
Euro	1	INR 78.35
UAE DH	1	INR 17.38

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	DIV
Report Prepared by :	KET

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
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

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.