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MIRA INFORM REPORT
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Report No. : |
487852 |
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Report Date : |
31.01.2018 |
IDENTIFICATION DETAILS
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Name : |
DAYAL METAL CONTAINERS FACTORY LLC |
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Registered Office : |
New Industrial Area 6016 Ajman |
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Country : |
United
Arab Emirates |
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Date of Incorporation : |
03.06.1999 |
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Com. Reg. No.: |
17699, Ajman |
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Legal Form : |
Limited
Liability Company - LLC |
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Line of Business : |
Subject is engaged in the
manufacture of 1 and 5 litre containers for lubricants and greases and
containers for milk juice powder. |
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No. of Employees : |
80 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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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
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Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
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United Arab Emirates |
A2 |
A2 |
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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 |
SUMMARY
Company
Name :
DAYAL METAL CONTAINERS FACTORY LLC
Country
of Origin :
Ajman, United Arab Emirates
Legal
Form :
Limited Liability Company - LLC
Registration
Date : 3rd
July 1999
Commercial
Registration Number : 17699,
Ajman
Trade
Licence Number :
2690
Issued
Capital :
UAE Dh 500,000
Paid
up Capital :
UAE Dh 500,000
Total
Workforce :
80
Activities :
Manufacture of 1 and 5 litre containers for lubricants and greases and
containers for milk and juice powder
Financial
Condition :
Fair
Payments :
No Complaints
Operating
Trend :
Steady
Company
name and address
COMPANY
NAME:
DAYAL METAL CONTAINERS FACTORY LLC
ADDRESS
Registered
& Physical Address
Location : New Industrial Area
PO
Box : 6016
Town : Ajman
Country : United Arab Emirates
Telephone : (971-6) 7430611 / 7430644
Facsimile : (971-6) 7480911
Email : dayalmc@emirates.net.ae
/ dayalmc@gmail.com
/ info@dayalmc.com
Premises
Subject
operates from a medium sized suite of offices and a factory that are rented and
located in the Industrial Area of Ajman.
KEY
PRINCIPALS
Name Nationality Position
Sanjay
Kishan Alisinghani Indian Managing
Director
Harish
Kishan Alisinghani Indian Director
Kunal
Dayal Indian Director
Sheikh Abdul Nazeer
Humaid Al Nuaimi Emirati Director
Naga
Kumar - Finance
Manager
Altaf Sheikh - Commercial
Manager
LEGAL
FORM & OWNERS
Date
of Establishment : 3rd July 1999
Legal
Form : Limited Liability Company - LLC
Commercial
Reg. No. : 17699, Ajman
Trade
Licence No. : 2690
Issued
Capital : UAE Dh 500,000
Paid
up Capital : UAE Dh 500,000
Name
of Shareholder (s) Percentage
Sheikh
Abdul Nazeer Humaid Al Nuaimi 51%
Sanjay
Kishan Alisinghani 17%
Harish
Kishan Alisinghani 16%
Kunal
Dayal 16%
OPERATIONS
Activities: Engaged in the manufacture
of 1 and 5 litre containers for lubricants and greases and containers for milk
and juice powder.
Import
Countries:
Japan, Europe, Taiwan China and India
International Suppliers:
Nippon Metal Japan
The Tin Plate India Ltd India
J S W Vallabha India
Operating
Trend:
Steady
Subject
has a workforce of 80 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 35,280,000 UAE Dh
35,800,000
Local
sources consider subject’s financial condition to be Fair.
The
above financial figures are based on estimations by our local sources.
BANKERS
Dubai
Islamic Bank
PO
Box: 915
Ajman
Tel: (971-6) 7466555
Fax: (971-6) 7466626
PAYMENT
HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL
COMMENTS
Please
note that the correct name of the subject is “Dayal Metal Containers Factory
LLC” and not “Daya Metal Containers
Factory LLC”.
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 63.75 |
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1 |
INR 89.38 |
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Euro |
1 |
INR 78.75 |
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UAE Dh |
1 |
INR |
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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NIS |
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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
·
Company
background and operations size
·
Promoters
/ Management background
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Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
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.