MIRA INFORM REPORT

 

 

Report Date :

4th May 2006

 

IDENTIFICATION DETAILS

 

Name :

GEMINI BUILDING MATERIALS TRADING

 

 

Registered Office :

Hidaya Building, Al Salam Street, P. O. Box 71295, Abu Dhabi, United Arab Emirates

 

 

Date of Incorporation :

31.10.1995

 

 

Com. Reg. No.:

31041

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Import and distribution of decoration materials, false ceiling products and related accessories.

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

US$ 120000

 

 

Status :

Fair

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

 

 

 

 

 

 

 

SUMMARY

 

Company Name                                 : GEMINI BUILDING MATERIALS

                                                            TRADING

Country of Origin                              : Abu Dhabi, United Arab Emirates

Legal Form                                        : Sole Proprietorship

Registration Date                              : 31st October 1995

Commercial Registration Number     : 31041, Abu Dhabi

Trade Licence Number                      : 47544

Membership Number                        : 70307

Invested Capital                                : UAE Dh 1,500,000

Total Workforce                                 : 20

Line of Business                               : Distributors of decoration materials;

  general decoration contractors.

Financial Condition                          : Fair

Payments                                          : Nothing detrimental uncovered

Operating Trend                                : Steady

 

 

 

COMPANY NAME

 

GEMINI BUILDING MATERIALS TRADING

 

 

ADDRESS

 

Registered & Physical Address

 

Building      : Hidaya Building

Street                   : Al Salam Street

 

PO Box        : 71295

 

Town           : Abu Dhabi

Country      : United Arab Emirates

 

Telephone   : (971-2) 6743606

Facsimile    : (971-2) 6728646

 

 

Premises

 

Subject operates from a medium sized suite of offices and a warehouse that are rented and located in the Central Business Area of Abu Dhabi.

 

 

Branch Office (s)

 

    Location                                                            Description

 

·      Al Wahadah                                                      Rented office & warehouse

Al Ain

Tel : (971-3) 7218803

 

 

KEY PRINCIPALS

 

Name                                             Nationality  Position

 

·        K. P. Ganesh Babu                       Indian         Proprietor & General Manager

 

·        Mohamed Al Redwani Shafi                   Emirati        Local Sponsor

 

·        Manoj Kumar                               Indian         Assistant General Manager

 

 

 

 

 

LEGAL FORM & OWNERS

 

Date of Establishment

31st October 1995

 

 

Legal Form

Mouassasa Khassa (Sole Proprietorship)

 

 

Commercial Reg. No.

31041, Abu Dhabi

 

 

Trade Licence No.

47544 (Valid until 02/05/2006)

 

 

Membership No.

70307

 

 

Invested Capital

UAE Dh 1,500,000

 

Mr K. P. Ganesh Babu is the sole proprietor of the business. He is an Indian national who operates in Abu Dhabi under the local sponsorship of Mr Mohamed Al Redwani Shafi.

 

Note to the Legal Form        

 

Commonly referred to as an establishment, the Company Law defines Mouassasa Khassa as the business of an individual where liability for all debts is unlimited. The business is the entire responsibility of its proprietor, who is liable for all its debts to the extent of his entire wealth. There are no legal requirements concerning the amount of capital of a sole proprietor.

 

 

LINE OF BUSINESS

 

Operations

 

Engaged in the import and distribution of decoration materials, false ceiling products and related accessories.

 

Subject also acts as general decoration contractors and suppliers of maintenance services for turnkey projects.

 

Import Countries

 

Taiwan, Denmark and the United Kingdom.

 

International Suppliers

 

·      Premdor                               United Kingdom

·      Taiwan Great Wood              Taiwan

·      Dano Gypes                         Denmark

 

Operating Trend

 

Steady

 

Subject has a workforce of 20 employees.

 

 

FINANCIAL HIGHLIGHTS

 

Financial highlights provided by outside sources are given below :

 

Currency : United Arab Emirates Dirham (UAE Dh)

 

                             Year Ending 31/12/03:         Year Ending 31/12/04:

 

Total Revenue       UAE Dh 8,800,000                  UAE Dh 9,200,000

 

Local sources consider subject’s financial condition to be Fair.

 

 

BANKERS

 

·      National Bank of Abu Dhabi

Sheikh Khalifa Street

PO Box : 4

Abu Dhabi

Tel : (971-2) 345777 / 327113 / 335262

Fax : (971-2) 336078

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

Date of transaction                            May 2001

Credit amount                                   30,000

Amount overdue                                0

Payment terms                                  30 days

Payment Method                               Letters of Credit

Paying record                                    No Complaints

Currency                                           Deutsch Marks

 

 

GENERAL COMMENTS

 

Established in 1995, subject is involved in the import and distribution of decoration materials, as well as acting as general decoration contractors.

 

According to local sources subject’s finances are in a satisfactory condition and payment obligations are fulfilled in a regular and timely manner. As such the business is deemed a fair trade risk.

 

Maximum suggested credit figure: US$ 120,000