MIRA INFORM REPORT
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Report Date : |
19th May 2006 |
IDENTIFICATION DETAILS
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Name : |
A & P PARASKEVAIDES
& PARTNERS LLC |
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|
|
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Registered Office : |
Al Khan Street Industrial Area No. 7 5286, Sharjah United
Arab Emirates |
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Date of Incorporation : |
3rd
March 1975 |
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Com. Reg. No.: |
5202,
Sharjah |
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Legal Form : |
Limited
Liability Company - LLC |
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|
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Line of Business : |
General
contractors |
RATING & COMMENTS
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MIRA’s Rating : |
Aa |
RATING
|
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
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Maximum Credit Limit : |
US$ 500,000 |
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|
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
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Company Name |
A & P PARASKEVAIDES & PARTNERS LLC |
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Country of Origin |
Sharjah, United Arab Emirates |
|
Legal Form |
Limited Liability Company - LLC |
|
Registration Date |
3rd March 1975 |
|
Commercial Registration Number |
5202, Sharjah |
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Trade Licence Number |
11595 |
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Membership Number |
687 |
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Issued Capital |
UAE Dh 500,000 |
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Paid up Capital |
UAE Dh 500,000 |
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Total Workforce |
1,200 |
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Line of Business |
General contractors. |
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Financial Condition |
Undetermined |
|
Payments |
Nothing detrimental uncovered |
COMPANY NAME
A & P PARASKEVAIDES & PARTNERS LLC
ADDRESS
Registered & Physical Address
Street : Al Khan Street
Area : Industrial Area No. 7
PO Box : 5286
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 5314190
Facsimile : (971-6) 5314851
Email : anppp@emirates.net.ae
Premises
Subject operates from a large suite of offices that are owned and located in the Industrial Area of Sharjah.
Branch Office (s)
Location Description
PO Box : 10641 Office premises
Dubai
Tel : (971-4) 2718474
Fax : (971-4) 3344189
KEY PRINCIPALS
Ahmed Abdullah Mohamed Ghanim Al Hamili Managing Director
P Petrou General Manager
J Hiripis Finance Manager
LEGAL FORM & OWNERS
Date of Establishment : 3rd March 1975
Legal Form : Sharikat Thet Massouliya Mahdoudeh (Limited
Liability Company - LLC)
Commercial Reg. No. : 5202, Sharjah
Trade Licence No. : 11595 (Expires 29th October 2006)
Membership No. : 687
Issued Capital : UAE Dh 500,000
Paid up Capital : UAE Dh 500,000
Name of Shareholder (s)
A & P Paraskevaides Overseas Ltd
14 New Street
St. Peters Port
Guernsey
Channel Islands
United Kingdom
Tel : (44-1481) 723232
Fax : (44-1481) 710091
Note to the Legal Form
A Limited Liability Company (LLC) is defined in the Company Law as a company incorporated with not less than two and not more than fifty shareholders, each responsible only for the liabilities of the company to the extent of their share participation in the capital of the company.
The Company Law provides that the capital of a Limited Liability Company (LLC) should not be less than UAE Dh 150,000, which should be divided into equal shares of a value not less than UAE Dh 100 each.
This type of company may engage in any form of legitimate business, with the exception of insurance, banking and investment of funds.
Non UAE Participation
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.
Under this arrangement the above ownership may not reflect the actual profit distribution within the company, as the company may have internal management agreements in place that provides full management of the company in return for a share of the company’s assets and profits. This internal relationship may or may not be recognised by law depending on the way the internal agreement is made.
AFFILIATED COMPANIES
Joannou & Paraskevaides (Overseas) Ltd
44 Kifisias Avenue
Marousi GR-15125
Athens
Greece
Tel : (30-1) 6107270
Fax : (30-1) 6107280
Email : jnpest@otenet.gr
J & P (Hellas) SA
9 Frangoklisias Street
Marousi GR-15125
Athens
Greece
Tel : (30-1) 6185500 / 6104310
Fax : (30-1) 6104380
Email : info@jphellas.gr
J & P (Oman) LLC
PO Box : 603
Muscat 113
Oman
Tel : (968) 590200
Fax : (968) 590699
Joannou & Paraskevaides (Overseas) Ltd
Deira
PO Box : 4624
Dubai
United Arab Emirates
Tel : (971-4) 2212248
Fax : (971-4) 2284365
Joannou & Paraskevaides (Overseas) Ltd
PO Box : 2536
Abu Dhabi
United Arab Emirates
Tel : (971-2) 4492777 / 6221533
Fax : (971-2) 4992031 / 6221536
Joannou & Paraskevaides Qatar WLL
PO Box : 18637
Doha
Qatar
Tel : (974) 4675409
Fax : (974) 4675433
Email : jandpdoh@qatar.net.qa
Joannou & Paraskevaides (Overseas) Ltd
PO Box : 2055
Tripoli
Libya
Tel : (218-21) 3612137 / 3612138
Joannou & Paraskevaides (Overseas) Ltd
3 Al Malik Aladit Street
Shahibandar Square
PO Box : 8105
Damascus
Syria
Tel : (963-11) 4415030
Fax : (963-11) 4449703
Email : jnpdamascus@net.sy
Joannou & Paraskevaides (Overseas) Ltd
9 Shehab Street
Mohandessin, Giza
Cairo
Egypt
Tel : (20-2) 7485403 / 3384960
Fax : (20-2) 7499161
Dragados/J&P (Hellas) JV
PO Box : 19918
Addis Ababa
Ethiopia
Tel : (251-1) 338236 / 339333
Fax : (251-1) 339352
Email : dragados-zeus@telecom.net.et
Joannou & Paraskevaides (Overseas) Ltd
1 Byron Avenue
PO Box : 21178
CY-1503 Nicosia
Cyprus
Tel : (357-2) 868600
Fax : (357-2) 818868 / 676269
Email : jandp@spidernet.com.cy
Joannou & Paraskevaides (UK) Ltd
16 Hanover Square
London W1R OHB
United Kingdom
Tel : (44-207) 4936493
Fax : (44-207) 4930059
Email : London@jandp.org
Joannou & Paraskevaides (Overseas) Ltd
Dhabab Street
Shama Al Muraba Area
PO Box : 5881
Riyadh 11432
Saudi Arabia
Tel : (966-1) 4040002 / 4040003 / 4040004
Fax : (966-1) 4039575 / 4010123 / 4010001
LINE OF BUSINESS
Operations : Engaged as general contractors,
specialising in electrical, air conditioning and engineering contracting.
Import Countries : Europe and the United States of
America.
Operating Trend : Steady
Subject has a workforce of approximately 1,200 employees.
FINANCIAL HIGHLIGHTS
Companies registered in the United Arab Emirates are not legally required to make their accounts public and no financial information was released by the company or submitted by outside sources.
BANKERS
HSBC Bank Middle East
PO Box : 25
Sharjah
Tel : (971-6) 5537222
Fax : (971-6) 5537880
Standard Chartered Bank
Al Boorj Avenue
PO Box : 5
Sharjah
Tel : (971-6) 5357788
Fax : (971-6) 5543604
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 150,000:
Established in 1975, subject operates as general
contractors, specialising in electrical, air conditioning and engineering
contracting.
Local sources report that payment obligations are met in a generally timely manner and the operating history is clear. As such the company is deemed a fair trade risk and the above credit figure is considered to be within subject’s financial means.
Maximum suggested credit figure: US$ 500,000
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 |
Unfavourable &
favourable factors carry similar weight in credit consideration. Capability
to overcome financial difficulties seems comparatively below average/normal. |
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 |