MIRA
INFORM REPORT
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Report Date : |
30.12.2008 |
IDENTIFICATION DETAILS
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Name : |
AL GEEMI AND PARTNERS CONTRACTING CO LLC |
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Registered Office : |
Al |
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Country : |
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Date of Incorporation : |
27.01.1980 |
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Com. Reg. No.: |
14471, |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
General Contractors |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Maximum Credit Limit : |
US$ 1,500,000 |
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Status : |
Good |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : AL GEEMI AND PARTNERS CONTRACTING CO LLC
Country of Origin :
Legal Form : Limited Liability Company - LLC
Registration Date : 27th January 1980
Commercial Registration Number : 14471,
Trade Licence Number : 1036597
Chamber Membership Number : 5070
Issued Capital : UAE Dh 20,000,000
Paid up Capital : UAE Dh 20,000,000
Total Workforce : 5,000
Activities : General contractors
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 1,500,000
COMPANY NAME
AL GEEMI AND
PARTNERS CONTRACTING CO LLC
ADDRESS
Registered & Physical Address
Building : Al
Street :
PO Box : 2877
Town :
Country :
Telephone : (971-2) 6328438 / 6335682
Facsimile : (971-2) 6338135
Email : algeemip@emirates.net.ae
Premises
Subject operates
from a large suite of offices that are rented and located in the Central
Business Area of Abu Dhabi.
KEY PRINCIPALS
Name Position
·
Monther Rashad Samaan Farah Managing
Director
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Rami Al Toursi Operations
Manager
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K. V. Stephan Finance
Manager
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Issa Fareed Technical
Manager
LEGAL FORM & OWNERS
Date of Establishment : 27th
January 1980
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 14471,
Trade Licence No. : 1036597
(Expires 14/04/2009)
Chamber Member No. : 5070
Issued Capital : UAE Dh 20,000,000
Paid up Capital :
UAE Dh 20,000,000
Name of Shareholder (s) Percentage
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Al Geemi Transporting & Contracting Co LLC 60%
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Monther Rashad Samaan Farah Co 40%
OPERATIONS
Activities: General contractors specialising in the
following areas: roads, building, energy, electro mechanical and marine works.
Import
Countries: Asia, Europe and
the
Subject has a
workforce of approximately 5,000 employees.
FINANCIAL DATA
Companies
registered in
BANKERS
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Abu Dhabi Commercial Bank
PO Box : 939
Tel : (971-2) 6962222 / 6962222
Fax : (971-2) 6776499 / 6776499
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Arab
Bank Plc
Tel: (971-2) 6334111
Fax: (971-2) 6336433
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
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 |
Rs.48.50 |
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1 |
Rs.70.02 |
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Euro |
1 |
Rs.67.95 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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 and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)