MIRA
INFORM REPORT
|
Report Date : |
18.06.2008 |
IDENTIFICATION
DETAILS
|
Name : |
ACTCO GENERAL CONTRACTING CO LLC |
|
|
|
|
Registered Office : |
Hamad Mohamed Al
Huraiz Building, Al Garhoud Road, Al Garhoud, PO Box 4694, Dubai |
|
|
|
|
Country : |
United Arab Emirates |
|
|
|
|
Date of Incorporation : |
24.09.1978 |
|
|
|
|
Com. Reg. No.: |
40311, Dubai |
|
|
|
|
Legal Form : |
Limited Liability Company - LLC |
|
|
|
|
Line of Business : |
Building Contractors |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
US$ 1,500,000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name : ACTCO GENERAL CONTRACTING CO LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 24th September 1978
Commercial Registration Number : 40311, Dubai
Trade Licence Number : 217062
Chamber Membership Number : 4835
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Total Workforce : 3,300
Activities : Building contractors
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 1,500,000
COMPANY NAME
ACTCO GENERAL
CONTRACTING CO LLC
ADDRESS
Registered & Physical Address
Building : Hamad Mohamed Al Huraiz Building
Street : Al Garhoud Road
Area : Al Garhoud
PO Box : 4694
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2820404
Facsimile : (971-4) 2869145
Mobile : (971-50)
Email : actcouae@emirates.net.ae
Premises
Subject operates from
a large suite of offices that are rented and located in the Central Business
Area of Dubai.
Branch Office (s)
Location Description
·
PO Box 2361 Rented
Sales Office
Abu Dhabi
Tel: (971-2) 6812255
Fax: (971-2) 6815081
KEY PRINCIPALS
Name Nationality Position
·
Abdur Rahman
Hassan Hussain Khawaja Jordanian Managing Director
·
Raif
Khairallah Harik Lebanese Director
·
Jawad Ibrahim
Hassan Khawaja Jordanian Director
·
Abdul Aziz
Khalil Mohamed Samea Al Mutawa Emirati Director
LEGAL FORM & OWNERS
Date of Establishment : 24th
September 1978
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 40311, Dubai
Trade Licence No. : 217062
(Expires 27/04/2010)
Chamber Member No. : 4835
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Name of Shareholder (s) Percentage
·
Abdul Aziz
Khalil Mohamed Samea Al Mutawa 51%
·
Abdur Rahman
Hassan Hussain Khawaja 24%
·
Raif
Khairallah Harik 24%
·
Jawad Ibrahim Hassan
Khawaja 1%
AFFILIATED COMPANIES
·
Master
Electrical & Mechanical Works LLC
Dubai
United Arab Emirates
OPERATIONS
Activities: Building
contractors with activities over a wide spectrum of civil turn-key projects in
industrial
developments, infrastructure/ utilities, power plants,
desalination plants, oil and gas projects, industrial buildings, airport
facilities and commercial/residential buildings.
ACTCO is pre-qualified and registered
with the Ministry of Public Works, ADWEA, DEWA, SEWA, FEWA,
ADNOC. ZADCO, ADCO, ADMA-OPCO, ADGAS, GASCO, NPCC and many other leading
authorities and companies.
Subject has a
workforce of approximately 3,300 employees.
FINANCIAL DATA
Companies
registered in Dubai, 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
·
Commercial
Bank of Dubai
Baniyas Street
Deira
PO Box : 1709
Dubai
Tel : (971-4) 2227121 / 2253222
Fax : (971-4) 2220943 / 2254565
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Subject is a well
known company offer a range of building contracting services with a good
reputation in the local market.
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 and the above credit figure is
within subject’s financial means.
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. |
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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)