MIRA
INFORM REPORT
|
Report Date : |
15.09.2008 |
IDENTIFICATION
DETAILS
|
Name : |
GHANTOUT TRANSPORTING & GENERAL CONTRACTING
ESTABLISHMENT |
|
|
|
|
Registered Office : |
Ghadeer Bin Saeed Al Mansouri Building, Muroor Street, PO Box 27557, Abu Dhabi |
|
|
|
|
Country : |
United Arab Emirates |
|
|
|
|
Financials (as on) : |
31.12.2007 |
|
|
|
|
Date of Incorporation : |
05.06.1985 |
|
|
|
|
Com. Reg. No.: |
12117,
Abu Dhabi |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Providers of Transportation Services as well as General
Contractors |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
US$ 500,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name :
GHANTOUT TRANSPORTING &
GENERAL CONTRACTING
ESTABLISHMENT
Country of Origin : Abu Dhabi, United Arab Emirates
Legal Form : Sole Proprietorship
Registration Date : 5th June 1985
Commercial Registration Number : 12117, Abu Dhabi
Trade Licence Number : 17914
Chamber Membership Number : 9562
Invested Capital : UAE Dh 1,500,000
Total Workforce : 70
Activities : Providers of transportation services as well as general contractors.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 500,000
COMPANY NAME
GHANTOUT TRANSPORTING & GENERAL CONTRACTING
ESTABLISHMENT
ADDRESS
Registered & Physical Address
Building : Ghadeer Bin Saeed Al Mansouri
Building
Street : Muroor Street
PO Box : 27557
Town : Abu Dhabi
Country : United Arab Emirates
Telephone : (971-2) 6420909
Facsimile : (971-2) 6210787
/ 6427020
Email : ghantotr@emirates.net.ae
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Abu Dhabi.
KEY PRINCIPALS
·
Ali Mohamed
Sadeq Ghantout Proprietor
& General Manager
LEGAL FORM & OWNERS
Date of Establishment : 5th
June 1985
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 12117,
Abu Dhabi
Trade Licence No. : 17914
(Expires 08/04/2009)
Chamber Member No. : 9562
Invested Capital
: UAE Dh 1,500,000
Mr Ali Mohamed
Sadeq Ghantout is the sole proprietor of the business.
AFFILIATED COMPANIES
·
Ghantout Trading Establishment
Ghadeer Bin Saeed Al Mansouri
Building
Baniyas
Street
PO
Box 27557
Abu
Dhabi
Tel:
(971-2) 6210789
Fax:
(971-2) 6210787
CR
No. 16402
·
Ghantout
Livestock Establishment
PO Box : 27557
Abu Dhabi
Tel : (971-2) 6210789
Fax : (971-2) 6210787
CR No. 22376
OPERATIONS
Activities: Engaged in the provision of transportation
services as well as general contractors specialising in electro-mechanical
works, irrigation projects, road works, and landscaping works.
Import
Countries: Europe and the
United States of America
Operating Trend: Steady
Subject has a workforce
of 70 employees. Subject employs a larger workforce when required, depending on
projects.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency: United
Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/06: Year
Ending 31/12/07:
Total Sales UAE Dh
33,600,000 UAE Dh
37,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Abu
Dhabi Commercial Bank
Abu Dhabi Commercial Bank Building
Al Salam Street
PO Box : 939
Abu Dhabi
Tel : (971-2) 6962222 / 6962222
Fax : (971-2) 6776499 / 6776499
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
Date of
transaction December
2005
Credit amount 169,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency Pounds
Sterling
GENERAL COMMENTS
Ghantout Transporting & General Contracting Establishment
has been in business for over 23 years and has gained a good reputation for the
quality of its services.
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
business is considered to be a fair trade risk.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.46.63 |
|
UK Pound |
1 |
Rs.83.76 |
|
Euro |
1 |
Rs.66.49 |
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%)