MIRA INFORM REPORT

 

 

Report Date :

16.02.2011

 

IDENTIFICATION DETAILS

 

Name :

ABRAAJ CAPITAL LIMITED

 

 

Registered Office :

Level 3 & 4, The Gate Village Building 8, Dubai International Financial Centre P O Box 504905, Dubai

 

 

Country :

United Arab Emirates

 

 

Date of Incorporation :

19.03.2006

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Providers of investment, credit and fund administration services

 

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$ 3,000,000

 

 

Status :

Good

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – June 30, 2010

 

Country Name

Previous Rating

                   (01.04.2010)                  

Current Rating

(30.06.2010)

United Arab Emirates 

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

SUMMARY

 

Company Name                                     : ABRAAJ CAPITAL LIMITED

Country of Origin                                    : Dubai, United Arab Emirates

Legal Form                                            : Limited Liability Company

Registration Date                                   : 19th March 2006

Trade Licence Number                            : 0157

Issued Capital                                        : US$ 3,500,000

Paid up Capital                                      : US$ 3,500,000

Total Workforce                                     : 80

Activities                                               : Providers of investment, credit and fund administration services.

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

Recommended Credit Limit                     : US$ 3,000,000

 

COMPANY NAME

 

ABRAAJ CAPITAL LIMITED

 

 

company ADDRESS

 

Registered & Physical Address

Location            : Level 3 & 4, The Gate Village Building 8

Area                 : Dubai International Financial Centre

PO Box             : 504905

Town                 : Dubai

Country             : United Arab Emirates

Telephone         : (971-4) 5064400

Facsimile          : (971-4) 5064600

Email                : info@abraaj.com

 

Premises

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

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Sheikh Abdulrahman Ali Al Turki                                                         Chairman

 

·       Arif Masood Naqvi                                                                             Managing Director

 

·       Hussain J Al Nowais                                                                          Director

 

·       Fadi Ghandour                                                                                  Director

 

·       Hamad Abdulla Al Shamsi                                                                 Director

 

·       Hamid D Jafar                                                                                   Director

 

·       Mustafa Abdel Wadood                                                                      Director

 

·       Saud Abdulaziz Kanoo                                                                      Director

 

·       Saleh Romeih                                                                                   Director

 

·       Sean Cleary                                                                                      Director

 

·       Sheikh Khaled Bin Zayed Al Nehayan                                     Director

 

·       Sheikh Nawaf Nasser Bin Khalid Al Thani  Director

 

·       Sheikh Sultan Bin Saqr Al Qassimi  Director

 

·       Paul Judge Director

 

·       Tom Speechley                                                                                 Director

 

·       Waqar Hassan Siddique Director

 

·       Ashish Bhrugu Dave  Company Secretary

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 19th March 2006

 

Legal Form                  : Limited Liability Company

 

Trade Licence No.       : 0157 (Expires 18/03/2011)

 

Issued Capital              : US$ 3,500,000

 

Paid up Capital            : US$ 3,500,000

 

Name of Shareholder (s)

 

·       Abraaj Investment Management Limited

 

·       Sheikh Abdulrahman Ali Al Turki

 

·       Hussain Al Nowais

 

·       Al Jaber Group

 

·       Hamid Jafar

 

·       Saud Kanoo

 

·       Sheikh Khaled Bin Zayed Al Nehayan

 

·       Sheikh Sultan Bin Saqr Al Qassimi

 

·       Sheikh Nawaf Nasser Bin Khalid Al Thani

 

·       Fadi Ghandour

 

·       Deutsche Bank

 

·       DIFC Investments

 

·       Public Institution for Social Security

Kuwait

 

·       Al Qudra Holdings

 

·       Zabeel Investments

 

·       Qatar Pension Fund

Qatar

 

 

OPERATIONS

 

Activities: Engaged in the provision of investment, credit and fund administration services.

Abraaj Capital is the biggest private equity group in the Middle East, North Africa and South Asia (MENASA). Since inception, it has raised about US$ 7 billion and distributed almost US$ 3 billion to investors. The Abraaj Group operates seven offices in the region including in Istanbul, Cairo and Riyadh. It has made 36 investments in 11 countries and achieved more than 20 exits.

Abraaj Capital manages seven funds; four buyout funds; Riyada Enterprise Development fund, a fund dedicated to small and medium enterprises; ASAS, an income-generating, sale-and-leaseback fund; and a real estate fund. Funds under management at the end of 2009 were US$ 6.6 billion. Funds managed by Abraaj Group have holdings in about two dozen companies in the region including Air Arabia, the region’s biggest low-cost carrier; Acibadem Healthcare Group, Turkey’s largest privately owned hospital operator; and Al Borg Laboratories, the Middle East’s biggest privately owned medical-testing laboratory company.

     Abraaj Capital has won many regional and international awards, including five consecutive years as         ‘Middle Eastern Private Equity Firm of the Year’ from London-based Private Equity International.

Subject has a workforce of 80 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

 

·       National Bank of Dubai

Baniyas Street

     PO Box: 777

     Dubai

     Tel: (971-4) 2222241

 

 

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

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.50

UK Pound

1

Rs.73.07

Euro

1

Rs.61.63

 

 

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

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

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.