MIRA INFORM
REPORT
|
Report Date : |
30.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
GULF ETERNIT INDUSTRIES CO LTD |
|
|
|
|
Registered Office : |
PO Box 1371, Dubai |
|
|
|
|
Country : |
United Arab Emirates |
|
|
|
|
Year of Establishment : |
1971 |
|
|
|
|
Legal Form : |
Private Independent |
|
|
|
|
Line of Business : |
Manufacture of
fiber cement, PVC, GRP, PE, GRE pipes and accessories; distribution of cast
iron, brass and PVC fittings |
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 |
|
Status : |
Satisfactory |
|
|
|
|
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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
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 |
Company
name & address
Gulf Eternit Industries Co Ltd
PO Box 1371
Dubai,
United Arab Emirates
Tel: 971 (4) 2101234
Fax: 971 (4) 2101299
Web: www.futurepipe.com
Synthesis
Employees: 1,240
Company Type: Private Independent
Incorporation Date: 1971
Auditor: Ernst and Young
Financials in: USD
(Millions)
Reporting Currency: US
Dollar
Annual Sales: 150.0
Total Assets: NA
Business Description
Manufacture of
fiber cement, PVC, GRP, PE, GRE pipes and accessories; distribution of cast
iron, brass and PVC fittings
Industry
Industry Construction - Supplies and
Fixtures
ANZSIC 2006: 2090 - Other
Non-Metallic Mineral Product Manufacturing
NACE 2002: 2682 - Manufacture
of other non-metallic mineral products not elsewhere classified
NAICS 2002: 327999 - All Other
Miscellaneous Nonmetallic Mineral Product Manufacturing
UK SIC 2003: 26821 -
Manufacture of asbestos
US SIC 1987: 3292 - Asbestos
Products
Key Executives
|
Name |
Title |
|
Rami Makhzoumi |
President & CEO |
|
Hafiz Ladha |
CFO |
|
Stephen Jones |
Marketing and Sales Manager |
|
Omar Ashur |
Executive Vice President |
|
Joseph Ghannoum |
Human Resources Director |
1 -
Profit & Loss Item Exchange Rate: USD 1 = USD 1
2 -
Balance Sheet Item Exchange Rate: USD 1 = USD 1
Corporate Overview
Location
PO Box 1371
Dubai, United Arab Emirates
Tel: 971 (4) 2101234
Fax: 971 (4) 2101299
Web: www.futurepipe.com
Sales USD(mil): 150.0
Assets USD(mil): NA
Employees: 1,240
Industry: Construction
- Supplies and Fixtures
Incorporation Date: 1971
Company Type: Private
Independent
Quoted Status: Not
Quoted
Assistant Vice
President: Mohammed
Makhzoumi
Contents
· Industry Codes
· Business Description
· Financial Data
· Subsidiaries
· Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
1912 - Rigid and Semi-Rigid Polymer Product Manufacturing
2090 - Other Non-Metallic Mineral Product Manufacturing
NACE 2002 Codes:
2682 - Manufacture of other non-metallic mineral products not
elsewhere classified
2521 - Manufacture of plastic plates, sheets, tubes and profiles
NAICS 2002 Codes:
326122 - Plastics Pipe and Pipe Fitting Manufacturing
327999 - All Other Miscellaneous Nonmetallic Mineral Product
Manufacturing
US SIC 1987:
3084 - Plastics Pipe
3292 - Asbestos Products
UK SIC 2003:
2521 - Manufacture of plastic plates, sheets, tubes and profiles
26821 - Manufacture of asbestos
Business
Description
Manufacture of fiber cement, PVC, GRP, PE, GRE pipes and accessories;
distribution of cast iron, brass and PVC fittings
More Business
Descriptions
Gulf Eternit Industries Company Ltd LLC (UAE) manufactures Fibrestrong
(GPR) pipes and fittings, Wavinstrong (GRE) pipes and fittings and
thermo-plastics pipes. Group company of the Future Pipe Group (Netherlands).
|
|||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||
|
|
|
|
||||||||||||||||||||||||
Executive report
Board of Directors
|
|
|
|||
|
Assistant Vice President |
Chairman |
Executive
|
|
|
|||
|
President & CEO |
Chief Executive Officer |
|||
|
Executive Vice President |
Administration Executive |
|||
|
CFO |
Finance Executive |
|||
|
Human Resources Director |
Human Resources Executive |
|||
|
Marketing and Sales Manager |
Sales Executive |
|||
|
Regional Vice President - Sales &
Marketing |
Sales Executive |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.16 |
|
UK Pound |
1 |
Rs.72.10 |
|
Euro |
1 |
Rs.63.10 |
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 |
|
---- |
NB |
New Business |
---- |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.