MIRA
INFORM REPORT
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Report Date : |
14.10.2011 |
IDENTIFICATION DETAILS
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Name : |
GULF METAL FOUNDRY LLC |
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Registered Office : |
Plot No. 447B Sheikh Zayed Road Al Quoz Industrial Area PO Box 325
Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
30.08.1993 |
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Com. Reg. No.: |
40724, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Manufacturers of steel, steel alloys, stainless steel and heat resistant steel castings. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
US$ 200,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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UAE |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
SUMMARY
Company Name : GULF METAL FOUNDRY LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 30th August 1993
Commercial Registration Number : 40724, Dubai
Trade Licence Number : 300723
Chamber Membership Number : 27956
Issued Capital : UAE Dh 6,000,000
Paid up Capital : UAE Dh 6,000,000
Total Workforce : 150
Activities : Manufacturers of steel, steel alloys, stainless steel and heat resistant steel castings.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 200,000
COMPANY NAME
GULF METAL FOUNDRY LLC
ADDRESS
Registered & Physical Address
Location : Plot No. 447B
Street : Sheikh Zayed
Road
Area : Al Quoz
Industrial Area
PO Box : 325
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 3470561
/ 3470581
Facsimile : (971-4)
3470354 / 3470854
Email : foundry@emirates.net.ae
/ mail@foundry.ae
Premises
Subject operates from a large suite of offices factory that are rented
and located in the Industrial Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
· Maryam Easa Saleh
Al Gurg Emirati Managing
Director
· Mona Easa Saleh Al
Gurg Emirati Director
· Raja Easa Saleh Al
Gurg Emirati Director
· Hamed Saleh Easa
Saleh Al Gurg Emirati Director
· Dana Saleh Easa
Saleh Al Gurg Emirati Director
· Reem Saleh Easa
Saleh Al Gurg Emirati Director
LEGAL FORM & OWNERS
Date of
Establishment : 30th
August 1993
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 40724, Dubai
Trade Licence No. : 300723 (Expires 09/04/2012)
Chamber Member No. : 27956
Issued Capital : UAE Dh 6,000,000
Paid up Capital : UAE Dh 6,000,000
Name of Shareholder (s) Percentage
· Easa Saleh Al Gurg
Group LLC 99.9%
PO Box: 325
Dubai
Tel: (971-4)
2279666
Fax: (971-4)
2278620
· Easa Saleh Al Gurg
LLC 0.1%
PO Box: 325
Dubai
Tel: (971-4)
2258900
Fax: (971-4)
3522518
AFFILIATED COMPANIES
Subject is a member of the Easa Saleh Al Gurg Group
which consists of the following concerns:
· Al Gurg Stationery
Oud Metha Road
Dubai
Tel: (971-4)
3348708
Fax: (971-4)
3351894
· Interiors
Umm
Hurair Road
PO Box:
325
Dubai
Tel:
(971-4) 3370116
Fax: (971-4)
3367657
Email: intrs@emirates.net.ae
· Al Gurg Building
Services Ltd Co LLC
Al Ramool Area
Rashidiya
Dubai
Tel: (971-4)
2857770
Fax: (971-4)
2858713
· Al Gurg
Communications
Khalid Bin Walid
Street
Dubai
Tel: (971-4)
3512173
Fax: (971-4)
3512121
· Al Mashrabia
Furniture Industry
Al Awir Industrial
Area
PO Box: 325
Dubai
Tel: (971-4)
3330883 / 3338379
Fax: (971-4)
3522518
· Al Gurg Fosroc Co
LLC
Umm
Ramool, Plot No. 202
PO Box:
657
Dubai
Tel: (971-4)
2858606 / 2858787
Fax:
(971-4) 2859649 / 2852023
Email: agfdxb@emirates.net.ae
OPERATIONS
Activities: Engaged in the manufacture of steel, steel alloys, stainless steel and heat resistant steel castings for the petrochemical and engineering industries. Subject specialises in the manufacture of valve component castings, gate valves, check valves, globe valves, ball valves, butterfly valves, pressure seal valves, well head equipment and other applications in the pressure range of 150 PSI to 10,000 PSI. Subject also manufactures castings for wear resistant applications in high chromium iron and manganese steel for use in cement plants, quarries and crushers.
Import Countries: Europe and the Far East.
Subject has a workforce of 150 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
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.49.02 |
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|
1 |
Rs.77.13 |
|
Euro |
1 |
Rs.67.55 |
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 |
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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-- |
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.