MIRA INFORM REPORT

 

 

Report Date :

07.08.2012

 

IDENTIFICATION DETAILS

 

Name :

TEKAB CO LTD

 

 

Registered Office :

Al Qassimi Road, Industrial Area No. 13, P O Box 40474, Sharjah

 

 

Country :

United Arab Emirates

 

 

Date of Incorporation :

15.07.1990

 

 

Com. Reg. No.:

20509, Sharjah

 

 

Legal Form :

Limited Liability Company

 

 

 

Line of Business :

Manufacturers of instrumentation, control and data cables, indoor power cables and building wires

 

 

No. of Employees :

200

 

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, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

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                                     : TEKAB CO LTD

Country of Origin                                    : Sharjah, United Arab Emirates

Legal Form                                            : Limited Liability Company

Registration Date                                   : 15th July 1990

Commercial Registration Number                        : 20509, Sharjah

Trade Licence Number                            : 3467

Chamber Membership Number                : 25611

Issued Capital                                        : UAE Dh 3,000,000

Paid up Capital                                      : UAE Dh 3,000,000

Total Workforce                                     : 200

Activities                                               : Manufacturers of instrumentation, control and data cables, indoor

power cables and building wires.

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

COMPANY NAME

 

TEKAB CO LTD

 

 

company ADDRESS

 

Registered & Physical Address

Street               : Al Qassimi Road

Area                 : Industrial Area No. 13

PO Box             : 40474

Town                 : Sharjah

Country             : United Arab Emirates

Telephone         : (971-6) 5352900 / 5385230 / 5387136

Facsimile          : (971-6) 5352260 / 5388740 / 5389256

Email                : tekab@emirates.net.ae / tekab@eim.ae

 

Premises

Subject operates from a large suite of offices and a factory that are rented and located in the Industrial Area of Sharjah.

 

 

KEY PRINCIPALS

 

     Name                                                                      Nationality                   Position

 

·       Ibrahim Asaad Tahan                                                 Palestinian                    Managing Director

·       Ahmed Sayed Murtada Sayed  Ali Hamza                   Kuwaiti                          Director

·       Shaji Thomas                                                                              -                             Commercial Manager

·       Michael Merri                                                                              -                             Sales Manager

·       Manoj Patel                                                                    -                             Finance Manager

·       Buganath Shiva                                                               -                             Production Manager

·       Sharaf Eldine                                                                              -                             Administration Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 15th July 1990

 

Legal Form                  : Limited Liability Company

 

Commercial Reg. No.  : 20509, Sharjah

 

Trade Licence No.       : 3467

 

Chamber Member No. : 25611

Issued Capital              : UAE Dh 3,000,000

 

Paid up Capital            : UAE Dh 3,000,000

 

Name of Shareholder (s)                                         Percentage

 

·       Gibca Co Ltd                                                                        51.0%

PO Box: 289

Sharjah

     Tel: (971-6) 5333333

     Fax: (971-6) 5333444

 

·       Ibrahim Asaad Tahan                                                 24.5%

 

·       Ahmed Sayed Murtada Sayed  Ali Hamza                   24.5%

 

 

AFFILIATED COMPANIES

 

Subject is a member of the Gibca Group of Companies, which has diversified activities covering manufacturing, contracting, trading & representation, retailing, property and investment.

 

The Gibca Group consists of the following concerns:

 

·       Alico Industries Co. Ltd

·       Arabian Profile Company Limited

·       Aluminium and Light Industries Co. Ltd

·       Commercial United Packaging Co. Ltd

·       Gibca Crusher and Quarry Operations Company Ltd

·       Glasshouse Co. Ltd

·       Glass Reinforced Composites

·       Gibca Mineral Industries LLC

·       Gulf Glass Industries Co. Ltd

·       Gibca Electro Mechanical Company Ltd

·       Continental Trading Co. LLC

·       EMA Lubricants Co. Ltd

·       Emirates Specialities Co. LLC

·       Gibca Air Conditioning

·       Grand Stores

·       Ajman Souk

·       Coral Beach Resort

·       Dhaid Souk

·       Gibca Furniture Industries Co LLC

 

 

OPERATIONS

 

Activities: Engaged in the manufacture of instrumentation, control and data cables, indoor power cables and building wires.

 

Import Countries: Europe and GCC countries.

 

Subject has a workforce of approximately 200 employees.

 

 

FINANCIAL DATA

 

Companies registered in Sharjah, 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

 

·       United Arab Bank

PO Box: 25022

Sharjah

Tel: (971-6) 5733900

Fax: (971-6) 5733907

 

 

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.55.47

UK Pound

1

Rs.86.60

Euro

1

Rs.68.66

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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%)

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.