MIRA INFORM REPORT

 

Report Date :           

17.02.2012

 

IDENTIFICATION DETAILS

 

Name :

AL JABER ALUMINIUM EXTRUSIONS LLC

 

 

Registered Office :

Golden Building, Mussafah Industrial Area, 6th Roundabout, P O Box 41073, Abu Dhabi

 

 

Country :

United Arab Emirates 

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

05.07.1994

 

 

Com. Reg. No.:

28038, Abu Dhabi

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Manufacturers of aluminium bars, profiles, powder paint and thermal insulation materials

 

 

No. of Employee:

575

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Maximum Credit Limit :

US$ 2,500,000

Status :

Good

Payment Behaviour :

Usually Correct

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 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

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

 

SUMMARY

 

Company Name                                     : AL JABER ALUMINIUM EXTRUSIONS LLC

Country of Origin                                    : Abu Dhabi, United Arab Emirates

Legal Form                                            : Limited Liability Company – LLC

Registration Date                                   : 5th July 1994

Commercial Registration Number                        : 28038, Abu Dhabi

Trade Licence Number                            : 45229

Chamber Membership Number                : 17695

Issued Capital                                        : UAE Dh 250,000

Paid up Capital                                      : UAE Dh 250,000

Total Workforce                                     : 575

Activities                                               : Manufacturers of aluminium bars, profiles, powder paint and thermal

                                                              insulation materials.

Financial Condition                                 : Good

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 2,500,000

Person Interviewed                                 : Christopher Francis, Financial Controller

 

COMPANY NAME

 

AL JABER ALUMINIUM EXTRUSIONS LLC

 

 

company ADDRESS

 

Registered & Physical Address

Building             : Golden Building

Location            : Mussafah Industrial Area, 6th Roundabout

PO Box             : 41073

Town                 : Abu Dhabi

Country             : United Arab Emirates

Telephone         : (971-2) 5553707 / 5554300

Facsimile          : (971-2) 5553977 / 5553370

Mobile               : (971-50) 7806428

Email                : ajesign@emirates.net.ae / fmz@aj-factories.com

 

Premises

Subject operates from a large suite of offices and a factory that are owned and located in the Industrial Area of Abu Dhabi.

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Obaid Khalifa Al Jaber                                                                       Managing Director

 

·       David A Abdo                                                                                    Director

 

·       Shadi Farahat                                                                                   Finance Manager

 

·       Christopher Francis                                                                           Financial Controller

 

·       Fawaz Zaini                                                                                      Commercial Manager

 

·       Surya Prakash Vijay                                                                          Operations Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 5th July 1994

 

Legal Form                  : Limited Liability Company – LLC

 

Commercial Reg. No.  : 28038, Abu Dhabi

 

Trade Licence No.       : 45229

 

Chamber Mem. No.      : 17695

 

Issued Capital              : UAE Dh 250,000

 

Paid up Capital            : UAE Dh 250,000

 

Name of Shareholder (s)                                          Percentage

 

·       Al Jaber Group                                                          99.60%

 

·       Al Jaber Holding PSC                                                  0.40%

 

 

AFFILIATED COMPANIES

 

Subject is a member of the Al Jaber Group of Companies, which comprises the following concerns:

 

·       Al Jaber Trading Establishment

Al Jaber Building

Mussafah Area

PO Box: 2175

Abu Dhabi

Tel: (971-2) 5555200

Fax: (971-2) 5553370

 

·       Al Jaber Shipping Agencies & Marine Works

Al Jaber Building

Mussafah Area

PO Box: 2175

Abu Dhabi

Tel: (971-2) 5555200

Fax: (971-2) 5553370

 

·       Veneto

Surur Bin Mohamed Building

Corniche Road

PO Box: 2175

Abu Dhabi

Tel: (971-2) 6364539

Fax: (971-2) 6654420

 

·       Al Jaber Signs Steel & Metal Works Est

PO Box: 2175

Abu Dhabi

Tel: (971-2) 5553707

Fax: (971-2) 5553977

 

·       Al Jaber Transport & General Contracting Est

PO Box: 2175

Abu Dhabi

Tel: (971-2) 5546550

Fax: (971-2) 5553370

 

·       Versus

PO Box: 2175

Abu Dhabi

Tel: (971-2) 6349223

 

 

OPERATIONS

 

Activities: Engaged in the manufacture of aluminium bars, profiles, powder paint and thermal insulation materials, as  well as windows, doors, curtain walls, thermal breaks, lighting, access devices, signage, furniture, decor, vehicle and machine bodies.

 

Subject is ISO 9001 and 14001 and HSAS180011 accredited.

 

Production Capacity: 40,000 tonnes per year

 

Import Countries: Europe and the Far East

 

Operating Trend: Steady

 

Subject has a workforce of approximately 575 employees.

 

 

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: United Arab Emirates Dirham (UAE Dh)

 

                                                Year Ending 31/12/09:                Year Ending 31/12/10:

 

Total Sales                                UAE Dh 213,500,000                  UAE Dh 218,000,000

 

Local sources consider subject’s financial condition to be Good.

 

The above figures were provided by Mr Christopher Francis, Financial Controller

 

 

BANKERS

 

·       National Bank of Ras Al Khaimah

Al Halami Centre

Hamdan Street

PO Box: 2289

Abu Dhabi

Tel: (971-2) 215577

Fax: (971-2) 328732

 

·       Citibank

Al Salam Street

PO Box: 999

Abu Dhabi

Tel: (971-2) 6742484

Fax: (971-2) 6744742

 

 

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.49.25

UK Pound

1

Rs.77.45

Euro

1

Rs.64.89

 

 

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.