MIRA INFORM REPORT

 

 

Report Date :

05.06.2012

 

IDENTIFICATION DETAILS

 

Name :

AL FARAA GENERAL CONTRACTING CO LLC

 

 

Registered Office :

Plot No. 6, Street No. 9, Mezyad Camp, P O Box 15915,  Al Ain

 

 

Country :

United Arab Emirates 

 

 

Date of Incorporation :

30.06.1980

 

 

Com. Reg. No.:

2465, Al Ain

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Civil engineering, procurement and construction (EPC) contractors

 

 

No. of Employees :

1,000

 

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                         : AL FARAA GENERAL CONTRACTING CO LLC

Country of Origin                                    : Al Ain, United Arab Emirates

Legal Form                                            : Limited Liability Company - LLC

Registration Date                                   : 30th June 1980

Commercial Registration Number            : 2465, Al Ain

Trade Licence Number                            : CN-1103648

Chamber Membership Number                : 2360

Issued Capital                                        : UAE Dh 1,000,000

Paid up Capital                                      : UAE Dh 1,000,000

Total Workforce                                     : 1,000

Activities                                               : Civil engineering, procurement and construction (EPC) contractors

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

 

 

 

COMPANY NAME

 

AL FARAA GENERAL CONTRACTING CO LLC

 

 

company ADDRESS

 

Registered & Physical Address

Location            : Plot No. 6, Street No. 9, Mezyad Camp

PO Box             : 15915

Town                 : Al Ain

Country             : United Arab Emirates

Telephone         : (971-3) 7825825 / 7654907

Facsimile          : (971-3) 7824434

Email                : ali_f@alfaraa.com

 

Premises

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

 

Branch Office (s)

 

     Location                                                                                          Description

 

·       Jebel Ali Area                                                                                   Rented office

Dubai

     Tel: (971-4) 8801099

 

·       PO Box: 4157                                                                                   Rented office

Abu Dhabi

Tel: (971-2) 6431333

Fax: (971-2) 6431666

 

·       Sharjah                                                                                            Rented office

 

 

KEY PRINCIPALS

 

     Name                                                          Nationality                   Position

·       Adel Saleh Mohamed Al Natour                      Jordanian                      Managing Director

·       Gangarmani Jawaharlal Rithumal                       Indian                         Director

·       Mohamed Butti Mohamed Ali Al Rumaithi           Emirati                       Director

·       Collin Timon                                                         -                            General Manager

·       James Anand                                                       -                            Accounts Manager

·       Prohit Brial                                                          -                            Purchasing Manager

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 30th June 1980

 

Legal Form                  : Limited Liability Company - LLC

 

Commercial Reg. No.  : 2465, Al Ain

 

Trade Licence No.       : CN-1103648 (Expires 31/05/2013)

 

Chamber Member No. : 2360

 

Issued Capital              : UAE Dh 1,000,000

 

Paid up Capital            : UAE Dh 1,000,000

 

Name of Shareholder (s)                                              Percentage

 

·       Mohamed Butti Mohamed Ali Al Rumaithi                          51%

 

·       Adel Saleh Mohamed Al Natour                                  ]

                                                                                    ]     49%

·       Gangarmani Jawaharlal Rithumal                                ]

 

 

AFFILIATED COMPANIES

 

·       Al Faraa Properties

 

·       Belgium Aluminium and Glass Est

 

·       Al Sabbah Electro-Mechanical (ASEM)

 

·       Unibeton Readymix

 

 

OPERATIONS

 

Activities: Engaged as civil engineering, procurement and construction (EPC) contractors.

 

Import Countries: India and Europe

 

Subject has a workforce of approximately 1,000 employees.

 

 

FINANCIAL DATA

 

Companies registered in Al Ain, 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

 

·       Mashreq Bank Psc

Ali Bin Taleb Street

Oud El Toba Ara

PO Box: 80800

Al Ain

Tel: (971-3) 7661178

Fax: (971-3) 7668896

 

 

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.55.52

UK Pound

1

Rs.85.29

Euro

1

Rs.68.86

 

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.