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Report Date : |
02.04.2013 |
IDENTIFICATION DETAILS
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Name : |
GHANTOOT TRANSPORTING & GENERAL CONTRACTING ESTABLISHMENT |
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|
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Registered Office : |
Ghadeer Bin Saeed Al Mansouri Building, Muroor Street, PO Box 27557
& 129170, Abu Dhabi |
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Country : |
United Arab Emirates |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
06.05.1985 |
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Com. Reg. No.: |
12117 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Providers of transportation services as well as general contractors. |
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No. of Employees : |
70 |
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 |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
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 |
United Arab Emirates - ECONOMIC OVERVIEW
The UAE has an open economy with a high per capita income and a sizable annual trade surplus. Successful efforts at economic diversification have reduced the portion of GDP based on oil and gas output to 25%. Since the discovery of oil in the UAE more than 30 years ago, the UAE has undergone a profound transformation from an impoverished region of small desert principalities to a modern state with a high standard of living. The government has increased spending on job creation and infrastructure expansion and is opening up utilities to greater private sector involvement. In April 2004, the UAE signed a Trade and Investment Framework Agreement with Washington and in November 2004 agreed to undertake negotiations toward a Free Trade Agreement with the US, however, those talks have not moved forward. The country's Free Trade Zones - offering 100% foreign ownership and zero taxes - are helping to attract foreign investors. The global financial crisis, tight international credit, and deflated asset prices constricted the economy in 2009. UAE authorities tried to blunt the crisis by increasing spending and boosting liquidity in the banking sector. The crisis hit Dubai hardest, as it was heavily exposed to depressed real estate prices. Dubai lacked sufficient cash to meet its debt obligations, prompting global concern about its solvency. The UAE Central Bank and Abu Dhabi-based banks bought the largest shares. In December 2009 Dubai received an additional $10 billion loan from the emirate of Abu Dhabi. The economy is expected to continue a slow rebound. Dependence on oil, a large expatriate workforce, and growing inflation pressures are significant long-term challenges. The UAE''s strategic plan for the next few years focuses on diversification and creating more opportunities for nationals through improved education and increased private sector employment.
|
Source : CIA |
Company Name :
GHANTOOT TRANSPORTING & GENERAL CONTRACTING
ESTABLISHMENT
Country of Origin :
Abu Dhabi, United Arab Emirates
Legal Form :
Sole Proprietorship
Registration Date :
6th May 1985
Commercial Registration Number :
12117, Abu Dhabi
Trade Licence Number :
1018437
Chamber Membership Number :
9562
Invested Capital :
UAE Dh 1,500,000
Total Workforce :
70
Activities :
Providers of transportation services as well as general contractors.
Financial Condition :
Fair
Payments : Nothing
detrimental uncovered
Operating Trend :
Steady
GHANTOOT TRANSPORTING & GENERAL CONTRACTING ESTABLISHMENT
Registered &
Physical Address
Building : Ghadeer Bin
Saeed Al Mansouri Building
Street : Muroor
Street
PO Box : 27557 &
129170
Town : Abu Dhabi
Country : United Arab
Emirates
Telephone : (971-2) 6420909
/ 6413388
Facsimile : (971-2)
6210787 / 6427020
Email : ghantotr@emirates.net.ae
/ rehab@ghantootgroup.com
/ info@ghantootgroup.ae
Premises
Subject operates from a medium sized suite of offices that are rented
and located in the Central Business Area of Abu Dhabi.
Branch Offices
Location Description
Mussafah Area Office
premises
Abu Dhabi
Tel: (971-2) 5645221 / 5503729
Ali Mohamed Sadeq Ghantoot Proprietor
& General Manager
Mohamed Al Baloushi Assistant
General Manager
Mohamed Hafiz Finance
Manager
Khalid Ghadban Procurement
Manager
Date of Establishment : 6th May
1985
Legal Form : Sole
Proprietorship
Commercial Reg. No. : 12117, Abu Dhabi
Trade Licence No. : 1018437 (Expires
19/03/2014)
Chamber Member No. : 9562
Invested Capital : UAE Dh 1,500,000
Mr Ali Mohamed Sadeq Ghantoot is the sole proprietor of the business.
Ghantoot Trading Establishment
Ghadeer Bin Saeed Al Mansouri Building
Baniyas Street
PO Box: 27557
Abu Dhabi
Tel: (971-2) 6210789
Fax: (971-2) 6210787
CR No. 16402
Ghantoot Livestock Establishment
PO Box: 27557
Abu Dhabi
Tel: (971-2) 6210789
Fax: (971-2) 6210787
CR No. 22376
GGG Land Transport LLC
GTGC Dubai Operations
Utico
William Hare UAE
Ghantoot Landscaping
Ghantoot Gulf Contracting
Pact General Contracting
Ghantoot Gulf Crusher
Liwa Petroleum ME
Abu Dhabi National Cement Factory
Emirates Shooting Equipment Co
Mercury Travel & Tour
Reem Al Khaleej Rent A Car
United Water Limited
Activities: Engaged in the provision of transportation services as well as general
contractors specialising in electro-mechanical works, irrigation projects, road
works, and landscaping works.
Subject’s services include:
Roads Construction & Maintenance
Bridges Development
Highway Construction, Structuring and
Reconstruction
Infrastructure Development
Import Countries: Europe and the United States of America
Operating Trend: Steady
Subject has a workforce of 70 employees. Subject employs a larger
workforce when required, depending on projects.
Financial highlights provided by local sources are given below:
Currency: United Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/11: Year Ending
31/12/12:
Total Sales UAE
Dh 29,000,000 UAE Dh 31,000,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
Abu Dhabi Commercial Bank
Abu Dhabi Commercial Bank Building
Al Salam Street
PO Box: 939
Abu Dhabi
Tel: (971-2) 6962222 / 6962222
Fax: (971-2) 6776499 / 6776499
No complaints regarding subject’s payments have been reported.
Date of transaction December
2005
Credit amount 169,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency Pounds
Sterling
Ghantoot Transporting & General Contracting Establishment has been in
business for over 28 years and has gained a good reputation for the quality of
its services.
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 business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.39 |
|
|
1 |
Rs.82.32 |
|
Euro |
1 |
Rs.69.54 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.