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Report Date : |
20.02.2013 |
IDENTIFICATION DETAILS
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Name : |
TRANS GULF
ALUMINIUM INDUSTRIES CO LLC |
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Registered Office : |
Plot No. 599-341,
Sheikh Zayed Road, Jebel Ali Industrial Area 83059 & 55409 Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
21.06.1999 |
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Com. Reg. No.: |
52999, Dubai |
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Legal Form : |
Limited Liability
Company - LLC |
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Line of Business : |
Manufacturers of
EC grade aluminium wire rods and aluminium alloy wire rods and ingots |
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No. of Employees : |
125 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
United Arab Emirates |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
|
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 |
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 : TRANS GULF ALUMINIUM INDUSTRIES CO
LLC
Country of Origin : Dubai,
United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date : 21st
June 1999
Commercial
Registration Number : 52999,
Dubai
Trade Licence Number : 512657
Chamber Membership
Number : 55133
Issued Capital : UAE Dh
300,000
Paid up Capital : UAE Dh
300,000
Total Workforce : 125
Activities :
Manufacturers of EC grade aluminium wire rods and aluminium alloy wire rods and
ingots.
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
TRANS GULF
ALUMINIUM INDUSTRIES CO LLC
Building : Plot No. 599-341
Street : Sheikh Zayed Road
Area : Jebel Ali Industrial Area
PO Box : 83059 & 55409
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 8801524
Facsimile : (971-4) 8801514
Email : info@alrod.org
/ sales@tggroup.ae
Subject operates
from a medium sized suite of offices and a factory that are rented and located
in the Industrial Area of Dubai.
Name Nationality Position
·
Habeeb
Ahmad Mubarak Belgian Managing
Director
·
Ahmad
Hussain Lafir Indian Director
·
Habib
Sayed Mohamed Mukrim Indian Director
·
Majid
Saif Ahmad Al Ghurair Emirati Director
Date of Establishment : 21st
June 1999
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 52999, Dubai
Trade Licence No. : 512657
(Expires 20/06/2013)
Chamber Member No. : 55133
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
·
Majid
Saif Ahmad Al Ghurair 51%
·
Habeeb
Ahmad Mubarak 19%
·
Ahmad
Hussain Lafir 15%
·
Habib
Sayed Mohamed Mukrim 15%
Activities: Engaged in the manufacture of EC grade
aluminium wire rods and aluminium alloy wire rods and ingots.
Import Countries: Europe and the Far East.
Subject has a
workforce of 125 employees.
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.
·
HSBC
Bank Middle East
Deira Souk Branch
PO Box: 66
Dubai
Tel: (971-4) 2535000
No complaints
regarding subject’s payments have been reported.
Local sources report
that the subject’s operating history is clear with payment obligations met in a
generally timely manner. The financial position is satisfactory and the company
is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.28 |
|
|
1 |
Rs.84.09 |
|
Euro |
1 |
Rs.72.44 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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 |
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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 |
|
<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.