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Report Date : |
24.01.2013 |
IDENTIFICATION DETAILS
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Name : |
GULF JYOTI INTERNATIONAL LLC |
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Registered Office : |
Dubai Investment Park, Plot No. 597-653, PO Box 211154, Dubai |
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Country : |
United Arab Emirates |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
22.03.2006 |
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Com. Reg. No.: |
75566 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Providers of power transmission and substation solutions. |
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No. of Employees : |
345 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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) |
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United Arab Emirates |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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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.
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Source : CIA |
Company Name :
GULF JYOTI INTERNATIONAL LLC
Country of Origin :
Dubai, United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date :
22nd March 2006
Commercial Registration Number : 75566, Dubai
Trade Licence Number :
572056
Chamber Membership Number :
105852
Issued Capital :
UAE Dh 300,000
Paid up Capital :
UAE Dh 300,000
Total Workforce :
345
Activities :
Providers of power transmission and substation solutions.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
GULF JYOTI INTERNATIONAL LLC
Registered &
Physical Address
Location : Dubai
Investment Park, Plot No. 597-653
PO Box : 211154
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 8857824
/ 8149555 / 3218992
Facsimile : (971-4)
8857819 / 3218993
Email : contact@gulfjyoti.com
Premises
Subject operates from a large suite of offices and a factory that are rented
and located in the Industrial Area of Dubai.
Name Position
Mohamed Al Melham Chairman
Prakash K Thakur Managing
Director
Santosh V Nayak Director
Nitin Sawani Finance
Manager
G P Singh Marketing
Manager
Date of Establishment : 22nd
March 2006
Legal Form : Limited Liability
Company - LLC
Commercial Reg. No. : 75566, Dubai
Trade Licence No. : 572056
Chamber Member No. : 105852
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of
Shareholder (s) Percentage
Gulf Investment Corporation 70%
Kuwait
Jyoti Structures Ltd 30%
6th Floor, Valecha Chambers
New Link Road
Mumbai 400053
India
Tel: (91-22) 40915000
Fax: (91-22) 40915014
Jyoti Structures FZE
Office No. TPOFCB0612
Jebel Ali Free Zone
PO Box: 261344
Dubai
Tel: (971-4) 8807670
Fax: (971-4) 8807671
Activities: Engaged in the provision of power transmission and substation
solutions.
Subject has an established state-of-the-art power transmission tower
manufacturing facility on a land
admeasuring 100,000 square metres with an annual capacity of 50,000 MT
at Dubai Investment Park, Dubai.
This plant is equipped with fully automated Computer Numerical
Controlled (CNC) machines for
fabrication and the environment friendly Galvanizing plant imported from
Italy is the most modern and fully automated
plant in the world.
With an established Construction division, the Company offers turnkey solutions
to execute Transmission Line & Sub Station Projects.
Subject is an ISO 9001:2008, ISO 14001:2004 & OHSAS 18001:2007
certified company.
Operating Trend: Steady
Subject has a workforce of approximately 345 employees.
Financial highlights provided by local sources are given below:
Currency: United Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/10: Year Ending
31/12/11:
Total Sales UAE
Dh 91,000,000 UAE Dh
96,750,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
Commercial Bank of Dubai
Baniyas Street
Deira
PO Box: 1709
Dubai
Tel: (971-4) 2227121 / 2253222
Fax: (971-4) 2220943 / 2254565
No complaints regarding subject’s payments have been reported.
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
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Indian Rupees |
|
US Dollar |
1 |
Rs.53.77 |
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|
1 |
Rs.85.13 |
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Euro |
1 |
Rs.71.57 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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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.