|
Report Date : |
19.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
GIANT HOLDINGS
FZE |
|
|
|
|
Registered Office : |
Saif Zone, Block
8254, P O Box 9664, |
|
|
|
|
Country : |
United Arab Emirates |
|
|
|
|
Date of Incorporation : |
28.08.2006 |
|
|
|
|
Legal Form : |
Free Zone
Establishment - FZE |
|
|
|
|
Line of Business : |
Operators
of chain supermarkets as well as importing and distributing general
merchandise |
|
|
|
|
No. of Employees : |
65 |
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, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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 country 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. 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 : GIANT
HOLDINGS FZE
Country of Origin : Sharjah,
United Arab Emirates
Legal Form :
Free Zone Establishment - FZE
Registration Date : 28th
August 2006
Trade Licence
Number : 03260, Saif Zone
Issued Capital : UAE Dh
1,000,000
Paid up Capital : UAE Dh
1,000,000
Total Workforce : 65
Activities :
Operators of chain supermarkets as well as importing
and distributing
general merchandise
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed : Mahes Bahran, Logistics
Manager
GIANT HOLDINGS FZE
Location : Saif Zone, Block 8254
PO Box : 9664
Town : Sharjah
Country : United Arab Emirates
Building : Al Ain Centre, Suite No. 212-214
Street : Al Mankhool Road
Area : Bur Dubai
PO Box : 713
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3596600
Facsimile : (971-4) 3596601
Email : rajukmarg@giantuae.com / stc@giantuae.ae
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Dubai.
Branch Office
(s)
Location Description
·
Trade Centre Road Sales Office
Dubai
Tel: (971-4) 3965550
Fax: (971-4)
3965551
Name Nationality Position
·
Vashdev Kewlani Nazikdas Indian Managing
Director
·
Hareesh
Lilram Kawlani Indian Director
·
Shanker
Lakyani Indian Director
·
Mahes
Bahran - Logistics Manager
·
Raju
Kumar Gadwani - Commercial Manager
·
Dilip
Jitani - Marketing Manager
·
Ashwini
Sharma - Accounting Manager
Date of Establishment : 28th
August 2006
Legal Form :
Free Zone Establishment -
FZE
Trade Licence No. : 03260, Saif Zone
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
·
Vashdev Kewlani Nazikdas
·
Hareesh
Lilram Kawlani
·
Shanker
Lakyani
·
Shankar
Trading Co LLC
Al Kifaf Centre, Ground Floor
Al Ras Street
Al Ras, Karama
PO Box: 713
Dubai
Tel: (971-4) 3965550 / 3596600
Fax: (971-4) 3965551 / 3596601
·
Giant
Supermarkets LLC
Dubai
·
Avenue
LLC
Dubai
Activities: Operators of
chain supermarkets under the name of Giant Supermarkets, as well as importing
and
distributing
general merchandise.
Subject operates supermarkets
in Dubai, Sharjah, Ajman , Khor Fakkan and
Fujairah.
Import
Countries: Europe and the
Far East
Subject has a
workforce of 65 employees.
Companies
registered in Sharjah, 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.
·
ABN
Amro Bank
Deira Branch
PO Box: 2567
Dubai
Tel: (971-4) 3512200
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.63 |
|
|
1 |
Rs.101.06 |
|
Euro |
1 |
Rs.84.56 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIT |
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.