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Report Date : |
21.11.2013 |
IDENTIFICATION DETAILS
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Name : |
MJB INTERNATIONAL LTD |
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|
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Registered Office : |
Oilfields Supply Centre, Gate No. 7, R/A No. 9, Exit No. 13, Sheikh Zayed
Road, Jebel Ali Free Zone, PO Box: 11931, Dubai |
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Country : |
United Arab Emirates |
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|
|
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Financials (as on) : |
31.12.2012 |
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|
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Date of Incorporation : |
21.10.2000 |
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Com. Reg. No.: |
57676, Dubai |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Distributors of pumps, engines, valves and spare parts for turbines |
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|
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No. of Employees : |
15 |
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 – 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 : MJB INTERNATIONAL LTD
Also Known As : MJB
INTERNATIONAL TURBINE SERVICES / MASOOD JOHN BROWN
Country of Origin :
Dubai, United Arab Emirates
Legal Form :
Limited Liability Company
Registration Date :
21st October 2000
Commercial Registration Number :
57676, Dubai
Trade Licence Number : 521990
Chamber Membership Number :
61017
Issued Capital :
UAE Dh 300,000
Paid up Capital :
UAE Dh 300,000
Total Workforce :
15
Activities :
Distributors of pumps, engines, valves and spare parts for turbines
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
MJB INTERNATIONAL LTD
MJB INTERNATIONAL TURBINE SERVICES / MASOOD JOHN
BROWN
Registered &
Physical Address
Building : Oilfields
Supply Centre, Gate No. 7, R/A No. 9, Exit No. 13
Street : Sheikh Zayed
Road
Area : Jebel Ali
Free Zone
PO Box : 11931
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 8836319
Facsimile : (971-4)
8836486
Email : info@mjbi.com
Premises
Subject operates from a small suite of offices and a warehouse covering
an area of 8,270 square metres that are rented and located in the Industrial
Area of Dubai.
Branch Office (s)
Location Description
PO Box: 332 Office
premises
Abu Dhabi
Tel: (971-2) 6418814
Fax: (971-2) 6418815
Name Nationality Position
Rahman Mohd Almasaood Almuhairi Emirati Managing
Director
Brian Waddell - General
Manager
Date of Establishment : 21st
October 2000
Legal Form : Limited Liability
Company
Commercial Reg. No. : 57676, Dubai
Trade Licence No. : 521990
Chamber Member No. : 61017
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of
Shareholder (s) Percentage
Al Masaood & Sons 51%
Abu Dhabi
Tel: (971-2) 6722300
Turbine Services Ltd 49%
United Kingdom
Adref
Advanced Horticulture
Advanced Rent a Car
Advanced Travel & Tourism
Al Masaood Automobiles
Al Masaood Bergum
Al Masaood Industrial Equipment
Al Masaood Jewellery
Al Masaood Logistics
Al Masaood Marine Transportation
Al Masaood National General Contracting LLC
Al Masaood Oil Industry Supplies & Services Company
Al Masaood Power Engineering
Al Masaood Projects & Engineering Services
Al Masaood Property
Al Masaood Travel
Al Masaood Trucks, Equipment & Marine Engines
Al Masaood Tyres & Accessories
All Seasons Flowers
AM Shipyard
Aquamotion
Avenue Design
Avenue Engineering Consultant
Berns Brett Masaood LLC
Desert Roses
Ducati
Emirates for American & European Cars LLC
Emirates for Universal Tires LLC
Emirates Mushrooms
Enviromotion
Equity Power
Harley Davidson
Hippy Chick Deli
Horse & Course
Humaid Al Masaood Software Systems
KSB Service LLC
Leaders Insurance Brokers
LLJ Property
Marine Essentials
Marvel Solutions LLC
Masaood Developments
Masaood Marine
MTM Marine
Mugg & Bean LLC
Multigolfe UAE LLC
Nomad Media
OEL Apix
OEL Bearing Technology
Opera Gallery
Osborne Training Services
Ready Rocks Quarries
Renk UAE LLC
Resorts International Property
Revolution
Semco
Sharjah Grand Hotel
Sheleila Yacht Charter
Solutions Hygiene LLC
Specialized Sports Equipment
Superior Marinas
Target
Timco
Turbo Power Services
X System
Yellow Boats
Activities: Engaged in the import and
distribution of pumps, engines, valves and spare parts for turbines.
Subject offers the following services:
Spare and replacement parts
Component repair
Component manufacture
Aero derivative gas turbine services
Field maintenance and engineering services
Control system retrofits
Power systems training rotor repair and
overhaul
Turbine blade repair and coatings
Complete gas turbine refurbishment
Engineering technology and support
Compressor services
Import Countries: Europe
and the Far East.
Operating Trend: Steady
Subject has a workforce of 15 employees.
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 12,600,000 UAE Dh
13,150,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
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.
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.62.56 |
|
|
1 |
Rs.100.77 |
|
Euro |
1 |
Rs.84.71 |
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.