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Report Date : |
03.07.2014 |
IDENTIFICATION DETAILS
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Name : |
ARABIAN INDUSTRIAL CO LLC |
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Registered Office : |
NBK Building, Office
No. 726, Airport Road, P O Box 46128, Abu Dhabi |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
23.04.1975 |
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Com. Reg. No.: |
14295,
Abu Dhabi |
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Legal Form : |
Limited Liability
Company |
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Line of Business : |
· Engaged as wholesalers and retailers of aluminium, steel and glass products. ·
Engaged in glass cutting, engraving and
installation as well as steel fabrication, producing a variety of wrought iron
products as well as stainless steel kitchen cabinets and work surfaces. |
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No of Employees : |
420 (Approximately) |
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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
United Arab Emirates |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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 : ARABIAN INDUSTRIAL CO LLC
Country of Origin : Abu Dhabi, United Arab Emirates
Legal Form : Limited Liability Company – LLC
Registration Date :
23rd April 1975
Commercial Registration Number : 14295,
Abu Dhabi
Trade Licence Number : 5904
Chamber Membership Number : 1376
Issued Capital : UAE Dh 3,000,000
Paid up Capital : UAE Dh 3,000,000
Total Workforce : 420
Activities : Glass cutting, engraving and installation as well as steel fabrication.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : Ahmed Shoukri, Production Manager
ARABIAN INDUSTRIAL
CO LLC
Registered &
Physical Address
Building : NBK Building, Office No. 726
Street : Airport Road
PO Box : 46128
Town : Abu Dhabi
Country : United Arab Emirates
Telephone : (971-2) 6333496 / 6322565
Facsimile : (971-2) 6216962
Mobile : (971-50) 8184955
Email : aic@emirates.net.ae
Please note that
subject’s previous address was, Khalidiya Tower Building, Zayed 1st
Street, Abu Dhabi.
Premises
Subject operates
from a large suite of offices that are rented and located in the Central
Business Area of Abu Dhabi.
Branch Offices
Location Description
·
Mussafah Office
premises
Abu Dhabi
Tel: (971-2) 5554089
Fax: (971-2) 5554140
·
ICAD
Industrial Area Office
premises
Abu Dhabi
Tel: (971-2) 5507990
Name Nationality Position
·
Mahmoud
Mohamed Bulbul Palestinian Managing Director
·
Hassan
Mohamed Bulbul Palestinian Director
·
Jassim
Ibrahim Emirati Director
·
Ahmed
Shoukri - Production Manager
·
Ibrahim
Fadel - Technical
Manager
·
Abdul
Nasser - Finance
Manager
Date of Establishment : 23rd
April 1975
Legal Form :
Limited
Liability Company – LLC
Commercial Reg. No. : 14295,
Abu Dhabi
Trade Licence No. : 5904
(Expires 22/02/2015)
Chamber Mem. No. : 1376
Issued Capital : UAE Dh 3,000,000
Paid up Capital : UAE Dh 3,000,000
Name of Shareholder
(s)
·
Mahmoud
Mohamed Bulbul
·
Hassan
Mohamed Bulbul
·
Jassim
Ibrahim
Activities: Engaged as wholesalers and retailers of
aluminium, steel and glass products.
Engaged in glass cutting,
engraving and installation as well as steel fabrication, producing a variety of
wrought iron products as well
as stainless steel kitchen cabinets and work surfaces.
Import
Countries: Germany
International Suppliers:
·
Eduard
Heuck GmbH & Co KG Germany
Clients:
·
Granite
Co Abu Dhabi
·
ADNOC Abu Dhabi
·
Ghantous
Ltd Abu Dhabi
·
Nourol
Co Abu Dhabi
Subject has a workforce
of approximately 420 employees.
Companies
registered in Abu Dhabi, 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.
·
Arab
Bank Plc
Sheikh Khalifa Street
PO
Box: 875
Abu
Dhabi
Tel:
(971-2) 6334111
Fax:
(971-2) 6336433
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.59.97 |
|
|
1 |
Rs.102.89 |
|
Euro |
1 |
Rs.82.02 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
MNL |
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 |
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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 |
|
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.