|
Report Date : |
27.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
JAWAD BUSINESS
GROUP |
|
|
|
|
Registered Office : |
Jebel Ali Free
Zone, Plot No. S20602, P O Box 27540
& 18193, Dubai |
|
|
|
|
Country : |
United Arab Emirates |
|
|
|
|
Date of Incorporation : |
01.01.2008 |
|
|
|
|
Legal Form : |
Free Zone Company |
|
|
|
|
Line of Business : |
importer
and exporter of Footwear,
Clothing, Fashion Accessories and Leather Products. |
|
|
|
|
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 |
|
|
|
|
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 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 |
|
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 : JAWAD BUSINESS GROUP
Also Known As : JAWAD FZCO
Country of Origin : Dubai, United Arab Emirates
Legal Form : Free Zone Company - FZCO
Registration Date : 1st January 2008
Trade Licence Number : 6237
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Total Workforce : 15
Activities : Import and export of footwear, clothing, and leather products.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
JAWAD BUSINESS
GROUP
JAWAD FZCO
Registered &
Physical Address
Location : Jebel Ali Free Zone, Plot No.
S20602
PO Box : 27540 & 18193
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 8110500 / 8110503 / 8862733
Facsimile : (971-4) 8110501
/ 8862734
Mobile :
(971-50) 9263398
Email : retish.machrantes@jawad.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Jebel Ali Free
Zone, Dubai.
Name Nationality Position
·
Faisal Hassan Jawad Bahraini Managing
Director
·
Imtiaz Khan - General
Manager
·
Feroz Mohamed - Commercial
Manager
·
Roshni
Lobo - Administrative
Officer
·
Vikram Visa - Logistics
Officer
·
Retish Machrantes - Shipping
Manager
Date of Establishment : 1st
January 2008
Legal Form :
Free Zone Company - FZCO
Trade Licence No. : 6237,
JAFZA
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Name of Shareholder
(s)
·
Jawad Business Group
PO Box: 430
Manama
Bahrain
Tel: (973-17) 253032
Fax: (973-17) 273866
·
Faisal Hassan Jawad
·
Outfit LLC
Dubai
United Arab Emirates
·
Demon
Restaurant Management Services WLL
157 Sheikh Issa Avenue
PO Box: 5896 & 430
Manama
Bahrain
Tel: (973-17) 295060
Fax: (973-17) 292702
Activities: Engaged in the import
and export of footwear, clothing, fashion accessories and leather products.
Import
Countries: United Kingdom
and India
International
Suppliers:
·
Hush Puppies United
Kingdom
·
Adams United
Kingdom
Brand Names: MONSOON, REEBOK and PUMPKIN
PATCH
Subject has a
workforce of 15 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.
·
Standard
Chartered Bank
Jebel Ali Free Zone
PO Box: 999
Dubai
Tel: (971-4) 8856600
·
Habib Bank
Government Avenue
PO Box: 566
Manama
Bahrain
Tel: (973-17) 254889 / 273285
Fax: (973-17) 276685
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.58.58 |
|
|
1 |
Rs.98.66 |
|
Euro |
1 |
Rs.79.81 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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 |
|
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.