|
Report Date : |
16.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
TAWAZUN HOLDING COMPANY LLC |
|
|
|
|
Registered Office : |
Al Maamoura
Building, Mourour Street, Al Nahya Area, 908 Abu Dhabi |
|
|
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Country : |
United Arab Emirates |
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|
|
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Date of Incorporation : |
24.10.2007 |
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Legal Form : |
Limited Liability Company - LLC |
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|
|
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Line of Business : |
Engaged in the
provision of industrial partnerships and strategic investment services. |
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|
|
|
No. of Employees : |
200 |
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 |
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|
|
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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 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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 : TAWAZUN
HOLDING COMPANY LLC
Country of Origin : Abu Dhabi,
United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date : 24th
October 2007
Trade Licence
Number : 1009892
Chamber Membership
Number : 290993
Issued Capital : UAE Dh
50,000
Paid up Capital : UAE Dh
50,000
Total Workforce : 200
Activities :
Providers of industrial partnerships and strategic investment services.
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
TAWAZUN HOLDING
COMPANY LLC
Building : Al Maamoura Building
Street : Mourour Street
Area : Al Nahya Area
PO Box : 908
Town : Abu Dhabi
Country : United Arab Emirates
Telephone : (971-2) 6160000
Facsimile : (971-2) 6274299 / 6160001
Email : info@tawazun.ae
Subject operates
from a large suite of offices that are rented and located in the Central
Business Area of Abu Dhabi.
Name Position
·
HE
Saif Mohamed Al Hajeri Chief
Executive Officer
Date of Establishment : 24th
October 2007
Legal Form :
Limited Liability Company -
LLC
Trade Licence No. : 1009892
(Expires 18/02/2015)
Chamber Member No. : 290993
Issued Capital : UAE Dh 50,000
Paid up Capital : UAE Dh 50,000
·
Tawazun
Economic Council
·
Tawazun
Industrial Park
·
Nimr
Automotive
·
Abu
Dhabi Autonomous Systems Investments
·
Tawazun
Precision Industries
·
Caracal
International
·
Merkel
·
Burkan
Munitions Systems
·
Carcal
Light Ammunition
·
Tawazun
Dynamics
·
Remaya
·
The
Tawazun Training Center
Activities: Engaged in the provision of industrial
partnerships and strategic investment services.
Subject is a strategic investment firm focused on
the long-term development of Abu Dhabi’s industrial
manufacturing and technology capabilities and
knowledge- transfer with a specific focus on the defense
sector.
Tawazun borne out of the long-established Tawazun Economic Council, was
created in 2007 to develop
ventures through industrial partnerships and strategic investments that
add value to the UAE’s industrial
manufacturing sector across a number of
areas: defence & aerospace, automotive, munitions, metals and
technology.
Subject has a workforce of 200 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.
·
National
Bank of Abu Dhabi
Sheikh Khalifa Street
PO Box: 4
Abu Dhabi
Tel: (971-2) 6345777 / 6327113 / 6335262
Fax: (971-2) 6336078
No complaints
regarding subject’s payments have been reported.
According to local
sources, subject enjoys a good reputation for the quality of its products with
nothing detrimental uncovered regarding the manner in which operations are
conducted. As such the company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.10 |
|
|
1 |
Rs.98.15 |
|
Euro |
1 |
Rs.77.68 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
PDT |
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.