|
Report Date : |
28.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
DP WORLD UAE REGION FZE |
|
|
|
|
Registered Office : |
Operation Building, Terminal 1, LOB 17, Ground Floor, Jebel Ali Free Zone, P O Box 17000, Dubai |
|
|
|
|
Country : |
United Arab Emirates |
|
|
|
|
Date of Incorporation : |
06.03.2006 |
|
|
|
|
Legal Form : |
Free Zone Establishment - FZE |
|
|
|
|
Line of Business : |
Providers of
Cargo and Port Management Services. |
|
|
|
|
No. of Employees : |
7,500 |
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 : |
Good |
|
Payment Behaviour : |
Regular |
|
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 : DP WORLD
UAE REGION FZE
Country of Origin : Dubai,
United Arab Emirates
Legal Form : Free
Zone Establishment - FZE
Registration Date : 6th
March 2006
Trade Licence
Number : 6751
Issued Capital : UAE Dh
2,000,000
Paid up Capital : UAE Dh
2,000,000
Total Workforce : 7,500
Activities :
Providers of cargo and port management services
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
DP WORLD UAE REGION
FZE
Location : Operation Building, Terminal 1, LOB
17, Ground Floor, Jebel Ali Free Zone
PO Box : 17000
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 8040122 / 8040101 / 8040143 /
8815555
Facsimile : (971-4) 8817777
Email : marketing@dpworld.com
Subject operates from
a large suite of offices that are rented and located in the Jebel Ali Free Zone
Area of Dubai.
Name Position
·
Mohamed
Al Mulhem Senior
Vice President
·
Hesham
Abdullah Operations
Manager
·
Essam
Khoory Procurement
Manager
Date of Establishment : 6th
March 2006
Legal Form :
Free Zone Establishment -
FZE
Trade Licence No. : 6751
(Expires 15/09/2015)
Issued Capital : UAE Dh 2,000,000
Paid up Capital : UAE Dh 2,000,000
·
D P
World Ltd 100%
Sheikh Zayed Road, Gate No. 4, LOB 17
Jebel Ali Free Zone
PO Box: 17000
Dubai
Tel: (971-4) 8815000 / 8811110 / 8815555 / 8818888
Fax: (971-4) 8817777 / 8816093
·
DP
World FZE
Jebel Ali Terminal 2
Jebel Ali Free Zone
PO Box: 17000
Dubai
Tel: (971-4) 8811110 / 8088219
Fax: (971-4) 8812978
Activities: Engaged in the provision of cargo and port
management services.
DP World UAE Region is the largest marine terminal and port operator in the
Middle East, providing market access to 2 billion people across the wider
region. The UAE portfolio includes the flagship Jebel Ali Port, Mina
Rashid Cruise Terminal, Mina Rashid Coastal Berth, Mina Al Hamriya, and
Fujairah Container Terminal.
Subject has a
workforce of approximately 7,500 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.
·
Commercial
Bank of Dubai
Baniyas Street
Deira
PO Box: 1709
Dubai
Tel: (971-4) 2227121 / 2253222
Fax: (971-4) 2220943 / 2254565
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.61.23 |
|
|
1 |
Rs.98.53 |
|
Euro |
1 |
Rs.77.75 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.