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Report No. : |
335745 |
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Report Date : |
11.08.2015 |
IDENTIFICATION DETAILS
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Name : |
GUARDIAN ZOUJAJ
INTERNATIONAL FLOAT GLASS CO LLC |
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Registered Office : |
Guardian RAK Building, Umm Al Quwain-Ras Al Khaimah Road, E11-Road, Al Jazeer Al Hamra, P O Box: 6297, Ras Al Khaimah |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
03.06.2006 |
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Com. Reg. No.: |
23917, Ras Al
Khaimah |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Manufacturers of
Float Glass and Vacuum Coating. |
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No. of Employees : |
260 |
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 |
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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, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
United Arab Emirates |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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. 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 and
ultimately a $20 billion bailout from the UAE Central Bank and Abu
Dhabi-emirate government that was refinanced in March 2014. 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 : GUARDIAN
ZOUJAJ INTERNATIONAL FLOAT GLASS CO LLC
Country of Origin : Ras Al
Khaimah, United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date : 3rd
June 2006
Commercial
Registration Number : 23917, Ras
Al Khaimah
Chamber Membership
Number : 24798
Issued Capital : UAE Dh
10,000,000
Paid up Capital : UAE Dh
10,000,000
Total Workforce : 260
Activities :
Manufacturers of float glass and vacuum coating.
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
GUARDIAN ZOUJAJ
INTERNATIONAL FLOAT GLASS CO LLC
Building : Guardian RAK Building
Street : Umm Al Quwain-Ras Al Khaimah Road, E11-Road
Area : Al Jazeer Al
Hamra
PO Box : 6297
Town : Ras Al Khaimah
Country : United Arab Emirates
Telephone : (971-7) 2058000 /
2446533
Facsimile : (971-7) 2058001 / 2058003
Mobile : (971-50) 4321960
Email : sjupta@guardian.com
Subject operates
from a large suite of offices and a factory that are owned and located in the Industrial
Area of Ras Al Khaimah.
Name Position
·
Altaf
Passan General
Manager
·
Chandan
Bram Production
Manager
·
Wessam
Kazzaz Marketing
Manager
·
Retish
Parek Finance
Manager
Date of Establishment : 3rd
June 2006
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 23917, Ras
Al Khaimah
Chamber Member No. : 24798
Issued Capital : UAE Dh 10,000,000
Paid up Capital : UAE Dh 10,000,000
·
Guardian
Middle East ABS 45%
Denmark
·
The National Co For Glass Investment 45%
Saudi Arabia
·
Al Zamil Group 10%
Saudi Arabia
·
Gulf
Guard Glass Co
Jubail
Saudi Arabia
Activities: Engaged in the manufacture of float glass
and vacuum coating.
Import
Countries: Europe and GCC
countries.
Subject has a
workforce of approximately 260 employees.
Companies
registered in Ras Al Khaimah, 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 Ras Al Khaimah
NBRAK Building
PO Box: 5300
Ras Al Khaimah
Tel: (971-7) 2221127
Fax: (971-7) 2224202
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.63.76 |
|
|
1 |
Rs.98.76 |
|
Euro |
1 |
Rs.69.80 |
INFORMATION DETAILS
|
Analysis Done by
: |
TRI |
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|
|
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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 |
|
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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 |
|
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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 |
|
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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 |
-- |
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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.