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Report No. : |
306526 |
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Report Date : |
06.02.2015 |
IDENTIFICATION DETAILS
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Name : |
ALE MIDDLE |
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Registered Office : |
Office No. M-44, Ground Floor, Queenex Complex, Plot No. 12, Street
No. 16 Mussafah Industrial Area, M37, 52875, |
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Country : |
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Date of Incorporation : |
06.06.2001 |
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Com. Reg. No.: |
47626 |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Subject is engaged in the
provision of heavy equipment lifting services, pipe, tubes and infrastructure
projects. |
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No. of Employee : |
150 |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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United Arab Emirates |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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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. 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.
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Source
: CIA |
Company Name : ALE MIDDLE
Country of Origin : Abu Dhabi, United Arab Emirates
Legal Form :
Limited Liability Company – LLC
Registration Date :
6th June 2001
Commercial Registration Number :
47626, Abu Dhabi
Trade Licence Number :
1039730
Chamber Membership Number :
89452
Issued Capital :
UAE Dh 150,000
Paid up Capital :
UAE Dh 150,000
Total Workforce :
150
Activities :
Providers of heavy equipment lifting services, pipe, tubes and infrastructure
projects
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
ALE MIDDLE EAST LLC
Building : Office No.
M-44, Ground Floor, Queenex Complex, Plot No. 12
Street : Street No.
16
Area : Mussafah
Industrial Area, M37
PO Box : 52875
Town : Abu Dhabi
Country : United Arab
Emirates
Telephone : (971-2) 5508741
Facsimile : (971-2)
5508742
Email : middleeast@ale-heavylift.com
Subject operates from a large suite of offices that are rented and
located in the Industrial Area of Abu Dhabi.
Name Position
· Ghaith Salem Saif
l Muhairbi Managing
Director
· Mansour Salem Saif
l Muhairbi Director
· Mohamed Salem Saif
l Muhairbi Director
· Ahmed Salem Saif l
Muhairbi Director
· Saif Salem Saif l
Muhairbi Director
· Saqr Salem Saif l
Muhairbi Director
· Fatim Salem Saif l
Muhairbi Director
· Taghreed Salem
Saif l Muhairbi Director
· Halima Ghaith
Khalfan Al Muhairbi Director
· Yasser Al Yaseen Operations
Manager
Date of
Establishment : 6th
June 2001
Legal Form : Limited Liability Company – LLC
Commercial Reg.
No. : 47626, Abu Dhabi
Trade Licence No. : 1039730 (Expires 31/03/2015)
Chamber Mem. No. : 89452
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
· Ghaith Salem Saif
l Muhairbi
· Mansour Salem Saif
l Muhairbi
· Mohamed Salem Saif
l Muhairbi
· Ahmed Salem Saif l
Muhairbi
· Saif Salem Saif l
Muhairbi
· Saqr Salem Saif l
Muhairbi
· Fatim Salem Saif l
Muhairbi
· Taghreed Salem
Saif l Muhairbi
· Halima Ghaith
Khalfan Al Muhairbi
· ALE Transport Ltd
United Kingdom
Activities: Engaged in the provision of heavy equipment lifting services, pipe,
tubes and infrastructure projects.
Operating Trend: Steady
Subject has a workforce of 150 employees.
Financial highlights provided by local sources are given below:
Currency: United Arab Emirates Dirham (UAE Dh)
Year Ending 31/12/13: Year Ending 31/12/14:
Total Revenue UAE
Dh 51,200,000 UAE Dh
54,000,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
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.
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. 61.87 |
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|
1 |
Rs. 94.07 |
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Euro |
1 |
Rs. 70.19 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
ASH |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 |
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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 |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.