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Report No. : |
307313 |
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Report Date : |
18.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
AL RAWASI ROCK
& AGGREGATE COMPANY LLC |
|
|
|
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Registered Office : |
Al Taween Area,
Habhab, P O Box: 2313, |
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|
|
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Country : |
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|
|
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Date of Incorporation : |
08.09.2003 |
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|
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Com. Reg. No.: |
10028545, |
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|
|
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Legal Form : |
Limited Liability Company - LLC |
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LINE OF BUSINESS : |
MANUFACTURERS AND PROCESSORS OF AGGREGATE
AND CRUSHED LIME. |
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No. of Employees : |
17 |
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 |
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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) |
|
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 : AL RAWASI ROCK &
AGGREGATE COMPANY LLC
Country of Origin : Fujairah,
United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date : 8th
September 2003
Commercial Registration
Number : 10028545, Fujairah
Trade Licence
Number : 80096
Chamber Membership
Number : 8506
Issued Capital : UAE Dh
10,000,000
Paid up Capital : UAE Dh
10,000,000
Total Workforce : 17
Activities :
Manufacturers and processors of aggregate and crushed lime
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed : Joyous
Palickaparambil, Financial Manager
AL RAWASI ROCK
& AGGREGATE COMPANY LLC
Location : Al Taween Area, Habhab
PO Box : 2313
Town : Fujairah
Country :
Telephone : (971-7) 2448225 / 2448361
Facsimile : (971-7) 2448237
Mobile : (971-55) 3752927
Email : admin@al-rawasi.ae / joyous@al-rawasi.ae
Subject operates
from a small suite of offices and a factory that are rented and located in the Industrial
Area of Fujairah.
Name Nationality Position
·
Tushya
Jatia - General
Manager
·
Saad Al
Azzawi
Iraqi Assistant
General Manager
·
Nabil
Aqel Lebanese Chief
Administration Officer
·
Shaker
Al Khateeb - Sales
Manager
·
Denish
Babu - Accountant
·
Mathew
Raman - Mining
Manager
·
Joyous
Palickaparambil - Financial
Manager
Date of Establishment : 8th
September 2003
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 10028545,
Fujairah
Trade Licence No. : 80096
(Expires 31/12/2015)
Chamber Member No. : 8506
Issued Capital : UAE Dh 10,000,000
Paid up Capital : UAE Dh 10,000,000
·
Fujairah
International Trading Co (FITCO) 51%
Fujairah
·
ASI
Global Ltd 48%
Mauritius
·
Associated
Stone Industries Ltd (ASI) 1%
India
·
Al
Ghandi & Consolidated Contractors International Co LLC
PO Box: 1741
Dubai
Tel: (971-4) 3045100
Fax: (971-4) 3425874
·
National
Petroleum Construction Company Ltd (NPCC)
Saif Bin Gobash Building
Plot No. 71, Zayed II Street, Zone No. 6
Mussafah Industrial Area
PO Box: 2058
Abu Dhabi
Tel: (971-2) 5549000 / 5599000
Fax: (971-2) 5549111 / 5599111
Activities: Engaged in the manufacture and processing
of aggregate and crushed lime.
Import
Countries: Europe and GCC
countries.
Subject has a
workforce of 17 employees.
Companies registered
in Fujairah, 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 Fujairah
PO Box: 887
Fujairah
Tel: (971-9) 2224518 / 2224513
Fax: (971-9) 2224516 / 2229470
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.62.20 |
|
|
1 |
Rs.95.99 |
|
Euro |
1 |
Rs.71.00 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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.