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Report No. : |
308248 |
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Report Date : |
19.02.2015 |
IDENTIFICATION DETAILS
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Name : |
JUBAILI BROS SAL |
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Registered Office : |
Sheikh Zayed Road, Jebel Ali Free Zone, P O Box: 16520, Dubai |
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Country : |
United Arab Emirates |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
01.04.1997 |
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Legal Form : |
Branch of a Foreign Registered Corporation |
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Line of Business : |
Import and Distribution
of construction equipment and machinery, engines, power generation,
transmission and distribution equipment, valves and pumps. |
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No. of Employees : |
175 |
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 : |
Branch of a
Foreign Registered Corporation |
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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 |
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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.
|
Source
: CIA |
Company Name : JUBAILI
BROS SAL
Country of Origin : Lebanon
Legal Form :
Branch of a Foreign Registered Corporation
Registration Date : 1st
April 1997
Trade Licence
Number : 1585
Chamber Membership
Number : 44330
Issued Capital : UAE Dh
60,000
Paid up Capital : UAE Dh 60,000
Total Workforce : 175
Activities :
Distributors of construction equipment and machinery, engines, power
generation, transmission and distribution
equipment, valves and pumps
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Sunil Kumar, Financial Controller
JUBAILI BROS SAL
Street : Sheikh Zayed Road
Area : Jebel Ali Free Zone
PO Box : 16520
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 8832023
Facsimile : (971-4) 8832053
Email : youssef.hashem@jubailigroup.com
/ jbdubai@jubailbros.com
Subject operates
from a large suite of offices that are rented and located in the Central
Business Area of Dubai.
Name Nationality Position
·
Maher
Mohamed Rajab Jubaili Lebanese Managing
Director
·
Mukaram Abdul Malik - Administration
Manager
·
Sunil Kumar - Financial
Controller
·
Jad Jubaili - Business
Development Manager
·
Zoub Mohamed - Sales Manager
Date of Establishment : 1st
April 1997
Legal Form :
Subject is the United Arab
Emirates registered branch of Jubaili Bros SAL, a Limited Liability
Company incorporated in Lebanon.
Jubaili Bros SAL in the United
Arab Emirates, operates as a Branch of a Foreign Registered
Corporation.
A Branch of a Foreign
Registered Corporation is not a legal entity in its own
right. Responsibility for
payments lays in the hands of the company where it is
originally registered.
Under these circumstances, we
strongly advise that any international trade
credit should only be written
under the name of the main company where the
subject holds its registered
office, in this case Lebanon.
Trade Licence No. : 1585
(Expires 31/03/2015)
Chamber Member No. : 44330
Issued Capital : UAE Dh 60,000
Paid up Capital : UAE Dh 60,000
·
Jubaili Bros Qatar WLL
Doha
Qatar
·
Jubaili Bros Co WLL
Safat
Kuwait
Activities: Engaged in the import and distribution of
construction equipment and machinery, engines, power
generation, transmission and distribution equipment, valves and pumps.
Import
Countries: France, United
Kingdom and the United States of America
International Suppliers:
·
Allmand Bros United
States of America
·
Leory Somer France
·
Perkins United
Kingdom
Operating Trend: Steady
Subject has a
workforce of approximately 175 employees.
Financial highlights
provided by local sources are given below:
Currency: United
States Dollars (US$)
Year
Ending 31/12/13: Year Ending
31/12/14:
Total Sales US$ 36,670,000 US$ 40,000,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Sunil Kumar,
Financial Controller
·
Habib
Bank Ltd
Murshid Bazaar
PO Box: 888
Dubai
Tel: (971-4) 2221281
Fax: (971-4) 2284631
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.62.25 |
|
|
1 |
Rs.95.57 |
|
Euro |
1 |
Rs.71.01 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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|
Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
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 |
-- |
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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.