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Report No. : |
330086 |
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Report Date : |
01.07.2015 |
IDENTIFICATION DETAILS
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Name : |
AL JALAL TRADING
ESTABLISHMENT |
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Registered Office : |
103&104, Emirates
Sale Tower, 1st Floor, Buheira Corniche, P O Box: 2044, Sharjah |
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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 : |
01.09.1975 |
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Com. Reg. No.: |
19332, Sharjah |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Importer and
Distributors of Electrical Products and Equipment |
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No. of Employees : |
35 |
RATING & COMMENTS
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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 |
|
High |
B2 |
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Very High |
C1 |
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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 JALAL
TRADING ESTABLISHMENT
Country of Origin : Sharjah,
United Arab Emirates
Legal Form :
Sole Proprietorship
Registration Date : 1st
September 1975
Commercial
Registration Number : 19332,
Sharjah
Trade Licence
Number : 11592
Chamber Membership
Number : 1736
Invested Capital : UAE Dh 250,000
Total Workforce : 35
Activities :
Distributors of electrical products and equipment
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Mohamed Saleem, Accountant
AL JALAL TRADING ESTABLISHMENT
Building : 103&104, Emirates Sale Tower,
1st Floor
Location : Buheira Corniche
PO Box : 2044
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 5389953 / 5615181 / 5549593
Facsimile : (971-6) 5389951 / 5549592
Email : aljalal@emirates.net.ae / info@aljalal.ae
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Sharjah.
Branch Offices
Location Description
·
Rolla Street Office
premises
Sharjah
Tel: (971-6) 5615181
Name Nationality Position
·
Jalal Abdu Hakim Mostafa Jordanian Proprietor & General
Manager
·
Mohamed Abdullah Ali Hussain Al Ghardan Emirati Local Sponsor
·
Emad Al Zobi - Assistant
General Manager
·
Ayman Ghanim - Sales
Manager
·
Mohamed Saleem - Accountant
Date of Establishment : 1st
September 1975
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 19332,
Sharjah
Trade Licence No. : 11592
(Expires 25/08/2015)
Chamber Member No. : 1736
Invested Capital
: UAE Dh 250,000
Mr Jalal
Abdu Hakim Mostafa is the sole
proprietor of the business.
·
Al Jalal Switchgear
Sharjah
Activities: Engaged in the import and distribution of electrical
products and equipment.
Import
Countries: Europe, India
and the Far East
International Suppliers:
·
Crystal Export India
·
Eaton Electrical United
Kingdom
Operating Trend: Steady
Subject has a
workforce of 35 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 Sales UAE Dh
18,500,000 UAE Dh
19,125,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Mohamed Saleem, Accountant
·
National
Bank of Sharjah
PO Box: 4
Sharjah
Tel: (971-6) 5547747
·
National
Bank of Fujairah
PO Box: 1416
Sharjah
Tel: (971-6) 5561100
Fax: (971-6) 5561010
Acc No. 012000704642
Swift Code: NBFUAEAFXXX
Iban No.
AE800380000012000704642
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
business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.75 |
|
|
1 |
Rs.100.12 |
|
Euro |
1 |
Rs.71.20 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
DPT |
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 |
|
|
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 |
|
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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 |
|
|
<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.