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Report No. : |
332855 |
|
Report Date : |
24.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
ALUMILL TECH GULF LLC |
|
|
|
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Registered Office : |
Al Ghail Industrial Park, PO Box 86025, Ras Al Khaimah |
|
|
|
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Country : |
United Arab
Emirates |
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|
|
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Date of Incorporation : |
08.06.2008 |
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|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
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Line of Business : |
Engaged in the manufacture and coating of aluminium coils and sheets. |
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|
|
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No. of Employees : |
148 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Unknown |
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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 |
|
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. 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 :
ALUMILL TECH GULF LLC
Country of Origin :
Ras Al Khaimah, United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date :
8th June 2008
Trade Licence Number :
122693
Chamber Membership Number :
33273
Issued Capital :
UAE Dh 300,000
Paid up Capital :
UAE Dh 300,000
Total Workforce : 148
Activities :
Manufacture and coating of aluminium coils and sheets.
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed :
Arun Kumar, Finance Manager
ALUMILL TECH GULF LLC
Registered &
Physical Address
Location : Al Ghail
Industrial Park
PO Box : 86025
Town : Ras Al
Khaimah
Country : United Arab
Emirates
Telephone : (971-7) 2589099
Facsimile : (971-7)
2589190
Email :
Premises
Subject operates from a suite of offices and a factory covering 55,000
square metres that are rented and located in the Industrial Area of Ras Al
Khaimah.
Name Nationality Position
Nashat Farhan Jordanian Managing
Director
Khamees Saif Emirati Director
Hari Kumar Ramo Krishna - General
Manager
Arun Kumar - Finance
Manager
Visgal Pandi
- Sales
Manager
Date of Establishment : 8th
June 2008
Legal Form : Limited Liability
Company - LLC
Trade Licence No. : 122693 (Expires
08/06/2016)
Chamber Member No. : 33273
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of
Shareholder (s) Percentage
Khamees Saif 51%
Nashat Farhan 49%
Elite Extrusion LLC
Al Hamad Industrial Co LLC
National Aluminium Extrusion LLC
Jordan Aluminium Extrusion
Global Dyes
Thermoset Middle East LLC
Global Pioneer Aluminium Industries
United Powder Coating FZC
Elex Aluminium Products Pvt Ltd
Activities: Engaged in the manufacture and coating of aluminium coils and sheets.
The rolling mill has an annual production capacity of 24,000 MT, whilst
the coating line has an annual production capacity of 18,000 MT.
Subject has a workforce of 148 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
Unknown
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.63.71 |
|
|
1 |
Rs.99.57 |
|
Euro |
1 |
Rs.69.63 |
INFORMATION DETAILS
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
TPT |
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.