|
Report No. : |
326365 |
|
Report Date : |
13.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
AL FAHED TILES & MOSAIC FACTORY |
|
|
|
|
Registered Office : |
Sheikh Zayed Road, Al Quoz Industrial Area No. 1, PO Box 24087, Dubai |
|
|
|
|
Country : |
United
Arab Emirates |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
17.06.1987 |
|
|
|
|
Com. Reg. No.: |
573 |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Engaged in the manufacture of concrete tiles and mosaic tiles as well
as the cutting, grinding and polishing of marble. |
|
|
|
|
No. of Employees : |
75 |
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 |
|
Payment Behaviour : |
No Complaints |
|
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. 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 :
AL FAHED TILES & MOSAIC FACTORY
Country of Origin :
Dubai, United Arab Emirates
Legal Form :
Sole Proprietorship
Registration Date :
17th June 1987
Commercial Registration Number :
573, Dubai
Trade Licence Number :
300171
Chamber Membership Number :
12280
Invested Capital : UAE Dh 2,500,000
Total Workforce :
75
Activities :
Manufacture of concrete tiles and mosaic tiles as well as the cutting,
grinding and polishing of marble
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
AL FAHED TILES & MOSAIC FACTORY
Registered &
Physical Address
Street : Sheikh Zayed
Road
Area : Al Quoz
Industrial Area No. 1
PO Box : 24087
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 3470244
/ 3470040
Facsimile : (971-4)
3476488 / 3470316
Mobile : (971-50) 2240825 / 6563086
Email : alfahed@eim.ae
/ balat99@emirates.net.ae
Premises
Subject operates from a medium sized suite of offices and a factory that
are owned and located in the Industrial Area of Dubai.
Name Nationality Position
Abdullah Ahmad Mohamed Bin Fahed Emirati Proprietor
Emad Eddine Abdul Kader Abdul Hameed
- General
Manager
Mohamed Muhiddin Mubeen - Assistant
General Manager
Asif Hussain - Financial Controller
Mohamed Hussain - Public
Relations Officer
Date of Establishment : 17th
June 1987
Legal Form : Sole
Proprietorship
Commercial Reg. No. : 573, Dubai
Trade Licence No. : 300171 (Expires
04/04/2015)
Chamber Member No. : 12280
Invested Capital : UAE Dh 2,500,000
Mr Abdullah Ahmad Mohamed Bin Fahed is the sole proprietor of the
business.
Al Fahed Marble LLC
Dubai
Al Fahed Real Estate Est
Dubai
Activities: Engaged in the manufacture of concrete tiles and mosaic tiles as well
as the cutting, grinding and polishing of marble.
Import Countries: Spain, Italy and India
Operating Trend: Steady
Subject has a workforce of 75 employees.
Financial highlights provided by local sources are given below:
Currency: United Arab Emirates Dirham (UAE Dh)
Year Ending 31/12/12: Year Ending 31/12/13:
Total Sales UAE
Dh 23,680,000 UAE Dh
24,200,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
Emirates National Bank of Dubai
Baniyas Street
PO Box: 777
Dubai
Tel: (971-4) 2222241
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.64.03 |
|
|
1 |
Rs.99.27 |
|
Euro |
1 |
Rs.71.90 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.