MIRA INFORM REPORT

 

Report No. :

326955

Report Date :

15.06.2015

 

IDENTIFICATION DETAILS

 

Name :

MAITHA GENERAL TRADING LLC

 

 

Registered Office :

Al Quoz Industrial Area No. 2, P O Box 4191, Dubai

 

 

Country :

United Arab Emirates  

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

12.02.1978

 

 

Com. Reg. No.:

43522, Dubai

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Distributors of oilfield supplies and relief supplies for the United Nations.

 

 

No. of Employees :

54

 

 

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 – June 30th, 2012

 

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

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 UAE 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. The economy is expected to continue a slow rebound. 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

 

SUMMARY

 

Company Name                                    : MAITHA GENERAL TRADING LLC

Country of Origin                                   : Dubai, United Arab Emirates

Legal Form                                           : Limited Liability Company - LLC

Registration Date                                  : 12th February 1978

Commercial Registration Number           : 43522, Dubai

Trade Licence Number                           : 204802

Chamber Membership Number               : 3988

Issued Capital                                       : UAE Dh 3,000,000

Paid up Capital                                     : UAE Dh 3,000,000

Total Workforce                                     : 54

Activities                                               : Distributors of oilfield supplies and relief supplies for the United Nations.

Financial Condition                                : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                    : Steady

 

 

 

COMPANY NAME

 

MAITHA GENERAL TRADING LLC

 

 

Company ADDRESS

 

Registered & Physical Address

Location           : Al Quoz Industrial Area No. 2

PO Box            : 4191

Town                : Dubai

Country             : United Arab Emirates

Telephone         : (971-4) 3386444

Facsimile          : (971-4) 3392600

Email                : mgtdxb11@emirates.net.ae / mgtgroup@emirates.net.ae

 

Premises

Subject operates from a medium sized suite of offices that are rented and located in the Central Business Area of Dubai.

 

Branch Office (s)

 

     Location                                                                                          Description

 

·       Jebel Ali Free Zone                                                                           Rented warehouse premises

     Dubai

 

 

KEY PRINCIPALS

 

     Name                                                           Nationality                    Position

 

·       Ashok Puri                                                   Kenyan                         Managing Director

 

·       Abdul Rahman Abdullah Mohamed Ali Ahli     Emirati                          Director

 

·       Manjo Puri                                                        -                               General Manager

 

·       M A Arvind                                                       -                               Financial Manager

 

·       Nalesh Jawar                                                    -                               Commercial Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 12th February 1978

 

Legal Form                  : Limited Liability Company - LLC

 

Commercial Reg. No.   : 43522, Dubai

 

Trade Licence No.        : 204802 (Expires 19/01/2014)

 

Chamber Member No.  : 3988

 

Issued Capital              : UAE Dh 3,000,000

 

Paid up Capital            : UAE Dh 3,000,000

 

Name of Shareholder (s)                                                     Percentage

·       Abdul Rahman Abdullah Mohamed Ali Ahli                             51%

 

·       Ashok Puri                                                                           49%

 

 

AFFILIATED COMPANIES

 

·       Maitha Clearing & Forwarding LLC

Sheikh Zayed Road

PO Box: 4191

Dubai

Tel: (971-4) 3386444

Fax: (971-4) 3392700

Email: mcfc@emirates.net.ae

 

·       Headline Trading LLC

Sheikh Zayed Road, Plot No. 1320

PO Box: 14079 & 4191

Dubai

Tel: (971-4) 3386444

Fax: (971-4) 3392800

Email: hsedubai@emirates.net.ae

 

·       Tubular Solutions and Drilling Services

Dubai

 

·       MGT Oilfield Division

Dubai

 

·       Bertolini Furniture

Dubai

 

·       MAP Interiors LLC

Dubai

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of a wide range of general merchandise, but specialising in two

                 main areas:

 

         -  Oilfield and related supplies

         -  Relief supplies for the United Nations

 

The company’s oilfield supplies include valves, pumps, instrumentation, pipelines, cranes and winches, whilst the UN relief supplies chiefly comprise blankets, hygienic kits, foodstuffs, disposable cutlery and plastic products.

 

Subject also deals in construction equipment such as earthmoving machinery, as well as industrial

supplies including filters, hydraulics, heaters, radiators and air conditioning equipment.

 

Import Countries: Europe and the Far East

 

Operating Trend: Steady

                                          

Subject has a workforce of 54 employees.

 

 

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: United Arab Emirates Dirham (UAE Dh)

 

                                                Year Ending 31/12/11:               Year Ending 31/12/12:

 

Total Sales                                UAE Dh 27,000,000                   UAE Dh 28,250,000

 

Local sources consider subject’s financial condition to be Fair.

 

The above financial figures are based on estimations by our local sources.

 

 

BANKERS

 

·       Standard Chartered Bank

Khalid Bin Waleed Street

PO Box: 999

Dubai

Tel: (971-4) 2520455

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

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.64.03

UK Pound

1

Rs.99.27

Euro

1

Rs.71.90

 

INFORMATION DETAILS

 

Report Prepared by :

NIT

 

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