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Report No. : |
345759 |
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Report Date : |
20.10.2015 |
IDENTIFICATION DETAILS
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Name : |
GULF JYOTI
INTERNATIONAL LLC |
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Registered Office : |
Dubai Investment Park No. 2, Plot No. 597-653, P O Box: 211154, 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 : |
22.03.2006 |
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Com. Reg. No.: |
75566, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Subject is
engaged in the provision of power transmission and substation solutions. |
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No. of Employees : |
345 |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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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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Status : |
Good |
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Payment Behaviour : |
Regular |
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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 |
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High |
B2 |
|
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. The country's free
trade zones - offering 100% foreign ownership and zero taxes - are helping to
attract foreign investors. The global financial crisis of 2008, 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 economic diversification and creating more job opportunities for nationals
through improved education and increased private sector employment.
|
Source
: CIA |
Company Name : GULF JYOTI
INTERNATIONAL LLC
Country of Origin : Dubai,
United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date : 22nd
March 2006
Commercial
Registration Number : 75566,
Dubai
Trade Licence
Number : 572056
Chamber Membership
Number : 105852
Issued Capital : UAE Dh
300,000
Paid up Capital : UAE Dh
300,000
Total Workforce : 345
Activities :
Providers of power transmission and substation solutions
Financial Condition : Good
Payments :
Regular
Operating Trend : Steady
Person Interviewed : Pardeep Kumar Daz, General Manager
GULF JYOTI
INTERNATIONAL LLC
Location : Dubai Investment Park No. 2, Plot
No. 597-653
PO Box : 211154
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 8857824 / 8149555 / 3218992
Facsimile : (971-4) 8857819 / 3218993
Email : contact@gulfjyoti.com
Subject operates
from a large suite of offices and a factory that are rented and located in the
Industrial Area of Dubai.
Name Position
·
Mohamed
Al Melham Chairman
·
Prakash
K Thakur Managing
Director
·
Santosh
V Nayak Director
·
Pardeep Kumar Daz General
Manager
·
Nitin
Sawani Finance
Manager
·
G P
Singh Marketing
Manager
Date of Establishment : 22nd
March 2006
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 75566, Dubai
Trade Licence No. : 572056
Chamber Member No. : 105852
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
·
Gulf
Investment Corporation 70%
Kuwait
·
Jyoti
Structures Ltd 30%
6th
Floor, Valecha Chambers
New Link Road
Mumbai 400053
India
Tel: (91-22) 40915000
Fax: (91-22) 40915014
·
Jyoti
Structures FZE
Office No. TPOFCB0612
Jebel Ali Free Zone
PO Box: 261344
Dubai
Tel: (971-4) 8807670
Fax: (971-4) 8807671
Activities: Engaged in the provision of power transmission
and substation solutions.
Subject has an
established state-of-the-art power transmission tower manufacturing facility on
a land admeasuring 100,000 square metres with an annual capacity of 50,000 MT
at Dubai Investment Park, Dubai. This plant is equipped with fully automated
Computer Numerical Controlled (CNC) machines for fabrication and the
environment friendly Galvanizing plant imported from Italy is the most modern
and fully automated plant in the world.
With an established Construction division, the Company offers turnkey
solutions to execute Transmission Line & Sub Station Projects.
Subject is an ISO 9001:2008, ISO 14001:2004 & OHSAS 18001:2007
certified company.
Operating Trend: Steady
Subject has a
workforce of approximately 345 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 301,350,000 UAE Dh 309,725,000
Local sources
consider subject’s financial condition to be Good.
The above figures
were provided by Mr Pardeep Kumar
Daz, General Manager
·
Commercial
Bank of Dubai
Baniyas Street
Deira
PO Box: 1709
Dubai
Tel: (971-4) 2227121 / 2253222
Fax: (971-4) 2220943 / 2254565
Regular
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.64.82 |
|
|
1 |
Rs.100.12 |
|
Euro |
1 |
Rs.73.75 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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|
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|
Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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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.