|
Report No. : |
342438 |
|
Report Date : |
25.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
ARABIAN INDUSTRIAL CO LLC |
|
|
|
|
Registered Office : |
NBK Building, Office No. 726 Airport Road 46128 Abu Dhabi |
|
|
|
|
Country : |
United Arab Emirates |
|
|
|
|
Date of Incorporation : |
23.04.1975 |
|
|
|
|
Legal Form : |
Limited Liability Company – LLC |
|
|
|
|
Line of Business : |
|
|
|
|
|
No. of Employees : |
420 |
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 – 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 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 : ARABIAN INDUSTRIAL CO LLC
Country of Origin : Abu Dhabi, United Arab Emirates
Legal Form : Limited Liability Company – LLC
Registration Date :
23rd April 1975
Commercial Registration Number : 14295, Abu Dhabi
Trade Licence Number : 5904
Chamber Membership Number : 1376
Issued Capital : UAE Dh 3,000,000
Paid up Capital : UAE Dh 3,000,000
Total Workforce : 420
Activities : Glass cutting, engraving and installation as well as steel fabrication.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : Ahmed Shoukri, Production Manager
ARABIAN INDUSTRIAL
CO LLC
Building : NBK Building,
Office No. 726
Street : Airport Road
PO Box : 46128
Town : Abu Dhabi
Country : United Arab
Emirates
Telephone : (971-2) 6333496
/ 6322565
Facsimile : (971-2)
6216962
Mobile : (971-50)
8184955
Email : aic@emirates.net.ae
Please note that subject’s previous address was, Khalidiya Tower
Building, Zayed 1st Street, Abu Dhabi.
Subject operates from a large suite of offices that are rented and
located in the Central Business Area of Abu Dhabi.
Branch Offices
Location Description
· Mussafah Office
premises
Abu Dhabi
Tel: (971-2)
5554089
Fax: (971-2)
5554140
· ICAD Industrial
Area Office
premises
Abu Dhabi
Tel: (971-2)
5507990
Name Nationality Position
· Mahmoud Mohamed Bulbul
Palestinian Managing Director
· Hassan Mohamed
Bulbul Palestinian Director
· Jassim Ibrahim Emirati Director
· Ahmed Shoukri - Production
Manager
· Ibrahim Fadel - Technical
Manager
· Abdul Nasser - Finance
Manager
Date of
Establishment : 23rd April 1975
Legal Form : Limited Liability Company – LLC
Commercial Reg.
No. : 14295, Abu Dhabi
Trade Licence No. : 5904
Chamber Mem. No. : 1376
Issued Capital : UAE Dh 3,000,000
Paid up Capital : UAE Dh 3,000,000
· Mahmoud Mohamed
Bulbul
· Hassan Mohamed
Bulbul
· Jassim Ibrahim
Activities: Engaged as wholesalers and retailers of aluminium, steel and glass
products.
Engaged in glass cutting, engraving and installation as well as steel
fabrication, producing a variety of
wrought iron products as well as stainless steel kitchen cabinets and
work surfaces.
Import Countries: Germany
International
Suppliers:
· Eduard Heuck GmbH
& Co KG Germany
Clients:
· Granite Co Abu Dhabi
· ADNOC Abu Dhabi
· Ghantous Ltd Abu Dhabi
· Nourol Co Abu Dhabi
Subject has a workforce of approximately 420 employees.
Companies registered in Abu Dhabi, 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.
·
Arab Bank Plc
Sheikh Khalifa
Street
PO Box: 875
Abu Dhabi
Tel: (971-2) 6334111
Fax: (971-2) 6336433
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 company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.10 |
|
UK Pound |
1 |
Rs.100.89 |
|
Euro |
1 |
Rs.73.96 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TRU |
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.