|
|
|
MIRA INFORM REPORT
|
Report No. : |
494782 |
|
Report Date : |
03.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
OUTLOOK GENERAL TRADING LLC |
|
|
|
|
Registered Office : |
Al Falasi Building Mussafah Industrial Area, M43 Abu Dhabi |
|
|
|
|
Country : |
United Arab Emirates |
|
|
|
|
Date of Incorporation : |
29.06.2014 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Subject is engaged in the provision of onshore and offshore
oilfield and gas services. |
|
|
|
|
No. of Employees : |
30 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
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
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
United Arab Emirates |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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 from the oil and gas sector to 30%.
Since the discovery of oil in the UAE nearly 60 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 2008-09, 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 Government that was refinanced in March 2014.
The UAE’s dependence on oil is a significant long-term challenge, although the UAE is one of the most diversified countries in the Gulf Cooperation Council. Low oil prices have prompted the UAE to cut expenditures, including on some social programs, but the UAE has sufficient assets in its sovereign investment funds to cover its deficits. The government reduced fuel subsidies in August 2015, and has announced plans to introduce excise and value-added taxes by January 1, 2018. The UAE's strategic plan for the next few years focuses on economic diversification, promoting the UAE as a global trade and tourism hub, developing industry, and creating more job opportunities for nationals through improved education and increased private sector employment.
|
Source
: CIA |
SUMMARY
Company Name : OUTLOOK GENERAL TRADING LLC
Country of Origin : Abu Dhabi, United Arab Emirates
Legal Form : Limited Liability Company
Registration Date : 29th June 2014
Trade Licence Number : 1818642, Abu Dhabi
Chamber Membership Number : 592409
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Total Workforce : 30
Activities : Providers of onshore and offshore oilfield and gas services
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : Abdul Moniem Lootah, Managing Director
COMPANY
NAME
OUTLOOK GENERAL TRADING LLC
ADDRESS
Registered &
Physical Address
Building :
Al Falasi Building
Area :
Mussafah Industrial Area, M43
Town :
Abu Dhabi
Country : United Arab
Emirates
Telephone :
(971-2) 5512330
Facsimile :
(971-2) 5512338
Mobile :
(971-50) 1892221 / (971-56) 6197861
Email : info@ogt-uae.com
Premises
Subject operates from a medium sized suite of offices and a
warehouse that are rented and located in the Industrial Area of Abu Dhabi.
Branch Office (s)
Location Description
· Light
Tower, M12, Arjan Office
premises
PO Box: 91291
Dubai
Tel: (971-4) 2855062 / 5570899
Fax: (971-4) 2855612
KEY
PRINCIPALS
Name Nationality Position
·
Abdul Moniem
Lootah Emirati Managing
Director
· Shah
Navas Kochi - Marketing
Manager
· Mahmoud
Moustafa - Office
Manager
LEGAL
FORM & OWNERS
Date
of Establishment : 29th
June 2014
Legal
Form : Limited
Liability Company
Trade
Licence No. :
1818642, Abu Dhabi (Expires 06/06/2018)
Chamber
Member No. :
592409
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE
Dh 150,000
Name of
Shareholder (s) Percentage
· Najm Suhail Investment
LLC 100%
Abu Dhabi
AFFILIATED
COMPANIES
· Outstanding General
Trading LLC
Dubai
· Azzam Oilfield &
Services LLC
Abu
Dhabi
· Bolan
Mineral Investment LLC
Abu
Dhabi
OPERATIONS
Activities: Engaged in the provision of onshore
and offshore oilfield and gas services.
Subject provides the equipment,
infrastructure, manpower and logistics to enable efficient delivery to client
requirements. Currently, OGT holds strategic mineral partnership and agency
agreements for a number of barite, iron ore and led mines including regional
investments for securing the sources.
The company is also in the
process of developing processing hubs to handle and process Barite, Bentonite
and Calcium Carbonate.
Import Countries: Europe and the Far East
Subject has a workforce of 30 employees.
FINANCIAL
DATA
Companies registered in Abu Dhabi are not legally required
to make their accounts public and no financial information was released by the
company or submitted by outside sources.
BANKERS
·
National Bank of Abu Dhabi
Sheikh
Khalifa Street
PO
Box: 4
Abu
Dhabi
Tel:
(971-2) 6345777 / 6327113 / 6335262
Fax:
(971-2) 6336078
PAYMENT
HISTORY
No complaints regarding subject’s payments have been
reported.
GENERAL
COMMENTS
The subject and its shareholders/owners have been searched
in the following databases; Office of Foreign Assets Control (OFAC), United
Nations Security Council Sanctions, Australian Sanctions List, US Consolidated
Sanctions List, EU Financial Sanctions List and UK Financial Sanctions List and
nothing adverse could be found on the exact names listed within the report.
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 |
INR 65.23 |
|
|
1 |
INR 89.71 |
|
Euro |
1 |
INR 79.50 |
|
UAE DH |
1 |
INR 17.75 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
TRU |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.