MIRA INFORM REPORT

 

 

Report No. :

508417

Report Date :

10.05.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

MOHD BIN GHALAITA TRADING

 

 

Registered Office :

Sobha Sapphire Office No. 311, Al Khail Road, Bur Dubai, 65803 Dubai, United Arab Emirates

 

 

Country :

United Arab Emirates

 

 

Date of Incorporation :

30.09.1997

 

 

Com. Reg. No.:

501494

 

 

Legal Form :

Individual Establishment

 

 

Line of Business :

·         Non-specialised wholesale of food, beverages and tobacco;

·         Agents involved in the sale of timber and building materials;

·         Wholesale of coffee, tea, cocoa and spices;  

 

 

No. of Employees :

26  

 

 

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

MOHD BIN GHALAITA TRADING

 

ADDRESS

Building

Street

Area

PO Box

Sobha Sapphire Office No. 310 & 311 

Al Khail Road

Business Bay, near to Capital Golden Tower  

65803

Dubai

TEL/FAX 

Verified Phones: (+971 4) 458 8163 / Fax: (+971 4) 458 7945

EMAIL/WEBSITE

Email: konain@binghalaita.ae / Website: www.binghalaita.ae

ACTIVITY

 

NACE 4639 - Non-specialised wholesale of food, beverages and tobacco; NACE 4613 - Agents involved in the sale of timber and building materials; NACE 4637 - Wholesale of coffee, tea, cocoa and spices;  

PRINCIPAL 

Mohd Ahmed Ali Khaleefa Bin Ghalaita Al Muhairi

Workforce 

Owner 

26  

LEGAL INFO 

 

Date Of Est.

Reg. No.

Legal Form

Status

30/09/1997

501494

Individual Establishment

Active

CAPITAL

CURRENCY

AMOUNT

AED 

1,000,000 

 

 

BUSINESS INFORMATION REPORT

 

IDENTIFICATION

CO. NAME

MOHD BIN GHALAITA TRADING

ALSO KNOWN NAME (S)

Mohd Bin Ghalaita Trading (FMCG) / Mohammed Bin Ghalaita Trading / MBG Trading 

BUILDING

Sobha Sapphire Office No. 310 & 311  

STREET

Al Khail Road

AREA

Business Bay, near to Capital Golden Tower   

POSTAL ADDRESS

65803 Dubai

CITY

Dubai

COUNTRY

United Arab Emirates

TELEPHONE

(+971 4) 458 8163 / (+971 4) 458 7763 / (+971 4) 272 1055 / (+971 4) 333 9057 / Mobiles (+971 50) 925 5007 / (+971 52) 905 3248 / (+971 52) 905 3243 / (+971 50) 357 4415       

FAX

(+971 4) 458 7945

VERIFIED EMAIL

konain@binghalaita.ae / buildm@binghalaita.ae / fmcg@binghalaita.ae / jinesh@binghalaita.ae  

WEBSITE

www.binghalaita.ae / www.mbgtradinguae.com

BUSINESS HOURS

DAYS

OFFICE HOURS

BREAK TIME

Sun-Thu

08:30-17:30

13:00-13:30

REGISTERED ADDRESS

Sobha Sapphire Office No. 311, Al Khail Road, Bur Dubai, 65803 Dubai, United Arab Emirates   

 

 

SENIOR PERSONNEL

 

MANAGEMENT

NAME

POSITION

Mohd Ahmed Ali Khaleefa Bin Ghalaita Al Muhairi

Owner 

Jinesh Mathew

 

Konain Ahmed

 

Hakeem T.K. 

General Manager

 

Group Accounts Manager

 

Sales Manager

WORKFORCE

NO. OF EMPLOYEES

PERIOD

26

05.2018

200 plus (Mohd Bin Ghalaita Group of Companies) 

05.2018

 

 

FINANCIAL SUMMARY

 

REVENUE  

31/12/2017

31/12/2018 (Projected)

AED 700,000,000

AED 720,000,000

NET PROFIT / (LOSS)    

Not given but stated to be profitable

NOTES    

The following financial information applies to  Mohd Bin Ghalaita Group of Companies:

 

AED 5,000,000,000 – 2017 (approx)

FISCAL YEAR-END

31 December 

 

 

LEGAL STATUS 

 

INCORPORATION

30/09/1997

REGISTRATION NO.       

C.R. NUMBER

ISSUED BY  

Trade License No.: 501494

(expiry date: 29/09/2018)

Dubai Department of Economic Development

OTHER REGISTRATION NO.     

DCCI Membership No.: 46090 (issued on:  09/10/1997)

AUTHORISED CAPITAL     

AMOUNT

CURRENCY

1,000,000 (increased from 300,000)

AED

PAID-UP CAPITAL  

AMOUNT

CURRENCY 

1,000,000 (increased from 300,000)

AED

LEGAL FORM 

Individual Establishment

BUSINESS HISTORY 

The Company was incorporated in Dubai on 30 September 1997.  

STATUS

Active

OWNER   

NAME  

PERCENTAGE

Mohd Ahmed Ali Khaleefa Bin Ghalaita Al Muhairi *

Nationality: Emirati

 

* GCCC nationals can conduct business activities through any of the following legal structures:

- Individual Establishment;

- Limited Liability Company comprised of two or more GCCC nationals may establish a Limited Liability firm;

- Private / Public Shareholding Company, where three or more GCCC nationals establish a private shareholding company to practice a specific commercial activity. However, if there are one or more partners who are not GCCC nationals then, one or more UAE national partner(s) is/are required, with a shareholding of 51% of the paid-up capital. For Example, a GCCC partner, and a foreign partner, must have at least one partner who is a United Arab Emirates national.

- Civil Business Company, where two or more GCCC nationals can establish a civil business company to practice a specific profession without a Local Service Agent. However, if there are any partners who are not GCCC nationals, a Local Services Agent who is a UAE national must be appointed and/or included as a partner.* GCCC nationals can conduct business activities through any of the following legal structures:

- Individual Establishment;

- Limited Liability Company comprised of two or more GCCC nationals may establish a Limited Liability firm;

- Private / Public Shareholding Company, where three or more GCCC nationals establish a private shareholding company to practice a specific commercial activity. However, if there are one or more partners who are not GCCC nationals then, one or more UAE national partner(s) is/are required, with a shareholding of 51% of the paid-up capital. For Example, a GCCC partner, and a foreign partner, must have at least one partner who is a United Arab Emirates national.

- Civil Business Company, where two or more GCCC nationals can establish a civil business company to practice a specific profession without a Local Service Agent. However, if there are any partners who are not GCCC nationals, a Local Services Agent who is a UAE national must be appointed and/or included as a partner.

100.00%

 

 

OPERATION

 

BANKERS    

1. Dubai Islamic Bank

   Al Maktoum Road

   Port Saeed Area

   PO Box: 1080

   Dubai

   UAE

   Tel: (+971 4) 295 3000

   Fax: (+971 4) 295 4111

 

2. National Bank of Ras Al Khaimah (P.J.S.C)

   (aka RAK Bank)

   Al Qusais Branch

   Dubai Residential Oasis, Damascus Rd.

   Dubai

   UAE

   Telephone: (+971 4) 213 0000

ACTIVITY CODE (NACE)    

NACE 4639 - Non-specialised wholesale of food, beverages and tobacco; NACE 4613 - Agents involved in the sale of timber and building materials; NACE 4637 - Wholesale of coffee, tea, cocoa and spices;

LINE OF BUSINESS    

Subject operates through the following divisions:

 

- FMCG division. Traders, wholesalers and processors of spice powders, rice,  including masala mixes, breakfast staples and a host of other products

 

- Building Materials division. Traders and wholesalers of cast iron, ductile iron manhole covers, clay and ceramic roof tiles, cladding bricks as well as ceramic and granite tiles. 

IMPORT FROM

worldwide, mainly from India, Italy, Greece, Czech Republic, Brazil, China, Myanmar, Australia, Canada and USA.

EXPORT TO 

GCC and African countries. 

TRADE REFERENCES 

BRICKLAND s.r.o.

Nepomucka 208

326 00 Plzen-Cernice

Czech Republic 

FACILITIES

Leased premises comprising administrative offices located at the heading address as well as several warehouse facilities located elsewhere in Dubai. 

RELATED COMPANIES

Subject is a member of Mohd Bin Ghalaita Group of Companies, which also includes the following companies:  

 

Associates

 

1. Mohd. Bin Ghalaita Electronics 

   310, Sobha Sapphire,

   Business Bay,

   PO Box: 65803

   Dubai

   UAE

   Tel: (+971 4) 458 8163

   Fax: (+971 4) 458 7945

   Email: mbgelectronics@binghalaita.ae

   Est.: 13/02/1992

   Trade License No.: 227208

 

2. Mohd Bin Ghalaita Auto Spare Parts L.L.C

   Aden Street 13

   PO Box: 24582

   Dubai 

   UAE

   Tel: (+971 4) 333 8677 

   Est.: 02/09/1995 

   Trade License No.: 238988 

 

3. Mohammed Bin Ghalaita  Cargo Clearing &  

   General Transport

   PO Box: 65971

   Dubai

   Tel: (+971 4) 333 9057   

   Fax: (+971 4) 333 1178

   Est.: 27/05/1996

   Trade License No.: 301154 

 

4. Mohammed Bin Ghalaita Group Of Companies &   

   Establishment    

   310, Sobha Sapphire,

   Business Bay,

   PO Box: 65803

   Dubai

   UAE

   Tel: (+971 4) 458 8163

   Fax: (+971 4) 458 7945

   Est.: 30/12/2009

   Trade License No.: 632996 

 

5. Mohammad Bin Ghalaita Packing Services L.L.C

   PO Box: 65971

   Dubai

   UAE 

   Tel: (+971 4) 336 4355 

   Est.: 15/12/2014

   Trade License No.: 722650

 

6. Mohammad Bin Ghalaita Trucks & Heavy 

   Equipment Trading   

   Near Aweer Jail, Truck Market,

   Office No- 12

   Dubai

   UAE

   Tel: (+971 4) 333 1361

   Email: mbghve@binghalaita.ae

   Est.: 10/06/2015

   Trade License No.: 736244

 

7. MOHD.BIN GHALAITA BLDG MAT TR

   Sharjah

 

8. Al Khaleeja Furniture

   Beside Cargo Village Airport Road, Near  

   Aramax And Modern Printing Press, Al Garhoud  

   Dubai

   Tel: (+971 4) 282 8241

 

9. Mindsoft Global Technologies L.L.C

   310, Sobha Sapphire,

   Business Bay,

   PO Box: 65803

   Dubai

   UAE

   Tel: (+971 4) 458 8163

   Fax: (+971 4) 458 7945

   Est.: 10/07/2013

   Trade License No.: 691970 (expired on:

   09/07/2016)

10.Suntron Electronics – Dubai

   Dubai, UAE

   Est.: 21/08/1993 

   Trade License No.: 301225

 

11.Suntron Electronics – Fujairah

   Fujairah, UAE

   Est.: 20/09/2006   

   Trade License No.: 16969

 

12.Suntron Electronics – Ras al-Khaimah

   Ras al-Khaimah, UAE

   Est.: 09/12/2006    

   Trade License No.: 26492

 

13.Suntron Electronics – Abu Dhabi  

   Abu Dhabi, UAE

   Est.: 05/08/2008

   License No.: CN-1149637

 

14.Suntron Electronics – Ajman 

   Ajman, UAE

   Est.: 26/09/2017

   License No.: 93288 

 

 

SPECIAL REMARKS 

 

INTERVIEWED   

Konain Ahmed (Group Accounts Manager).

COMMENTS    

The area name given by you: BUSINESS WAY is misspelt. Please note that the correct area name is as per heading.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 67.38

UK Pound

1

INR 91.09

Euro

1

INR 79.75

UAE DH

1

INR 18.31

 

Note : Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

NIS

 

 

Report Prepared by :

KET

                                                


 

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)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.