MIRA
INFORM REPORT
|
Report Date : |
21st
June 2006 |
IDENTIFICATION
DETAILS
|
Name : |
AL BUHEIRA LACNOR DAIRIES CO LTD |
|
|
|
|
Registered Office : |
Green
Belt Street, Sharjah Industrial Area No. 4 5983,
Sharjah, United Arab Emirates |
|
|
|
|
Country : |
United
Arab Emirates |
|
|
|
|
Date of Incorporation : |
25th January 1978 |
|
|
|
|
Com. Reg. No.: |
2742, Sharjah |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Engaged in production and marketing of
dairy products as well as fruit
juices and drinks. |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
SUMMARY
|
Company Name |
AL BUHEIRA LACNOR DAIRIES CO LTD |
|
Country of Origin |
Sharjah, United Arab Emirates |
|
Legal Form |
Limited Liability Company |
|
Registration Date |
25th January 1978 |
|
Commercial Registration Number |
2742, Sharjah |
|
Trade Licence Number |
10358 |
|
Membership Number |
4054 |
|
Issued Capital |
UAE Dh 2,000,000 |
|
Paid up Capital |
UAE Dh 2,000,000 |
|
Total Workforce |
600 |
|
Line of Business |
Production and marketing of dairy products as well as fruit juices and drinks. |
|
Financial Condition |
Undetermined |
|
Payments |
Nothing detrimental uncovered |
COMPANY NAME
AL
BUHEIRA LACNOR DAIRIES CO LTD
ADDRESS
Registered
& Physical Address
Street : Green Belt Street
Area : Sharjah Industrial Area No. 4
PO Box : 5983
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 5331551
Facsimile : (971-6) 5336102
Email : lacnor@emirates.net.ae
Premises
Subject
operates from a large suite of offices, a factory and distribution facilities
that are owned and located in the Industrial Area of Sharjah.
Branch
Office (s)
Location Description
Mussafah
Industrial Area, M1 Distribution
centre
Abu
Dhabi
Tel :
(971-2) 5582808
Ajman Distribution
centre
Al Ain Distribution
centre
KEY PRINCIPALS
Name Nationality Position
Fady
Gargas Antonious Lebanese Managing
Director
Farag
Ali Bin Hamoodah Emirati Director
Rajev
Menon - Commercial
Manager
Clifford
Medonsa - Production
Manager
Najeeb
Nasiri - Administration
Manager
Mohamed
Al Attari - Financial
Controller
LEGAL FORM & OWNERS
Date
of Establishment : 25th January 1978
Legal
Form : Limited Liability Company
Commercial
Reg. No. : 2742, Sharjah
Trade
Licence No. : 10358
Membership
No. : 4054
Issued
Capital : UAE Dh 2,000,000
Paid
up Capital : UAE Dh 2,000,000
Name of
Shareholder (s) Percentage
Farag
Ali Bin Hamoodah 51%
Fady
Gargas Antonious 49%
AFFILIATED COMPANIES
Bin
Hamoodah Trading & General Services Co (Bin Hamoodah Automotive)
Bin Hamoodah Building
Old Airport Road
PO Box : 203
Abu Dhabi
Tel : (971-2) 4448888
Fax : (971-2) 4449073
Alpha Data LLC
Alpha Data Megastore
Airport Road
PO Box : 45384
Abu Dhabi
Tel : (971-2) 6333644
Fax : (971-2) 6211924 / 6392192
Email : vijay@alpha.co.ae
Gulf
Automation Services & Oil Field Supplies (GASCO)
National
Food Products
Sahara
Transport & Contracting Co
Tareef
Trading Co
Howard
Al Geemi & Partners
LINE OF BUSINESS
Operations
: Engaged in the
production and marketing of dairy products as well as fruit juices and drinks.
Import
Countries :
Germany, the United Kingdom and Australia.
Brand
Names : BUHEIRA
LACNOR
Subject
has a workforce of approximately 600 employees.
FINANCIAL HIGHLIGHTS
Companies
registered in Sharjah, 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.
BANKERS
National
Bank of Sharjah
Al Boorj
Avenue
PO Box : 4
Sharjah
Tel : (971-6) 5547747
National Bank of Abu Dhabi
Al Boorj
Avenue
PO Box :
4
Sharjah
Tel :
(971-6) 547745
Fax :
(971-6) 543483
Arab
Bank Plc
PO Box :
130
Sharjah
Tel :
(971-6) 5353994
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
Date of
transaction January
2002
Credit
amount 250,000
Amount
overdue 0
Payment
terms 90 days
Payment
Method Letters of
Credit
Paying
record No
Complaints
Currency Euros
GENERAL COMMENTS
Opinion
on the credit figure of US$ 150,000
Al
Buheira Lacnor Dairies Co Ltd is very well established in the local market with
operations dating back to 1978. It is engaged in the production and marketing
of dairy products as well as fruit juices and drinks, operating branches in
Sharjah, Abu Dhabi, Ajman and Al Ain.
Local
sources report that payment obligations are met in a timely manner with no
problems noted regarding the operating history. As such the company is
considered to be a fair trade risk and the above credit figure is deemed to be
within subject’s financial means.
Maximum
suggested credit figure: US$ 750,000
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 |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
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 |