MIRA INFORM REPORT
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Report Date : |
10th May 2006 |
IDENTIFICATION DETAILS
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Name : |
EXPRESS PACK PRINT |
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|
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Registered Office : |
Plot
No. EWTA-28 Sheikh
Zayed Road, Jebel Ali Free Zone 16797,
Dubai United Arab Emirates |
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Date of Incorporation : |
3rd
November 1993 |
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|
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Legal Form : |
Branch
of a Foreign Registered Corporation |
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Line of Business : |
Manufacturers
of packaging materials. |
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 |
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|
|
|
Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
|
Company Name |
EXPRESS PACK
PRINT |
|
Country of
Origin |
Jersey, Channel
Islands |
|
Legal Form |
Branch of a
Foreign Registered Corporation |
|
Registration
Date |
3rd
November 1993 |
|
Trade Licence
Number |
588 |
|
Membership
Number |
28563 |
|
Issued Capital |
UAE Dh 1,850,000 |
|
Paid up
Capital |
UAE Dh 1,850,000 |
|
Total
Workforce |
140 |
|
Line of
Business |
Manufacturers of
packaging materials. |
|
Financial
Condition |
Fair |
|
Payments |
Nothing
detrimental uncovered |
|
Operating
Trend |
Steady |
COMPANY NAME
EXPRESS PACK PRINT
ADDRESS
Registered
& Physical Address
Location : Plot No. EWTA-28
Street : Sheikh Zayed Road
Area : Jebel Ali Free Zone
PO Box : 16797
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 8819990
Facsimile : (971-4) 8815745
Email : exppack@emirates.net.ae
Premises
Subject operates
from a medium sized suite of offices and a factory that are rented and located
in the Jebel Ali Free Zone of Dubai.
KEY PRINCIPALS
Mylanchikkal
Abdulla Zubair General
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 3rd November 1993
Legal Form : Subject is the United Arab Emirates
registered
branch of Express Publishing & Investment Limited,
a Limited Liability Company incorporated in
Jersey,
Channel Islands.
A Branch of a
Foreign Registered Corporation is not a legal entity in its own right. Responsibility for payments
lays in the hands of the company where it is originally registered.
Under these
circumstances, we strongly advise that any international trade credit should
only be written under the name of the main company where the subject holds its
registered office, in this case Jersey, Channel Islands.
Trade Licence
No. : 588 (Expires 31st August 2006)
Membership No. : 28563
Issued Capital : UAE Dh 1,850,000
Paid up Capital : UAE Dh 1,850,000
AFFILIATED COMPANIES
Subject belongs to
the Express group of companies that consists of the following concerns:
Express Printing
Services LLC
PO Box : 10263
Dubai
Tel : (971-4)
2857209
Fax : (971-4)
2858084
Express Print
(Publishers) LLC
PO Box : 10263
Dubai
Tel : (971-4)
2822777
Fax : (971-4) 2821855
Express Flexi Pack
PO Box : 16797
Dubai
Tel : (971-4)
8819575
Fax : (971-4)
8873990
Abdul Qadir Mohamed
Co
PO Box : 441
Dubai
Tel : (971-4)
2854964
Fax : (971-4) 2858990
Park Lane
Publishers Ltd
PO Box : 10263
Dubai
Tel : (971-4)
3911020
Fax : (971-4)
3911022
Pointec Writing
Instruments Pvt Ltd
26-A Attibelle
Industrial Area
Attibelle
Bangalore 552107
India
Tel : (91-80)
7820218
Fax : (91-80) 7820219
LINE OF BUSINESS
Operations : Engaged in the manufacture of packaging
materials.
Import Countries
: Europe and the Far East.
Operating Trend : Steady
Subject has a
workforce of 140 employees.
FINANCIAL HIGHLIGHTS
Financial
highlights provided by outside sources are given below :
Currency : United
Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/04 : Year
Ending 31/12/05 :
Total Revenue UAE Dh 18,400,000 UAE Dh 19,850,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
National Bank of
Fujairah
PO Box 2979
Dubai
Tel : (971-4)
3971700 / 5078300
Fax : (971-4)
3979100 / 3973922
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 15,000,000:
Established in
1993, subject is involved in the manufacture of packaging materials.
Any credit amount
that is to be offered to this company should be written under the name of
“Express Publishing & Investment Limited” and directed to the companies
head office address in Jersey, Channel Islands.
Maximum suggested
credit figure: US$ 200,000
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 |