MIRA
INFORM REPORT
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Report Date : |
07.08.2007 |
IDENTIFICATION DETAILS
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Name : |
PLANET OPTICAL DISC LTD FZE |
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Registered Office : |
Al Twar Road, Dubai Airport Free Zone, P O Box – 31108, |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
08.12.2001 |
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Legal Form : |
Mouassasat Al Mintaka Al Horra (Free Zone Establishment - FZE) |
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Line of Business : |
Engaged in the manufacture of CD’s, DVD’s, electronic chips and
semiconductors |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
US$ 500,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name :
PLANET OPTICAL DISC LTD FZE
Country of Origin :
Legal Form :
Free Zone Establishment - FZE
Registration Date :
8th December 2001
Trade Licence Number :
38
Membership Number :
66175
Issued Capital :
UAE Dh 75,000,000
Paid up Capital :
UAE Dh 75,000,000
Total Workforce :
80
Line of Business :
Manufacturers of CD’s, DVD’s, electronic chips and semiconductors.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
COMPANY NAME
PLANET OPTICAL DISC LTD FZE
ADDRESS
Registered & Physical Address
Street :
Area :
PO Box : 31108
Town :
Country :
Telephone : (971-4) 2995050
Facsimile : (971-4)
2994610
Email : sd@pod.co.ae
Premises
Subject operates from a medium sized suite of offices and a factory
covering an area of 55,000 square feet that are leased and located in the Dubai
Airport Free Zone.
KEY PRINCIPALS
Name Nationality Position
Subhash Dudani Indian Managing
Director
Rajesh Keshwani - General
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 8th
December 2001
Legal Form : Mouassasat Al
Mintaka Al Horra (Free Zone Establishment - FZE)
Trade Licence No. : 38
Membership No. : 66175
Issued Capital : UAE Dh 75,000,000
Paid up Capital : UAE Dh 75,000,000
Name of Shareholder
(s) Percentage
Subhash Dudani 100%
Note to the Legal Form
A Free Zone Establishment (FZE) is a Private Limited Liability Company,
with its liability determined by the amount of paid-up capital. The minimum
share capital currently stands at UAE Dh 1,000,000.
This legal form allows for 100 percent foreign ownership within the
United Arab Emirates and allows foreign companies to maintain a presence in the
UAE (within the free zone), without the usual requirement of a local sponsor
that would hold majority ownership, ie minimum of 51 % equity in the capital.
LINE OF BUSINESS
Operations : Engaged in the
manufacture of CD’s, DVD’s, electronic chips and semiconductors.
Subject’s full range of services
consists of:
- Authoring
- Mastering
- Quality Control
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Replication
- Printing
- Packaging
- Fulfilment & Logistics
- Post Production
Import Countries : Europe and the
International Suppliers :
Macrovision Corporation
MLS Laserlock International
Operating Trend : Steady
Subject has a workforce of 80 employees.
FINANCIAL HIGHLIGHTS
Financial highlights provided by outside sources are given below :
Currency :
Year
Ending 31/12/05: Year
Ending 31/12/006:
Total Revenue UAE
Dh 31,780,000 UAE Dh
32,500,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
Citibank
Bur
PO Box : 749
Tel : (971-4) 2522100
Fax : (971-4) 2524942
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in 2001, subject is owned and managed by Mr Subhash Dudani
who is well respected in the local business community.
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.
Maximum suggested credit figure: US$ 500,000
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)