MIRA INFORM REPORT

 

 

Report Date :

18.10.2007

 

IDENTIFICATION DETAILS

 

Name :

AL AIN NATIONAL JUICE & REFRESHMENTS CO (ANJ)

 

 

Registered Office :

Industrial Area, P O Box 15937, Al Ain

 

 

Country :

United Arab Emirates

 

 

Date of Incorporation :

30th June 1985

 

 

Com. Reg. No.:

5740, Al Ain

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Engaged in the production of fruit juices, refreshment beverages, ice creams, vinegar and tomato ketchup.

 

 

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

 

Maximum Credit Limit :

US$ 400,000

 

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

SUMMARY

 

Company Name                         : AL AIN NATIONAL JUICE & REFRESHMENTS CO (ANJ)

Country of Origin                                    : Al Ain, United Arab Emirates

Legal Form                                            : Limited Liability Company

Registration Date                                   : 30th June 1985

Commercial Registration Number            : 5740, Al Ain

Trade Licence Number                            : 8925

Membership Number                              : 2138

Issued Capital                                        : UAE Dh 8,000,000

Paid up Capital                                      : UAE Dh 8,000,000

Total Workforce                                     : 600

Line of Business                                    : Producers of fruit juice, beverages, ice cream, vinegar and tomato

                                                              ketchup.

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

 

 

 

COMPANY NAME

 

AL AIN NATIONAL JUICE & REFRESHMENTS CO (ANJ)

 

 

ADDRESS

 

Registered & Physical Address

 

Location            : Industrial Area

PO Box             : 15937

Town                 : Al Ain

Country             : United Arab Emirates

Telephone         : (971-3) 7216555

Facsimile          : (971-3) 7216555

Email                : ayoung@iffco.com

 

 

Premises

 

Subject operates from a large suite of offices and a factory that are owned and located in the Industrial Area of Al Ain.

 

 

Branch Office (s)

 

     Location                                                                               Description

 

·       Dubai                                                                                   Sales Office

Tel : (971-4) 3392939

Fax : (971-4) 3392949

 

·       Sharjah                                                                                Sales Office

Tel : (971-6) 5029000

       Fax : (971-6) 5029189

 

 

KEY PRINCIPALS

 

·       Juma Al Hamili                                                                      Managing Director

 

·       Adam Young                                                             General Manager

 

·       Mansour R C Wala                                                                Plant Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 30th June 1985

 

Legal Form                  : Limited Liability Company

 

Commercial Reg. No.  : 5740, Al Ain

 

Trade Licence No.       : 8925

 

Membership No.          : 2138

 

Issued Capital              : UAE Dh 8,000,000

 

Paid up Capital            : UAE Dh 8,000,000

 

 

Name of Shareholder (s)         Percentage

 

·       Juma Al Hamili                                                                                  51%

 

·       Delmon Products Ltd                                                                         49%

United Kingdom

 

 

AFFILIATED COMPANIES

 

Subject is a member of the IFFCO Group of Companies, which consists of the following concerns :

 

·       IFFCO Limited

PO Box : 4115

Sharjah

     United Arab Emirates

     Tel : (971-6) 5334969

     Fax : (971-6) 5333180

     Email : iffco@iffco.com

 

·       Emirates Industrial & Trading Co Ltd (EITCO)

     Sharjah Port

     PO Box : 4115 / 6906

     Sharjah

     United Arab Emirates

     Tel : (971-6) 5334696

     Fax : (971-6) 5333180

 

·       Emirates Refining Co Ltd (ERCO)

PO Box : 4115

Sharjah

United Arab Emirates

Tel : (971-6) 5357966

 

·       Intergulf Services Ltd

     PO Box : 6131

     Sharjah

     United Arab Emirates

     Tel : (971-6) 281391

 

·       Emirates Grain Products Co Ltd

     PO Box : 4115

     Sharjah

     United Arab Emirates

     Tel : (971-6) 357966

 

·       Tiffany Foods Ltd

     PO Box : 4115

     Sharjah

     United Arab Emirates

     Tel : (971-6) 365195

 

·       Allana International Ltd

Jebel Ali Free Zone

PO Box : 16787

Dubai

United Arab Emirates

Tel : (971-4) 816120

 

·       Delmon Products Ltd

Jebel Ali Free Zone

PO Box : 16787

Dubai

United Arab Emirates

Tel : (971-4) 816504

 

·       Seville Products Ltd (LLC)

Al Ramool Industrial Area

PO Box : 10596

Dubai

United Arab Emirates

Tel : (971-4) 850066

Fax : (971-4) 850066 / 855724

 

·       International Packaging Co LLC

PO Box : 2990

New Industrial Area

Ajman

United Arab Emirates

Tel : (971-6) 7436814

Fax : (971-6) 7435503

 

·       Gateway Chemicals LLC

PO Box : 10596

Dubai

United Arab Emirates

Tel : (971-4) 3386116

Fax : (971-4) 3384416

 

·       IFFCO Egypt SAE

Street 262, Villa 10B

New Maadi

Cairo

Egypt

Tel : (20-2) 7545841 / 7545842 / 7545843 / 7545847

Fax : (20-2) 5164554

 

·       Civil Product Ltd

Dubai

       United Arab Emirates

     Tel : (971-4) 2850066

 

·       Unipex Dairy Products Co Ltd

     Sharjah Industrial Area No. 2

PO Box : 5646 & 77

Sharjah

Tel : (971-6) 5337864 / 5326339 / 5321146 / 5337434

Fax : (971-6) 5336312

Email : unipex@emirates.net.ae

 

·       Dubai Meat Packers Ltd

 

 

LINE OF BUSINESS

 

Operations : Engaged in the production of fruit juices, refreshment beverages, ice creams, vinegar and tomato ketchup.

 

Import Countries : Germany, Italy and the United Kingdom.

 

Brand Names : ALAIN, TIFFANY and HAYAT.

 

Subject has a workforce of approximately 600 employees.

 

 

FINANCIAL HIGHLIGHTS

 

Companies registered in Al Ain, 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

 

·       Middle East Bank

PO Box : 15095

Al Ain

Tel : (971-3) 7642885

       Fax : (971-3) 7644883

 

·       Union National Bank

Sheikh Khalifa Street

Al Ain

       Tel : (971-3) 7644551

       Fax : (971-3) 7655527

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

Opinion on the credit figure of US$ 150,000:

 

Established in 1985, subject is involved in the production of fruit juices, refreshment beverages, ice creams, vinegar and tomato ketchup under the brand names Alain, Tiffany and Hayat.

 

Local sources report that payment obligations are met in a generally timely manner and the operating history is clear. As such the company is deemed a fair trade risk and the above credit figure is considered to be within subject’s financial means.

 

Maximum suggested credit figure: US$ 400,000

 

 

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.

 

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

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

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%)

 

 

 

 

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