MIRA
INFORM REPORT
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Report Date : |
27.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
AL AMER PACKAGING INDUSTRIES LLC |
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Registered Office : |
Plot No. 392B,
Sheikh Zayed Road, Al Quoz Industrial Area, PO Box 54104, Dubai |
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Country : |
United Arab Emirates |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
06.04.1999 |
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Com. Reg. No.: |
52572, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Manufacture of Packaging Materials, Paper Plates and
Dishes |
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$ 175,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : AL AMER PACKAGING INDUSTRIES LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 6th April 1999
Commercial Registration Number : 52572, Dubai
Trade Licence Number : 510976
Chamber Membership Number : 53786
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 26
Activities : Manufacture of packaging materials, paper plates and dishes
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 175,000
COMPANY NAME
AL AMER PACKAGING
INDUSTRIES LLC
ADDRESS
Registered & Physical Address
Location : Plot No. 392B
Street : Sheikh Zayed Road
Area : Al Quoz Industrial Area
PO Box : 54104
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3475815
Facsimile : (971-4) 3475821
Email : amarbibi@emirates.net.ae
Premises
Subject operates from
a medium sized suite of offices and a factory that are rented and located in
the Industrial Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
·
Amer Anis Bibi Lebanese Managing Director
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Mohanad
Mohamed Adnan Al Jabi Syrian Director
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Muwaffak Anis
Bibi Lebanese Director
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Oussama Anis
Bibi Lebanese Director
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Ahmed Ali
Murad Mohamed Al Taher Emirati Director
LEGAL FORM & OWNERS
Date of Establishment : 6th
April 1999
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 52572, Dubai
Trade Licence No. : 510976
(Expires 20/03/2009)
Chamber Member No. : 53786
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
·
Ahmed Ali
Murad Mohamed Al Taher 51.00%
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Amer Anis Bibi 13.67%
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Oussama Anis
Bibi 13.67%
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Muwaffak Anis
Bibi 13.67%
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Mohanad
Mohamed Adnan Al Jabi 7.99%
OPERATIONS
Activities: Engaged in the manufacture of packaging
materials, paper plates and dishes.
Import Countries: Lebanon, Syria and Saudi Arabia
Operating Trend: Steady
Subject has a
workforce of 26 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency: United
Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/06: Year
Ending 31/12/07:
Total Sales UAE Dh
12,800,000 UAE Dh
14,500,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
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National Bank
of Dubai
Baniyas Street
PO Box : 777
Dubai
Tel
: (971-4) 2222241
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in
1999, subject is owned and managed by a group of Lebanese and Syrian businessmen
who operate in Dubai under the local sponsorship of Mr Ahmed Ali Murad Mohamed
Al Taher.
As far as payment
obligations are concerned, nothing detrimental has been heard regarding the
manner in which they are conducted and local informants report that subject is
considered to be a fair trade risk. As such the above credit figure is deemed
admissible.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.73 |
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UK Pound |
1 |
Rs.80.57 |
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Euro |
1 |
Rs.64.29 |
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. |
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%)