MIRA
INFORM REPORT
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Report Date : |
23.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
AL AIN DAIRY |
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Registered Office : |
Al Ain Dairy Farm
Building, Al Ain Dubai Road, PO Box
15571, Al Ain |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
22.02.1992 |
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Com. Reg. No.: |
9937, Al Ain |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Production of Milk, Yoghurt and
Dairy Products |
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$ 750,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : AL AIN DAIRY
Country of Origin : Al Ain, United Arab Emirates
Legal Form : Sole Proprietorship
Registration Date : 22nd February 1992
Commercial Registration Number : 9937, Al Ain
Trade Licence Number : 16207
Chamber Membership Number : 3761
Invested Capital : UAE Dh 27,594,688
Total Workforce : 700
Activities : Production of milk, yoghurt and dairy products
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 750,000
COMPANY NAME
AL AIN DAIRY
ADDRESS
Registered & Physical Address
Building : Al Ain Dairy Farm Building
Street : Al Ain Dubai Road
PO Box : 15571
Town : Al Ain
Country : United Arab Emirates
Telephone : (971-3) 7832111 / 7832929
Facsimile : (971-3) 7832535
Mobile : (971-50)
Email : dairyfarm@emirates.net.ae
Premises
Subject operates
from a large suite of offices that are owned and located on the outskirts of Al
Ain.
Branch Office (s)
Location Description
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Abu Dhabi Office
& warehouse premises
Tel: (971-2) 5516460
KEY PRINCIPALS
Name Position
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Mohamed
Saif Al Suwaidi Proprietor
·
Abdullah
Saif Al Darmaki General
Manager
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Rey
Walsh Operations
Manager
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Talal
Hamid Finance
Manager
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Mohamed
Al Ansari Purchasing
Manager
LEGAL FORM & OWNERS
Date of Establishment : 22nd
February 1992
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 9937, Al Ain
Trade Licence No. : 16207
Chamber Member No. : 3761
Invested Capital
: UAE Dh 27,594,688
Mr Mohamed Saif Al Suwaidi is the sole proprietor of
the business.
OPERATIONS
Activities: Subject operates three farms with
over 1000 milking cows and 230 camels specialising in the production of milk, yoghurt and
dairy products.
Import
Countries: India, France
and the United Kingdom
Subject has a
workforce of approximately 700 employees.
FINANCIAL DATA
Companies
registered in Al Ain are not legally required to make their accounts public and
no financial information was released by the company or submitted by outside
sources.
BANKERS
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Abu
Dhabi Commercial Bank
PO Box : 15180
Al Ain
Tel : (971-3) 7660000
Fax : (971-3) 7511455
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
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 and the above credit figure is
within subject’s financial means.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.41.96 |
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UK Pound |
1 |
Rs.83.78 |
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Euro |
1 |
Rs.65.82 |
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%)