MIRA
INFORM REPORT
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Report Date : |
15.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
EIFFEL PRINTING PRESS LLC |
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Registered Office : |
Industrial Area
No. 17, PO Box 7040, Sharjah |
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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 : |
26.10. 1991 |
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Com. Reg. No.: |
21757, Sharjah |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Commercial Printers |
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$ 350,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : EIFFEL PRINTING PRESS LLC
Country of Origin : Sharjah, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 26th October 1991
Commercial Registration Number : 21757, Sharjah
Trade Licence Number : 114534
Chamber Membership Number : 27834
Issued Capital : UAE Dh 400,000
Paid up Capital : UAE Dh 400,000
Total Workforce : 85
Activities : Commercial printers
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 350,000
COMPANY NAME
EIFFEL PRINTING
PRESS LLC
ADDRESS
Registered & Physical Address
Location : Industrial Area No. 17
PO Box : 7040
Town : Sharjah: United Arab Emirates
Telephone : (971-6) 5347177
Facsimile : (971-6) 5347753
Email : eiffelpp@emirates.net.ae
Premises
Subject operates
from a medium sized suite of offices and a printing press that are owned and
located in the Industrial Area of Sharjah.
KEY PRINCIPALS
Name Nationality Position
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Hashim
Ali Redha Emirati Managing
Director
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Thomas
Kurian Iykara Indian Director
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Kurian
Thomas Indian Director
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Vint
Thomas Indian General
Manager
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M.
Promod - Finance
Manager
LEGAL FORM & OWNERS
Date of Establishment : 26th
October 1991
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 21757, Sharjah
Trade Licence No. : 114534 (Expires 23/10/2008)
Chamber Member No. : 27834
Issued Capital : UAE Dh 400,000
Paid up Capital : UAE Dh 400,000
Name of Shareholder (s) Percentage
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Hashim
Ali Redha 51%
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Kurian
Thomas 25%
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Thomas
Kurian Iykara 24%
OPERATIONS
Activities: Engage as
commercial printers, specialising in business cards, letter heads, gift tags,
invoices and
brochures.
Clients include
Air Arabia & Emirates Airlines.
Import
Countries: India, Belgium
and Germany.
Operating Trend: Steady
Subject has a
workforce of 85 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
17,300,000 UAE Dh
18,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures were confirmed by Mr Vint Thomas,
General Manager.
BANKERS
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Habib Bank Ltd
Trade Service Centre
Murshid Bazaar
PO Box : 888
Dubai
Tel : (971-4) 2221281
Fax : (971-4) 2284631
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.
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%)