MIRA
INFORM REPORT
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Report Date : |
25.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
ORIENTAL PRESS |
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Registered Office : |
Sheikh Zayed
Road, Jebel Ali Free Zone, PO Box
16916, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
15.11.1994 |
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Legal Form : |
Free Zone Company |
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Line of Business : |
Printing and Binding Services |
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$ 200,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : ORIENTAL PRESS
Country of Origin : Dubai, United Arab Emirates
Legal Form : Free Zone Company
Registration Date : 15th November 1994
Trade Licence Number : 918
Chamber Membership Number : 32470
Issued Capital : UAE Dh 3,000,000
Paid up Capital : UAE Dh 3,000,000
Total Workforce : 150
Activities : Printing and binding services
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 200,000
COMPANY NAME
ORIENTAL PRESS
ADDRESS
Registered & Physical Address
Street : Sheikh Zayed Road
Area : Jebel Ali Free Zone
PO Box : 16916
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 8811100
Facsimile : (971-4) 8811333
Email : opbook@emirates.net.ae
Premises
Subject operates
from a large suite of offices, warehousing and a workshop that are rented and
located in the Jebel Ali Free Zone, Dubai.
KEY PRINCIPALS
Name Nationality Position
·
Abdul Majeed
Essa Abdul Nabi Bahraini Managing Director
·
Mohamed Akram
Essa Abdul Nabi Al Zeera Bahraini Director
LEGAL FORM & OWNERS
Date of Establishment : 15th
November 1994
Legal Form :
Free Zone Company
Trade Licence No. : 918 (Expires
14/08/2009)
Chamber Member No. : 32470
Issued Capital : UAE Dh 3,000,000
Paid up Capital : UAE Dh 3,000,000
Name of Shareholder (s)
·
Abdul Majeed
Essa Abdul Nabi
·
Mohamed Akram
Essa Abdul Nabi Al Zeera
·
Oriental
Printing Group WLL
Bahrain
OPERATIONS
Activities: Engaged in the production
of colour books with hard cover and soft covers, magazines, computer
stationery, packaging, promotional brochures, annual
reports, greeting cards, calendars, etc. Subject also offers security printing
such as postage and revenue stamps, cheques, share certificates, airline
tickets and many other security products.
Import
Countries: India and Europe
Subject has a
workforce of approximately 150 employees.
FINANCIAL DATA
Companies
registered in Dubai, 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
·
The Standard
Chartered Bank
Jebel Ali Free Zone
PO Box : 999
Dubai
Tel : (971-4) 8856600
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.46.25 |
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UK Pound |
1 |
Rs.85.92 |
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Euro |
1 |
Rs.68.11 |
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%)