MIRA
INFORM REPORT
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Report Date : |
26.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
UNITED PRINTING & PUBLISHING |
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Registered Office : |
4th
Street Sector 18, Zone 1, PO Box39955, Abu
Dhabi |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
03.04.2006 |
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Com. Reg. No.: |
65600, Abu Dhabi |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Commercial
Printing Press |
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$ 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : UNITED PRINTING & PUBLISHING
Also Known As : UNITED PRINTING PRESS
Country of Origin : Abu Dhabi, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 3rd April 2006
Commercial Registration Number : 65600, Abu Dhabi
Trade Licence Number : 94132
Chamber Membership Number : 140612
Issued Capital : UAE Dh 20,000,000
Paid up Capital : UAE Dh 20,000,000
Total Workforce : 150
Activities : Subject operates a commercial printing press
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 150,000
COMPANY NAME
UNITED
PRINTING & PUBLISHING
ALSO KNOWN AS: UNITED PRINTING PRESS
ADDRESS
Registered & Physical Address
Location : 4th Street Sector 18,
Zone 1
PO Box : 39955
Town : Abu Dhabi
Country : United Arab Emirates
Telephone : (971-2) 4144141
/ 4144044
Facsimile : (971-2) 4144001
Email : mary.ann@upp.ae
Premises
Subject operates
from a medium sized suite of offices and a printing press that are rented and
located in the Industrial Area of Abu Dhabi.
KEY PRINCIPALS
Name Position
·
Ali
Saif Al Neami General
Manager
·
Sarangan
Mohan Operations
Manager
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Pradeep
Lakshman Dhule Dhule Technical
Manager
·
Mary
Ann Administration
Manager
·
Aly
Ramadan Finance
Manager
LEGAL FORM & OWNERS
Date of Establishment : 3rd
April 2006
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 65600, Abu Dhabi
Trade Licence No. : 94132 (Expires 12/04/2009)
Chamber Member No. : 140612
Issued Capital : UAE Dh 20,000,000
Paid up Capital : UAE Dh 20,000,000
Name of Shareholder (s) Percentage
·
Emirates
Middle East Partner 60%
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Abu
Dhabi Media Co 40%
OPERATIONS
Activities: Subject operates a commercial printing
press. Clients include Al Ittihad Newspaper,
Zahrat Al Khaleej
Magazine, Super Sports Magazine, Majid Kids Magazine, Sharq
Al Awsat Newspaper, & the Ministry of Education.
Import
Countries: Italy, Austria,
India and the United States of America
Subject has a
workforce of approximately 150 employees.
FINANCIAL DATA
Companies
registered in Abu Dhabi, 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
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Abu
Dhabi Commercial Bank
Hamdan Street
PO Box : 2832
Abu Dhabi
Tel : (971-2) 6335820
Fax : (971-2) 6340680
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.46.43 |
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UK Pound |
1 |
Rs.85.38 |
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Euro |
1 |
Rs.67.95 |
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%)