MIRA INFORM REPORT

 

 

Report Date :

13.01.2011

 

IDENTIFICATION DETAILS

 

Name :

GIFFIN GRAPHICS CO LLC

 

 

Registered Office :

Ali Bin Khalfan Al Dhahiri Building Baniyas Street PO Box 955 Abu Dhabi

 

 

Country :

United Arab Emirates

 

 

Financials (as on) :

31.12.2009

 

 

Date of Incorporation :

12.02.1980

 

 

Com. Reg. No.:

17761, Abu Dhabi

 

 

Legal Form :

Limited Liability Company - LLC

 

 

Line of Business :

Suppliers of pre-press, printing and graphic supplies

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

US$ 750,000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

NOTES :

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – June 30, 2010

 

Country Name

Previous Rating

(01.04.2010)

Current Rating

(30.06.2010)

UAE

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

SUMMARY

 

Company Name                         : GIFFIN GRAPHICS CO LLC

Country of Origin                                    : Abu Dhabi, United Arab Emirates

Legal Form                                            : Limited Liability Company - LLC

Registration Date                                   : 12th February 1980

Commercial Registration Number            : 17761, Abu Dhabi

Trade Licence Number                            : 1029149

Chamber Membership Number                : 5218

Issued Capital                                        : UAE Dh 20,000,000

Paid up Capital                                      : UAE Dh 20,000,000

Total Workforce                                     : 90

Activities                                               : Suppliers of pre-press, printing and graphic supplies

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                         : Steady

Recommended Credit Limit                     : US$ 750,000

 

 

 

COMPANY NAME

 

GIFFIN GRAPHICS CO LLC

 

 

ADDRESS

 

Registered & Physical Address

 

Building             : Ali Bin Khalfan Al Dhahiri Building

Street               : Baniyas Street

 

PO Box             : 955

 

Town                 : Abu Dhabi

Country             : United Arab Emirates

 

Telephone         : (971-2) 6730555 / 6343196

Facsimile          : (971-2) 6733550

Email                : info@giffingraphics.com

 

Premises

 

Subject operates from a medium sized suite of offices, a warehouse and a showroom that are rented and located in the Central Business Area of Abu Dhabi.

 

Branch Office (s)

 

     Location                                                                                           Description

 

·       Mina Zayid Free Zone, Plot No. 155                                                    Rented warehouse

Abu Dhabi

 

·       Al Wahda Street                                                                               Rented Sales Office

Sharjah

     Tel: (971-6) 5325151

     Fax: (971-6) 5326006

 

 

KEY PRINCIPALS

 

     Name                                                           Nationality                     Position

 

·       Mrs Ramzeh Kattili Nicholas                          Lebanese                      Managing Director

 

·       Sultan Bin Rashed Al Dhahiri                           Emirati                        Director

 

·       Mohamed Al Dhahiri                                        Emirati                        General Manager

 

·       T.B. Hussain                                                        -                            Assistant General Manager

 

·       T.I Ninan                                                              -                            Finance Manager

 

·       Vijay Pillai                                                           -                            Administration Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 12th February 1980

 

Legal Form                  : Limited Liability Company - LLC

 

Commercial Reg. No.  : 17761, Abu Dhabi

 

Trade Licence No.       : 1029149

 

Chamber Member No. : 5218

 

Issued Capital              : UAE Dh 20,000,000

 

Paid up Capital            : UAE Dh 20,000,000

 

Name of Shareholder (s)                                     Percentage

 

·       Sultan Bin Rashed Al Dhahiri                                          51%

 

·       Mrs Ramzeh Kattili Nicholas                                           49%

 

 

AFFILIATED COMPANIES

 

·       Giffin Graphics

     Al Nakheel Tower

     Baniyas Street

     PO Box: 955

     Abu Dhabi

     Tel: (971-2) 6730555 / 6343196

     Fax: (971-2) 6733550 / 6328091

     Email: kteily@emirates.net.ae

     Commercial Reg. No. 5378, Sharjah

 

·       Giffin Traffiks

Tourist Club Area

PO Box: 3417

Abu Dhabi

Tel: (971-2) 6725166

Fax: (971-2) 6781168

 

·       Giffin Establishment

Abu Dhabi

United Arab Emirates

Distributors of gas and oilfield supplies.

 

·       Giffin Byte Co LLC

Abu Dhabi

United Arab Emirates

 

·       Giffin Establishment

Muscat

     Oman

     Tel: (968) 7715873

     Fax: (968) 7715869

 

·       Giffin Graphics

Bahrain

     Tel: (973-17) 723272

     Fax: (973-17) 723727

 

·       Giffin Graphics Co WLL

Gate No. 83

Street No. 36

Industrial Area

PO Box: 24008

Doha

     Qatar

     Tel: (974) 44501255 / 44501265 / 55857021

Fax: (974) 44501266

 

·       Giffin Graphic Supply Est

Saudi Arabia

 

 

OPERATIONS

 

Activities: Subject has emerged as one of the leading suppliers in the field of pre-press, printing and graphic supplies  in the UAE. It specialises in the import and distribution of scanners, direct imaging equipment, web presses, printing and colour separation equipment, screen printing supplies, printing inks, chemicals for graphic printing arts, print finishing and book binding machines.

 

Import Countries: United Kingdom, Germany, Switzerland, France, Italy and Japan.

 

International Suppliers:

 

·       Rollem UK                            United Kingdom

·       OYO Instruments                  United Kingdom

·       Caslon Limited                      United Kingdom

·       Sihl Bern AG                        Switzerland

·       Fimor SAS                           France

·       Durst Phototechnik AG          Italy

 

Brand Names: AGFA

 

Operating Trend: Steady

 

Subject has a workforce of 90 employees.

 

 

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: United Arab Emirates Dirham (UAE Dh)

 

                                                Year Ending 31/12/08:                Year Ending 31/12/09:

 

Total Sales                                UAE Dh 32,600,000                   UAE Dh 33,050,000

 

Local sources consider subject’s financial condition to be Fair.

 

The above financial figures are based on estimations by our local sources.

 

 

BANKERS

 

·       Abu Dhabi Commercial Bank

Abu Dhabi Commercial Bank Building

Al Salam Street

PO Box: 939

Abu Dhabi

Tel: (971-2) 6962222 / 6962222

Fax: (971-2) 6776499 / 6776499

 

·       National Bank of Abu Dhabi

Sheikh Khalifa Street

PO Box: 4

Abu Dhabi

Tel: (971-2) 6345777 / 6327113 / 6335262

Fax: (971-2) 6336078

 

·       ABN Amro Bank

Al Obaidly Tower

Istiqlal Street

PO Box: 2720

Abu Dhabi

Tel: (971-2) 6335400

Fax: (971-2) 6330182

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

Date of transaction                  December 2002            December 2004            December 2007

Credit amount                            362,000             346,000             150,000

Amount overdue             0                                  0                                  0

Payment terms                          120 days                       180 days                       90 days

Payment Method                       Letters of Credit             Letters of Credit             Letters of Credit

Paying record                            No Complaints               No Complaints               No Complaints

Currency                                   US Dollars                     US Dollars                     US Dollars

 

 

GENERAL COMMENTS

 

Giffin Graphics Co LLC has emerged as one of the leading suppliers in the field of pre-press, printing and graphic supplies in the UAE. It has operations dating back to 1980 and deals with a number of reputable international suppliers.

 

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.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.16

UK Pound

1

Rs.70.64

Euro

1

Rs.58.68

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

--

NB

                                       New Business

 

--

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.