MIRA INFORM
REPORT
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Report Date : |
29.03.2011 |
IDENTIFICATION DETAILS
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Name : |
MEDAD PRINTING & PACKAGING |
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Registered Office : |
Airport Road, Industrial
Area No. 12, |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
10.06.1988 |
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Com. Reg. No.: |
32166, Sharjah |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Operation of a printing press and providers of book binding, printing and packaging 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$ 500,000 |
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Status : |
Satisfactory |
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Payment
Behaviour : |
No Complaints |
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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 – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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a2 |
a2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
SUMMARY
Company Name : MEDAD PRINTING & PACKAGING
Country of Origin :
Legal Form : Sole Proprietorship
Registration Date : 10th June 1988
Commercial Registration Number : 32166, Sharjah
Trade Licence Number : 3938
Chamber Membership Number : 42265
Invested Capital : UAE Dh 25,000,000
Total Workforce : 155
Activities : Operation of a printing press and providers of book binding, printing and
packaging services.
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 500,000
Person Interviewed : Mohamed Qassim Ali, Finance Manager
COMPANY NAME
MEDAD PRINTING & PACKAGING
company ADDRESS
Registered & Physical Address
Street :
Area : Industrial Area No. 12
PO Box : 41336
Town : Sharjah
Country :
Telephone : (971-6) 5340640
Facsimile : (971-6) 5340722
Email : medadpp@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 Position
·
Sheikh Sultan
Mohamed Sultan Al Qassimi Proprietor
·
Paul G
Robinson General
Manager
·
Neil Stacey Commercial
Manager
·
Mohamed Qassim Ali Finance
Manager
·
Kevin Thomson Plant
Manager
LEGAL FORM & OWNERS
Date of Establishment : 10th
June 1988
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 32166,
Sharjah
Trade Licence No. : 3938
(Expires 09/06/2011)
Chamber Member No. : 42265
Invested Capital
: UAE Dh 25,000,000
Sheikh Sultan Mohamed
Sultan Al Qassimi is the sole proprietor of the business.
OPERATIONS
Activities: Engaged in the operation of a printing
press and providers of book binding, printing and packaging
services.
Import
Countries: Europe and the
Operating Trend: Steady
Subject has a
workforce of approximately 155 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency:
Year
Ending 31/12/09: Year Ending
31/12/10:
Total Sales UAE Dh
61,195,205 UAE Dh
67,458,336
Local sources
consider subject’s financial condition to be Good.
The above figures
were provided by Mr Mohamed Qassim Ali, Finance Manager
BANKERS
·
National
Bank of Sharjah
PO Box: 4
Sharjah
Tel: (971-6) 5547747
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
Date of
transaction June
2005
Credit amount 101,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency Pounds
Sterling
GENERAL COMMENTS
Established in
1988, subject is owned and managed by Sheikh Sultan Mohamed Sultan Al Qassimi
who is well respected in the local business community.
Local sources
report that payment obligations are met in a generally timely manner and the
operating history is clear. As such the business is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.44.78 |
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|
1 |
Rs.71.64 |
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Euro |
1 |
Rs.62.96 |
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 |
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 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.