MIRA INFORM REPORT
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Report Date : |
14.10.2011 |
IDENTIFICATION DETAILS
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Name : |
RECORDER PRINTING & PUBLISHING LLC |
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Registered Office : |
Al Wahda Street,
Industrial Area No. 13, P O Box 25281, Sharjah |
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Country : |
United Arab Emirates |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
18.02.1980 |
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Com. Reg. No.: |
4133, Sharjah |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Providers of printing 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$ 150,000 |
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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 – September 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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United Arab Emirates |
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 : RECORDER PRINTING & PUBLISHING LLC
Country of Origin : Sharjah, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 18th February 1980
Commercial Registration Number : 4133, Sharjah
Trade Licence Number : 3910
Chamber Membership Number : 6420
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 90
Activities : Providers of printing services.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
RECORDER PRINTING & PUBLISHING LLC
company ADDRESS
Registered &
Physical Address
Street : Al Wahda Street
Area : Industrial Area No. 13
PO Box : 25281
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 5340055
Facsimile : (971-6) 5343332 / 5331440
Mobile : (971-50) 6267115
Email : recorder@emirates.net.ae /
mail@recorder.ae
Premises
Subject operates
from a medium sized suite of offices and a factory that are rented and located
in the Industrial Area of Sharjah.
KEY PRINCIPALS
Name Nationality Position
·
Mathew
George Kuttiprayer Barar Indian Managing Director
·
Khalifa
Mohamed Saif Emirati Director
·
Sam
Michael - Commercial
Manager
·
M
Sudeep - Financial
Controller
·
Thomas
Abraham - Production
Manager
LEGAL FORM & OWNERS
Date of Establishment : 18th February
1980
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 4133, Sharjah
Trade Licence No. : 3910
(Expires 15/02/2012)
Chamber Member No. : 6420
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
·
Khalifa
Mohamed Saif 51%
·
Mathew
George Kuttiprayer Barar 49%
OPERATIONS
Activities: Engaged in the provision of printing
services, including labels,
stickers, magazines and books.
Import
Countries: Europe and the
Far East.
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 31/12/09: Year
Ending 31/12/10:
Total Sales UAE Dh
24,250,000 UAE Dh
25,600,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
National
Bank of Sharjah
PO Box: 4
Sharjah
Tel: (971-6) 5547747
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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.02 |
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UK Pound |
1 |
Rs.77.13 |
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Euro |
1 |
Rs.67.56 |
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 |
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NB |
New Business |
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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%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.