MIRA
INFORM REPORT
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Report Date : |
02.02.2012 |
IDENTIFICATION DETAILS
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Name : |
MANZOOR FOOD INDUSTRIES LLC |
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Registered Office : |
Industrial Area No. 15 PO Box 24561 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 : |
11.02.1995 |
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Com. Reg. No.: |
36533, Sharjah |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Grinders and repackaging of spices. |
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No. of Employees : |
35 |
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 |
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 30, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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UAE |
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 : MANZOOR FOOD INDUSTRIES LLC
Country of Origin : Sharjah, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 11th February 1995
Commercial Registration Number : 36533, Sharjah
Trade Licence Number : 217925
Chamber Membership Number : 35970
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 35
Activities : Grinders and repackaging of spices.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
Person Interviewed : Mostansir Mahmoud, Sales Manager
COMPANY NAME
MANZOOR FOOD INDUSTRIES LLC
ADDRESS
Registered & Physical Address
Location : Industrial
Area No. 15
PO Box : 24561
Town : Sharjah
Country : United Arab
Emirates
Telephone : (971-6) 5342162
Facsimile : (971-6)
5341972
Email : mandhoor7@emirates.net.ae
Premises
Subject operates from a medium sized suite of offices and a warehouse
that are rented and located in the Industrial Area of Sharjah.
Branch Office (s)
Location Description
·
Al Ras Area Factory
premises
PO Box: 36917
Dubai
Tel: (971-4) 2295001
Fax: (971-4) 2295852
KEY PRINCIPALS
Name Nationality Position
· Abdul Majid Habib
Jafar Ali Emirati Managing Director
· Tawfiq Abdul
Rahman Qassim Saudi Director
· Safiq Ahmed Haji Pakistani Director
· Shakil Ahmed Haji Pakistani Director
· Amir Hamza Safiq
Ahmed Haji - General
Manager
· Mostansir Mahmoud - Sales
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 11th
February 1995
Legal Form : Limited Liability
Company - LLC
Commercial Reg. No. : 36533
Trade Licence No. : 217925 (Expires 10/02/2013)
Chamber Member No. : 35970
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
· Abdul Majid Habib
Jafar Ali 51%
· Tawfiq Abdul Rahman
Qassim 24%
· Shakil Ahmed Haji 13%
· Safiq Ahmed Haji 12%
AFFILIATED COMPANIES
· Manzoor General
Trading LLC
PO Box: 36917
Dubai
Tel: (971-4)
2295001
Fax: (971-4)
2295852
OPERATIONS
Activities: Engaged in the grinding of spices
and repackaging for consumers.
Import Countries: Europe and the Far East.
Operating Trend: Steady
Subject has a workforce of 35 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 16,790,000 UAE Dh
17,000,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
BANKERS
·
Habib Bank Ltd
Murshid Bazaar
PO Box: 888
Dubai
Tel: (971-4)
2221281
Fax: (971-4)
2284631
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.53 |
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|
1 |
Rs.77.95 |
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Euro |
1 |
Rs.64.66 |
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 |
-- |
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.