MIRA INFORM REPORT

 

 

Report Date :

26.07.2012

 

IDENTIFICATION DETAILS

 

Name :

KANGAROO PLASTIC MIDDLE EAST LLC

 

 

Registered Office :

Jebel Ali Industrial Area No. 2 PO Box 50912 Dubai

 

 

Country :

United Arab Emirates

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

30.01.1977

 

 

Com. Reg. No.:

40056, Dubai

 

 

Legal Form :

Limited Liability Company - LLC

 

 

Line of Business :

Manufacture of plastic products.

 

 

No. of Employees :

190

 

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

 

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 – March 31st, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

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                                     : KANGAROO PLASTIC MIDDLE EAST LLC

Country of Origin                                    : Dubai, United Arab Emirates

Legal Form                                            : Limited Liability Company - LLC

Registration Date                                   : 30th January 1977

Commercial Registration Number            : 40056, Dubai

Trade Licence Number                            : 300184

Chamber Membership Number                : 2724

Issued Capital                                        : UAE Dh 400,000

Paid up Capital                                      : UAE Dh 400,000

Total Workforce                                     : 190

Activities                                               : Manufacture of plastic products.

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

 

COMPANY NAME

 

KANGAROO PLASTIC MIDDLE EAST LLC

 

 

ADDRESS

 

Registered & Physical Address

 

Location            : Jebel Ali Industrial Area No. 2

 

PO Box             : 50912

 

Town                 : Dubai

Country             : United Arab Emirates

 

Telephone         : (971-4) 8804700

Facsimile          : (971-4) 8804702

Email                : kangaroo@kangarooplastics.com / kangaroo@kangaroo.com

 

Premises

 

Subject operates from a medium sized suite of offices and a factory with storage facilities that are owned and located in the Industrial Area of Dubai.

 

Branch Office (s)

 

     Location                                                                                           Description

 

·       Abu Dhabi                                                                                        Rented sales office

Tel: (971-2) 6717292

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Saeed Abdulghaffar Ghuloom Hussain                                     Managing Director

 

·       Abdulghaffar Ghuloom Hussain                                                           Director

 

·       Nawal Abdulghaffar Ghuloom Hussain                                                 Director

 

·       Ghada Abdulghaffar Ghuloom Hussain                                                Director

 

·       Hend Abdulghaffar Ghuloom Hussain                                                  Director

 

·       Mohamed Abdulghaffar Ghuloom Hussain                                            Director

 

·       Rajev Patra                                                                                       General Manager

 

·       Suraish Siromari                                                                               Accounts Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 30th January 1977

 

Legal Form                  : Limited Liability Company - LLC

 

Commercial Reg. No.  : 40056, Dubai

 

Trade Licence No.       : 300184 (Expires 21st January 2013)

 

Chamber Member No. : 2724

 

Issued Capital              : UAE Dh 400,000

 

Paid up Capital            : UAE Dh 400,000

 

Name of Shareholder (s)                                           Percentage

 

·       Saeed Abdulghaffar Ghuloom Hussain                         12.5%

 

·       Abdulghaffar Ghuloom Hussain                                   12.5%

 

·       Nawal Abdulghaffar Ghuloom Hussain                         12.5%

 

·       Ghada Abdulghaffar Ghuloom Hussain                        12.5%

 

·       Hend Abdulghaffar Ghuloom Hussain                          12.5%

 

·       Mohamed Abdulghaffar Ghuloom Hussain                    12.5%

 

·       Heirs of Nabeel Abdulghaffar Ghuloom Hussain            12.5%

 

·       Al Anood Abdulrahman Mohamed                                  ]

               ]  12.5%

·       Sheikha Ahmed Ibrahim                                                ]

 

 

AFFILIATED COMPANIES

 

·       Hepworth P M E LLC

PO Box: 2345

Dubai

Tel: (971-4) 2894670

 

·       Green Coast Co

Dubai

 

·       Emirates Tech Pack

Dubai

 

 

OPERATIONS

 

Activities: Engaged in the manufacture polyethylene films for the construction industry, ductile iron sleeves, speciality films, pallet covers, courier bags, shopping bags, garbage bags, drum liners, pouches, vacuum pouches, sleeve labels packaging films or bags for snack food, frozen food, CPP bags, pharmaceutical grade paper and laminated film and aluminium foils.

 

Subject is ISO 9002 accredited.

 

Import Countries: Germany, Spain and the Far East

 

Export Countries: GCC countries, Africa, Asia and the United Kingdom

 

Operating Trend: Steady

 

Subject has a workforce of approximately 190 employees.

 

 

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: United Arab Emirates Dirham (UAE Dh)

 

                                                Year Ending 31/12/10:                Year Ending 31/12/11:

 

Total Sales                                UAE Dh 64,800,000                   UAE Dh 65,900,000

 

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

 

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

 

 

BANKERS

 

·       Emirates National Bank of Dubai

Baniyas Street

     PO Box: 777

     Dubai

     Tel: (971-4) 2222241

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

Local sources report that the subject’s operating history is clear with payment obligations met in a generally timely manner. The financial position is satisfactory and the company is deemed a fair trade risk.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.56.37

UK Pound

1

Rs.87.44

Euro

1

Rs.68.04

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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.