MIRA INFORM REPORT
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Report Date : |
28.03.2012 |
IDENTIFICATION DETAILS
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Name : |
BEST PACKAGING FZE |
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Registered Office : |
Plot No. K21,
Hamriyah Free Zone, |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
28.02.1999 |
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Legal Form : |
Free Zone Establishment |
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Line of Business : |
Printing, lamination, import and distribution of packaging materials. |
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No. of Employees
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15 |
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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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 |
Company Name : BEST PACKAGING FZE
Country of Origin :
Legal Form : Free Zone Establishment - FZE
Registration Date : 28th February 1999
Trade Licence Number : 26
Chamber Membership Number : 800003
Issued Capital : UAE Dh 550,500
Paid up Capital : UAE Dh 550,500
Total Workforce : 15
Activities : Printing, lamination, import and distribution of packaging materials.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
Person Interviewed : Shah Nawaz, Administration Manager
BEST PACKAGING FZE
Registered &
Physical Address
Location : Plot No. K21
Area : Hamriyah Free Zone
PO Box : 41544
Town : Sharjah
Country :
Telephone : (971-6) 5263313 / 5263323
Facsimile : (971-6) 5263303
Email : manul@bestpkg.com
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Hamriyah Free Zone Area of Sharjah.
Name Nationality Position
·
Mowia
Mohamed Ahmed El Berir Sudanese Managing
Director
·
Imran
Sabih - General
Manager
·
Amin
Pirani - Finance
Manager
·
Shah
Nawaz - Administration
Manager
Date of Establishment : 28th
February 1999
Legal Form :
Free Zone Establishment -
FZE
Trade Licence No. : 26
(Expires 27/02/2013)
Chamber Member No. : 800003
Issued Capital : UAE Dh 550,500
Paid up Capital : UAE Dh 550,500
Name of Shareholder
(s) Percentage
·
Mowia
Mohamed Ahmed El Berir 100%
·
Maowia
Elberier Group
Activities: Engaged in the printing, lamination, import
and distribution of packaging materials.
Subject’s product portfolio
includes high quality Roto Gravure printed BOPP, PET, PVC, Paper and PE
films. Subject offers printed monolayer
film and laminates of desired specifications for all sorts of
packaging requirements for
food & beverage industry, home & personal care products
Import
Countries:
International
Suppliers :
·
Roxcel
Operating Trend: Steady
Subject has a
workforce of 15 employees.
Financial
highlights provided by local sources are given below:
Currency:
Year Ending 31/12/10: Year Ending 31/12/11:
Total Sales UAE Dh
14,110,000 UAE Dh
14,500,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Mashreq
Bank
Sharjah
Tel: (971-6) 5351366 / 5354873
Fax: (971-6) 5372903
·
National
Bank of Sharjah
PO Box: 4
Sharjah
Tel: (971-6) 5547747
No complaints
regarding subject’s payments have been reported.
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 |
|
US Dollar |
1 |
Rs.50.91 |
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|
1 |
Rs.81.27 |
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Euro |
1 |
Rs.67.99 |
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.