|
Report Date : |
11.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
AL RAWABI DAIRY CO LLC |
|
|
|
|
Registered Office : |
Plot No. 436B, Al
Khawaneej Road, Deira, P O Box 50368, Dubai |
|
|
|
|
Country : |
United Arab Emirates |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
30.03.1993 |
|
|
|
|
Com. Reg. No.: |
16060, Dubai |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
manufacturing and processing of dairy products, including
milk, cream and yoghurt as well as the production of fruit juices under its
brand name of Al Rawabi. |
|
|
|
|
No. of Employees : |
450 |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
United Arab
Emirates |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
United Arab Emirates ECONOMIC OVERVIEW
The UAE has an
open economy with a high per capita income and a sizable annual trade surplus. Successful
efforts at economic diversification have reduced the portion of GDP based on
oil and gas output to 25%. Since the discovery of oil in the UAE more than 30
years ago, the country has undergone a profound transformation from an
impoverished region of small desert principalities to a modern state with a
high standard of living. The government has increased spending on job creation
and infrastructure expansion and is opening up utilities to greater private
sector involvement. In April 2004, the UAE signed a Trade and Investment
Framework Agreement with Washington and in November 2004 agreed to undertake
negotiations toward a Free Trade Agreement with the US; however, those talks
have not moved forward. The country's Free Trade Zones - offering 100% foreign
ownership and zero taxes - are helping to attract foreign investors. The global
financial crisis, tight international credit, and deflated asset prices
constricted the economy in 2009. UAE authorities tried to blunt the crisis by
increasing spending and boosting liquidity in the banking sector. The crisis
hit Dubai hardest, as it was heavily exposed to depressed real estate prices.
Dubai lacked sufficient cash to meet its debt obligations, prompting global
concern about its solvency. The UAE Central Bank and Abu Dhabi-based banks
bought the largest shares. In December 2009 Dubai received an additional $10
billion loan from the emirate of Abu Dhabi. Dependence on oil, a large
expatriate workforce, and growing inflation pressures are significant long-term
challenges. The UAE's strategic plan for the next few years focuses on
diversification and creating more opportunities for nationals through improved
education and increased private sector employment.
|
Source : CIA |
Company Name : AL RAWABI DAIRY CO LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 30th March 1993
Commercial Registration Number : 16060, Dubai
Trade Licence Number : 300364
Chamber Membership Number : 26774
Issued Capital : UAE Dh 35,000,000
Paid up Capital : UAE Dh 35,000,000
Total Workforce : 450
Activities : Manufacture and processing of dairy products.
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : K P H Iyer, Finance Manager
AL RAWABI DAIRY CO
LLC
Registered &
Physical Address
Location : Plot No. 436B
Street : Al Khawaneej Road
Area : Deira
PO Box : 50368
Town :
Dubai
Country : United Arab Emirates
Telephone : (971-4) 2892123
Facsimile : (971-4) 2892494 / 2892950
Email : alrawabi@emirates.net.ae / sales@alrawabi.ae
Premises
Subject operates
from a large suite of offices and a factory that are owned and located in the
Industrial Area of Dubai.
Name Nationality Position
·
Saeed
Juma Al Naboodah Emirati Chairman
·
Sultan
Ali Al Owais Emirati Vice
Chairman
·
Flanner
Ray Emirati Chief
Executive
·
Dr
Ahmed Al Tijani - General
Manager
·
Dr
Abdullah Al Sheikh - Production
Manager
·
K P H
Iyer - Finance
Manager
Date of Establishment : 30th
March 1993
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 16060, Dubai
Trade Licence No. : 300364
Chamber Member No. : 26774
Issued Capital : UAE Dh 35,000,000
Paid up Capital : UAE Dh 35,000,000
Name of Shareholder
(s) Percentage
·
Arab
Authority for Agricultural Investment & Development (AAAID) 33%
PO Box: 2102
Khartoum
Sudan
Tel: (249-11) 780777
Fax: (249-11) 772600
Email: aaaidsd@sudanmail.net
·
Gulf
Investment Corporation 25%
PO Box: 3402
Safat 13035
Kuwait
Tel: (965) 22225000
Fax: (965) 22448894
Email : gic@gic.com.kw
·
Government
of Dubai
14%
Dubai
United Arab Emirates
·
Saeed
Juma Al Naboodah
14%
·
Sultan
Ali Al Owais 14%
Activities: Engaged in the manufacture and processing
of dairy products, including milk, cream and yoghurt.
Subject also
produces fruit juices.
Subject has a herd
of approximately 10,000 cows.
Import
Countries: Europe, the Far
East and the United States of America.
Export
Countries: Oman and Qatar
Brand Names: AL RAWABI
Operating Trend: Steady
Subject has a
workforce of approximately 450 employees.
Financial highlights
provided by local sources are given below:
Currency: United
Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/11: Year
Ending 31/12/12:
Total Revenue UAE Dh 418,890,932 UAE Dh 423,461,904
Local sources
consider subject’s financial condition to be Good.
The above figures
were provided by Mr K P H Iyer, Finance Manager
·
Emirates
National Bank of Dubai
Baniyas Street
PO Box: 777
Dubai
Tel:
(971-4) 2222241
No complaints regarding
subject’s payments have been reported.
Established in
1993, subject is involved in the manufacture and processing of dairy products,
including milk, cream and yoghurt as well as the production of fruit juices
under its brand name of Al Rawabi.
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.21 |
|
UK Pound |
1 |
Rs.100.65 |
|
Euro |
1 |
Rs.84.15 |
INFORMATION DETAILS
|
Report
Prepared by : |
MNL |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.