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Report Date : |
14.01.2014 |
IDENTIFICATION DETAILS
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Name : |
EXPRESS PRINTING SERVICES LLC |
|
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Registered Office : |
Express Printing Services Building, Street No. 4, Al Ramool Industrial
Area, Rashidiyah, PO Box : 10263, Dubai |
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|
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Country : |
United Arab Emirates |
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|
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
11.07.1978 |
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Com. Reg. No.: |
157, Dubai |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Subject is engaged in the printing of display boxes, labels, stickers,
brochures, books, folders, calendars, magazines, posters and directories. |
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|
|
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No. of Employees : |
175 |
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 |
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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, 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 : EXPRESS PRINTING SERVICES LLC
Country of Origin :
Dubai, United Arab Emirates
Legal Form :
Limited Liability Company – LLC
Registration Date :
11th July 1978
Commercial Registration Number :
157, Dubai
Trade Licence Number :
300401
Chamber Membership Number :
4636
Issued Capital :
UAE Dh 500,000
Paid up Capital :
UAE Dh 500,000
Total Workforce :
175
Activities :
Printing services
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
EXPRESS PRINTING
SERVICES LLC
Registered &
Physical Address
Building : Express
Printing Services Building
Street : Street No. 4
Area : Al Ramool
Industrial Area, Rashidiyah
PO Box : 10263
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 2857209
Facsimile : (971-4)
2858084
Email : epsllc@emirates.net.ae
Premises
Subject operates from a suite of offices and a factory covering an area
of 3,500 square metres that are owned and located in the Industrial Area of
Dubai.
Name Nationality Position
Abdul Kader Tharuvat Indian Managing
Director
Maylanchikkal Abdullah Zubair Indian Director
Yousuf Ahmed Yousuf Khoory Emirati Director
Abdullah Subail - General
Manager
Mohamed Ziaudeen - Finance
Manager
Mathew Tait - Accounts
Manager
Javed Iqbal - Printing
Manager
Hazem Zaki Abdu - Public
Relations Manager
Gilbert Brendan - Technical
Manager
Ashkar Ali - Sales
Manager
Fahd Mahshoor - Human
Resources Manager
Date of Establishment : 11th July 1978
Legal Form : Limited Liability
Company – LLC
Commercial Reg. No. : 157, Dubai
Trade Licence No. : 300401 (Expires 22/04/2014)
Chamber Member No. : 4636
Issued Capital : UAE Dh 500,000
Paid up Capital : UAE Dh 500,000
Name of
Shareholder (s) Percentage
Yousuf Ahmed Yousuf Khoory 51%
Abdul Kader Tharuvat 25%
Maylanchikkal Abdullah Zubair 24%
Subject is a member of the Express Group of Companies, which comprises
the following concerns:
Express Flexi Pack
Plot No. 25
PO Box: 16797
Jebel Ali Free Zone
Dubai
Tel: (971-4) 8819990
Fax: (971-4) 8819723
Express Print (Publishers) LLC
Al Kazim Building
Al Garhoud Area
PO Box: 10263
Dubai
Tel: (971-4) 8822777
Fax: (971-4) 8821855
Email: epp@emirates.net.ae
Express Pack Print
PO Box: 16797
Jebel Ali Free Zone
Dubai
Tel: (971-4) 8816147
Fax: (971-4) 8815745
Abdul Kader Mohamed & Co (A & A Company)
PO Box: 441
Dubai
Tel: (971-4) 8857209
Fax: (971-4) 8858084
Abdul Qadir Mohamed General Trading Co LLC
PO Box: 441
Dubai
Tel: (971-4) 2854964
Fax: (971-4) 2858990
Express Print (Publishers) LLC
PO Box: 10263
Dubai
Tel: (971-4) 2859494
Fax: (971-4) 2844373
Express Pack Print
PO Box: 16797
Dubai
Tel: (971-4) 8819990
Fax: (971-4) 8819723
Express Flexi Pack
PO Box: 16797
Dubai
Tel: (971-4) 8819990
Fax: (971-4) 8819723
Express Engineering
PO Box: 16797
Dubai
Al Wasl Water Purification
PO Box: 21162
Dubai
Tel: (971-4) 3380665
Fax: (971-4) 3380594
Park Lane Publishers Ltd
PO Box: 10263
Dubai
Tel: (971-4) 4280622
Fax : (971-4) 2844373
Express International FZCO
PO Box: 16797
Dubai
Tel: (971-4) 8819990
Fax: (971-4) 8815745
Express Paper FZCO
PO Box: 16797
Dubai
Tel: (971-4) 8819990
Fax: (971-4) 8815745
Activities: Engaged in the
printing of display boxes, labels, stickers, brochures, books, folders,
calendars, magazines, posters and directories.
Subject is the sole distributor for Kompass in the United Arab Emirates.
Import Countries : Far
East, the United States of America, Germany, Brazil and South Africa.
Export Countries : Europe,
India, Yemen and GCC members.
Brand Names : EPS
Operating Trend : Steady
Subject has a workforce of approximately 175 employees.
Financial highlights provided by local sources are given below:
Currency: United Arab Emirates Dirham (UAE Dh)
Year Ending 31/12/12: Year Ending 31/12/13:
Total Sales UAE
Dh 93,600,000 UAE Dh
95,000,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
Standard Chartered Bank
Khalid Bin Waleed Street
PO Box: 999
Dubai
Tel: (971-4) 2520455
National Bank of Fujairah
PO Box 2979
Dubai
Tel: (971-4) 3971700 / 5078300
Fax: (971-4) 3979100 / 3973922
HSBC Bank Middle East
Deira Souk Branch
PO Box: 66
Dubai
Tel: (971-4) 2535000
Bank of Baroda
PO Box: 3162
Dubai
Tel: (971-4) 5531955
Fax: (971-4) 5536962
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.52 |
|
|
1 |
Rs.101.48 |
|
Euro |
1 |
Rs.84.11 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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.