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Report Date : |
15.01.2014 |
IDENTIFICATION DETAILS
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Name : |
MAJAN PRINTING & PACKAGING CO LLC |
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Registered Office : |
Al Jazeera Al Hamrah Street, PO Box : 6353, Ras Al Khaimah |
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Country : |
United Arab Emirates |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
17.04.1995 |
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Com. Reg. No.: |
12290, RAK |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Subject is engaged in the manufacture and printing of
folding cartons, as well as 3-ply printed corrugated cartons, labels on self adhesive
paper in reel and sheet form, paper leaflets, paper cups, paper plates and
calendars. |
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No. of Employees : |
400 |
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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Status : |
Good |
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Payment Behaviour : |
Regular |
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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) |
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United Arab Emirates |
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 |
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.
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Source
: CIA |
Company Name : MAJAN PRINTING & PACKAGING CO
LLC
Country of Origin :
Ras Al Khaimah, United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date :
17th April 1995
Commercial Registration Number :
12290, RAK
Trade Licence Number :
275
Issued Capital :
UAE Dh 34,500,000
Paid up Capital :
UAE Dh 34,500,000
Total Workforce :
400
Activities :
Manufacturers and printers of folding cartons
Financial Condition :
Good
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed :
Mrs Aysha Ashraf, General Manager
MAJAN PRINTING
& PACKAGING CO LLC
Registered &
Physical Address
Location : Al Jazeera Al
Hamrah Street
PO Box : 6353
Town : Ras Al
Khaimah
Country : United Arab
Emirates
Telephone : (971-7) 2446363
Facsimile : (971-7)
2446777
Mobile : (971-50)
6274184 / 4875711
Email : info@majan.com
Premises
Subject operates from a suite of offices and a factory covering 102,000
square metres that are rented and located in the Industrial Area of Ras Al
Khaimah.
Name Position
Sheikh Mohamed Bin Saud Al Qassimi Chairman
Abdullah Yousef Al Abdullah Managing
Director
Khalid Abdullah Yousef Al Abdullah Director
Mrs Aysha Ashraf General
Manager
Soma Shekaran Financial
Manager
Akamal Hanafi Marketing
Manager
Date of Establishment : 17th April 1995
Legal Form : Limited Liability
Company - LLC
Commercial Reg. No. : 12290, RAK
Trade Licence No. : 275
Issued Capital : UAE Dh 34,500,000
Paid up Capital : UAE Dh 34,500,000
Name of
Shareholder (s)
Sheikh Mohamed Bin Saud Al Qassimi
Abdullah Yousef Al Abdullah
Khalid Abdullah Yousef Al Abdullah
Sheikh Faisal Bin Saqr Al Qassimi
Sheikh Ahmed Bin Saqr Al Qassimi
Sheikh Omar Bin Saqr Al Qassimi
Sheikh Jamal Bin Saqr Al Qassimi
Sheikha Fatim Bint Saqr Al Qassimi
Sheikha Mona Bint Saqr Al Qassimi
Sheikha Hessa Bint Saqr Al Qassimi
Sheikha Asma Bint Saqr Al Qassimi
Sheikha Noura Bint Saqr Al Qassimi
Fahim Abdullah Yousef Al Abdullah
Yousef Abdullah Yousef Al Abdullah
Adnan Abdullah Yousef Al Abdullah
Marwan Ahmed Al Ghurair
Ahmed Issa Al Nuaimi
Gulf Pharmaceutical Industries
RAK Real Estate Co
RAK Poultry & Feed Co
Activities: Engaged in the manufacture
and printing of folding cartons, as well as 3-ply printed corrugated cartons,
labels on self adhesive paper in reel and sheet form, paper leaflets, paper
cups, paper plates and calendars.
Import Countries: Europe
and the Far East.
Operating Trend: Steady
Subject has a workforce of approximately 400 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 182,500,000 UAE Dh
183,000,000
Local sources consider subject’s financial condition to be Good.
The above figures were provided by Mrs Aysha Ashraf, General Manager
National Bank of Ras Al Khaimah
NBRAK Building
PO Box: 5300
Ras Al Khaimah
Tel: (971-7) 2221127
Fax: (971-7) 2224202
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 |
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Euro |
1 |
Rs.84.11 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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.