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Report Date : |
15.01.2014 |
IDENTIFICATION DETAILS
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Name : |
MEDAD PRINTING & PACKAGING |
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Registered Office : |
Airport Road, Industrial Area No. 12, PO Box : 41336, Sharjah |
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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 : |
10.06.1988 |
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Com. Reg. No.: |
32166, Sharjah |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Subject is engaged in the operation of a printing press
and providers of book binding, printing and packaging services. |
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No. of Employees : |
168 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
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 : |
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 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 |
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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 |
|
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 :
MEDAD PRINTING & PACKAGING
Country of Origin :
Sharjah, United Arab Emirates
Legal Form :
Sole Proprietorship
Registration Date :
10th June 1988
Commercial Registration Number :
32166, Sharjah
Trade Licence Number :
3938
Chamber Membership Number :
42265
Invested Capital : UAE Dh 25,000,000
Total Workforce :
168
Activities :
Operation of a printing press and providers of book binding, printing and
packaging services.
Financial Condition :
Good
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
MEDAD PRINTING
& PACKAGING
Registered &
Physical Address
Street : Airport Road
Area : Industrial
Area No. 12
PO Box : 41336
Town : Sharjah
Country : United Arab
Emirates
Telephone : (971-6) 5340640
Facsimile : (971-6)
5340722
Email : medadpp@emirates.net.ae
/ info@medadprinting.com
/ ahmad@medad.ae
Premises
Subject operates from a large suite of offices and a printing press that
are owned and located in the Industrial Area of Sharjah.
Name Position
Sheikh Sultan Mohamed Sultan Al Qassimi Proprietor
Peter Torstensson General
Manager
Ahmad Hassan Finance
Manager
Kevin Thomson Plant
Manager
Suhail Ahmed Supply
Chain Manager
Date of Establishment : 10th June 1988
Legal Form : Sole
Proprietorship
Commercial Reg. No. : 32166, Sharjah
Trade Licence No. : 3938
Chamber Member No. : 42265
Invested Capital : UAE Dh 25,000,000
Sheikh Sultan Mohamed Sultan Al Qassimi is the sole proprietor of the
business.
Modern Pharmaceutical Company
Gulf International
Arabian Gulf Mechanical Centre
Autostar Trading
Global Food Industries
International Beverage & Filling Industries
Best Harvest & Malila Trading
GECO Mechanical & Electrical
GECO Engineering
GECO Chemical Company
TECON
Geoscope
GIPCO
Vienna Trading
OTB MPC
Ditra
Scitra
Abiat Oleo Industries
Super General Trading
E City General Trading
Al Batha Real Estate
Al Abir Engineering Consulting
Tawazun Construction
Wesgreen International School
Activities: Engaged in the operation of
a printing press and providers of book binding, printing and packaging
services.
Import Countries: Europe
and the United States of America
Operating Trend: Steady
Subject has a workforce of approximately 168 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 69,320,000 UAE Dh
70,875,000
Local sources consider subject’s financial condition to be Good.
National Bank of Sharjah
Al Boorj Avenue
PO Box: 4
Sharjah
Tel: (971-6) 5547747
No complaints regarding subject’s payments have been reported.
Date of transaction June
2005
Credit amount 101,000
Amount overdue 0
Payment terms 60 days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency Pounds
Sterling
Established in 1988, subject is owned and managed by Sheikh Sultan
Mohamed Sultan Al Qassimi who is well respected in the local business
community.
Local sources report that payment obligations are met in a generally
timely manner and the operating history is clear. As such the business is
deemed 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 |
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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 |
|
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.