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Report Date : |
22.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
AL MAWRID
PRINTING & ADVERTISING INDUSTRY LLC |
|
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Registered Office : |
Industrial Area No. 15, 1888 Sharjah |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
19.09.1976 |
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Legal Form : |
Limited Liability
Company – LLC |
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Line of Business : |
Providers of
printing and advertising services |
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 |
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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 |
|
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 MAWRID PRINTING
& ADVERTISING INDUSTRY LLC
Country of Origin : Sharjah,
United Arab Emirates
Legal Form :
Limited Liability Company – LLC
Registration Date : 19th
September 1976
Trade Licence
Number : 3874
Chamber Membership
Number : 2747
Issued Capital : UAE Dh
300,000
Paid up Capital : UAE Dh
300,000
Total Workforce : 250
Activities :
Providers of printing and advertising services
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
AL MAWRID PRINTING
& ADVERTISING INDUSTRY LLC
Location : Industrial Area No. 15
PO Box : 1888
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 5346465 / 5314789 / 5313171
Facsimile : (971-6) 5348586 / 5314455
Email : info@almawrid.ae / almawrid@emirates.net.ae
Subject operates from
a large suite of offices that are rented and located in the Industrial Area of
Sharjah.
Name Nationality Position
·
Varghese
Thomas Varghese Indian Managing
Director
·
Fardiay
Thomas John Indian Director
·
Saif
Ibrahim Hamd Al Mutawa Emirati Director
Date of Establishment : 19th
September 1976
Legal Form :
Limited Liability Company –
LLC
Trade Licence No. : 3874
Chamber Member No. : 2747
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
·
Saif
Ibrahim Hamd Al Mutawa 51%
·
Varghese
Thomas Varghese ]
] 49%
·
Fardiay
Thomas John ]
Activities: Engaged in the provision of printing and
advertising services.
Subject has a
workforce of approximately 250 employees.
Companies
registered in Sharjah, United Arab Emirates are not legally required to make
their accounts public and no financial information was released by the company or
submitted by outside sources.
·
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.54 |
|
|
1 |
Rs.101.08 |
|
Euro |
1 |
Rs.83.38 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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 |
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.