|
Report Date : |
06.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
ROTO PACKING
MATERIALS INDUSTRY CO LLC |
|
|
|
|
Registered Office : |
Sheikh Zayed
Road, Street No. 10, Plot No. 980, Al Quoz Industrial Area, 21993 Dubai |
|
|
|
|
Country : |
United Arab Emirates |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
30.06.1993 |
|
|
|
|
Com. Reg. No.: |
40888, Dubai |
|
|
|
|
Legal Form : |
Limited Liability
Company - LLC |
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|
|
|
Line of Business : |
Engaged in the
manufacture of various types of flexible packaging and duplex board packaging
materials using the Rotogravure and Offset printing processes |
|
|
|
|
No. of Employees |
250 |
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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
United Arab Emirates |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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 $10 billion loan
from the emirate of Abu Dhabi. Dependence on oil, a large expatriate workforce,
and growing inflation pressures are significant long-term challenges. The UAE's
strategic plan for the next few years focuses on diversification and creating
more opportunities for nationals through improved education and increased
private sector employment
|
Source
: CIA |
Company Name : ROTO PACKING
MATERIALS INDUSTRY CO LLC
Country of Origin : Dubai,
United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date : 30th
June 1993
Commercial
Registration Number : 40888,
Dubai
Trade Licence
Number : 300733
Chamber Membership
Number : 27664
Issued Capital : UAE Dh
300,000
Paid up Capital : UAE Dh
300,000
Total Workforce :
250
Activities :
Manufacture of various types of flexible packaging
and duplex board
packaging materials.
Financial Condition : Good
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
ARIC Credit Rating : A
Recommended Credit
Limit : US$ 1,000,000
Person Interviewed : Parvin
Sukaria, Financial Controller
ROTO PACKING MATERIALS
INDUSTRY CO LLC
Street : Sheikh Zayed Road, Street No.
10, Plot No. 980
Area : Al Quoz Industrial Area
PO Box : 21993
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3470399 / 3479817 / 3479816
Facsimile : (971-4) 3471775 / 3389357
Email : rotopack@emirates.net.ae
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
·
Pankaj
Kanksi Khimji Omani Managing
Director
·
Nilesh
Kanksi Khimji Omani Director
·
Mitesh
Niredaran Jamandaz Khimji Omani Director
·
Ajay
Mothradaz Khimji Omani Director
·
Anil
Mothradaz Khimji Omani Director
·
Kanks
Gokaldaz Khimji Omani Director
·
Rama
Krishnan Karaph - General
Manager
·
P R
Karanth - Chief
Financial Officer
·
Parvin
Sukaria - Financial
Controller
·
Dhanjia
Satwindakr - Finance
Manager
·
Mutazer
Tinwala - Sales
Manager
·
Sunil
Mishra - Human
Resources Manager
Date of Establishment : 30th
June 1993
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 40888, Dubai
Trade Licence No. : 300733
(Expires 18/05/2014)
Chamber Member No. : 27664
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
·
Pankaj
Kanksi Khimji
·
Nilesh
Kanksi Khimji
·
Mitesh
Niredaran Jamandaz Khimji
·
Ajay
Mothradaz Khimji
·
Anil
Mothradaz Khimji
·
Kanks
Gokaldaz Khimji
·
Khimji
Ramdas Co LLC
PO Box: 19
Muscat 113
Oman
Tel: (968) 24795901
Fax: (968) 24795988
·
Khimji
Ramdas Shipping LLC
Muscat
Oman
Activities: Engaged in the manufacture of various types
of flexible packaging and duplex board packaging materials using the
Rotogravure and Offset printing processes. The Company started
commercial production in July 1996.
Subject is ISO 9001:2008
accredited.
Import
Countries: United Kingdom,
Italy, Germany and Asia.
Operating Trend: Steady
Subject has a
workforce of approximately 250 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
146,317,000 UAE Dh
156,317,000
Local sources
consider subject’s financial condition to be Good.
The above figures were
provided by Mr Parvin Sukaria, Financial Controller
·
Emirates
National Bank of Dubai
Baniyas Street
PO Box: 777
Dubai
Tel: (971-4) 2222241
·
National
Bank of Fujairah
PO Box: 2979
Dubai
Tel: (971-4) 3971700 / 5078300
Fax: (971-4) 3979100 / 3973922
·
Standard
Chartered Bank
Khalid Bin Waleed Street
Mankhool Branch
PO Box: 999
Dubai
Tel: (971-4) 2520455
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.60.04 |
|
|
1 |
Rs.101.31 |
|
Euro |
1 |
Rs.83.34 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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 |
|
|
-- |
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.