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Report No. : |
356474 |
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Report Date : |
25.12.2015 |
IDENTIFICATION DETAILS
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Name : |
AL AIN FOOD &
BEVERAGES PJSC |
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Registered Office : |
Al Ain Mineral
Water Building, Khatem Al Shakla Street, P O Box: 16020, Al Ain |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
13.10.2004 |
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Com. Reg. No.: |
185127 |
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Legal Form : |
Private Joint Stock Company |
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Line of Business : |
· Subject is engaged in the production and packaging of mineral water. ·
Subject is also engaged in the processing and
packaging of vegetables and tomato puree. |
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No. of Employees : |
1,200 |
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 : |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
United Arab
Emirates |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
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. The country's free
trade zones - offering 100% foreign ownership and zero taxes - are helping to
attract foreign investors. The global financial crisis of 2008, 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
and ultimately a $20 billion bailout from the UAE Central Bank and Abu
Dhabi-emirate government that was refinanced in March 2014. 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 economic diversification and creating more job opportunities for nationals
through improved education and increased private sector employment.
|
Source
: CIA |
Company Name : AL AIN
FOOD & BEVERAGES PJSC
Country of Origin : Dubai,
United Arab Emirates
Legal Form :
Private Joint Stock Company
Registration Date : 13th
October 2004
Commercial
Registration Number : 185127
Trade Licence
Number : 1002095
Chamber Membership
Number : 105991
Issued Capital : UAE Dh
10,000,000
Paid up Capital : UAE Dh
10,000,000
Total Workforce : 1,200
Activities :
Producers and packagers of mineral water.
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
AL AIN FOOD &
BEVERAGES PJSC
Building : Al Ain Mineral Water Building
Street : Khatem Al Shakla Street
PO Box : 16020
Town : Al Ain
Country : United Arab Emirates
Telephone : (971-3) 7686500 / 7083757 / 7687102 /
7083700 / 7083788 / 7083707
Facsimile : (971-3) 7686515 / 7372588
Email : hosam.azeem@agthia.com / ahmed.hakim@agthia.com
Subject operates
from a large suite of offices and a factory that are rented and located in the
Industrial Area of Al Ain.
Branch Offices
Location Description
·
Sky Tower Office
premises
Reem Island
Abu Dhabi
Tel: (971-2)
5960600
Fax: (971-2)
6926070
·
Branch
3, Al Wathba, Al Mafraq Office
premises
Al Wathba North P11
Abu Dhabi
Name Position
·
Fasahat
Beg General
Manager
·
Elias
Kapichlion Chief
Executive Officer
·
Hamza
Iqbal Chief
Financial Officer
·
Ahmed
Anwar Finance
Manager
·
Julie
Toroug Sales
Manager
·
Salman
Wasqi Procurement
Manager
·
Shadik
Tayel Quality
Control Manager
Date of Establishment : 13th
October 2004
Legal Form :
Private Joint Stock Company
Commercial
Reg. No. : 185127
Trade Licence No. : 1002095
Chamber Member No. : 105991
Issued Capital : UAE Dh 10,000,000
Paid up Capital : UAE Dh 10,000,000
·
Agthia
Group PJSC 100%
Sky Tower, 17th Floor
Reem Island
PO Box: 37725
Abu Dhabi
Tel: (971-2) 4455221 / 4146444 / 5960600
Fax: (971-2) 4463644 / 6726070
·
Grand
Mills Company PJSC
United Arab Emirates
·
Al Ain
Food and Beverages LLC
Egypt
Activities: Engaged in the production and packaging of
mineral water.
Subject is also engaged in the processing and packaging of vegetables
and tomato puree.
Import
Countries: Europe and GCC
countries
Subject has a
workforce of approximately 1,200 employees.
Companies
registered in Al Ain, 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.
·
Abu Dhabi
Commercial Bank
PO Box: 15180
Al Ain
Tel: (971-3) 7660000
Fax: (971-3) 7511455
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.66.20 |
|
|
1 |
Rs.98.30 |
|
Euro |
1 |
Rs.72.41 |
|
UAE Dh |
1 |
Rs.17.95 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
NIT |
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 |
-- |
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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.