|
Report No. : |
301587 |
|
Report Date : |
07.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
AL BUHEIRA LACNOR
DAIRIES CO LTD |
|
|
|
|
Registered Office : |
Green Belt Stree Sharjah Industrial Area No. 4 5983Sharjah |
|
|
|
|
Country : |
United Arab
Emirates |
|
|
|
|
Date of Incorporation : |
25.01.1978 |
|
|
|
|
Legal Form : |
Limited Liability
Company |
|
|
|
|
Line of Business : |
Production and
Marketing of Dairy Products as well as Fruit Juices and Drinks. |
|
|
|
|
No. of Employee : |
650 |
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
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 BUHEIRA LACNOR DAIRIES CO LTD
Country of Origin : Sharjah,
United Arab Emirates
Legal Form : Limited
Liability Company
Registration Date : 25th
January 1978
Commercial
Registration Number : 2742, Sharjah
Trade Licence
Number : 10358
Chamber Membership
Number : 4054
Issued Capital : UAE Dh
2,000,000
Paid up Capital : UAE Dh
2,000,000
Total Workforce : 650
Activities :
Production and marketing of dairy products as well as fruit juices and drinks
Financial Condition : Good
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Dennis Mathew,
Finance Manager
AL BUHEIRA LACNOR DAIRIES CO LTD
Street : Green Belt Street
Area : Sharjah Industrial Area No. 4
PO Box : 5983
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 5331551
Facsimile : (971-6) 5336102 / 5394109
Email : lacnor@emirates.net.ae / aneel.kumar@nfpc.net / dennis.mathew@nfpc.net
Subject operates
from a large suite of offices, a factory and distribution facilities that are
owned and located in the Industrial Area of Sharjah.
Branch Office
(s)
Location Description
·
Mussafah
Industrial Area, M1 Distribution
centre
Abu Dhabi
Tel: (971-2) 5582808
·
Ajman Distribution
centre
·
Al Ain Distribution
centre
·
Dubai Distribution
centre
Tel: (971-4) 8845588
Fax: (971-4)
8845566
Name Nationality Position
·
Fady
Gargas Antonious Lebanese Managing
Director
·
Farag
Ali Bin Hamoodah Emirati Director
·
M K
Pardeep - Accountant
·
Azmi
Yagi - Administration
Manager
·
Fleming
Brikmos - Factory
Manager
·
Dennis
Mathew - Finance
Manager
Date of Establishment : 25th
January 1978
Legal Form :
Limited Liability Company
Commercial Reg. No. : 2742,
Sharjah
Trade Licence No. : 10358
Chamber Member No. : 4054
Issued Capital : UAE Dh 2,000,000
Paid up Capital : UAE Dh 2,000,000
·
Farag
Ali Bin Hamoodah 51%
·
Fady
Gargas Antonious 49%
·
Bin
Hamoodah Trading & General Services Co (Bin Hamoodah Automotive)
Bin Hamoodah Building
Old Airport Road
PO Box: 203
Abu Dhabi
Tel: (971-2) 4448888
Fax: (971-2) 4449073
·
Alpha
Data LLC
Alpha Data Megastore
Airport Road
PO Box: 45384
Abu Dhabi
Tel: (971-2) 6333644
Fax: (971-2) 6211924 / 6392192
Email: vijay@alpha.co.ae
·
Gulf
Automation Services & Oil Field Supplies (GASCO)
·
National
Food Products
·
Sahara
Transport & Contracting Co
·
Tareef
Trading Co
·
Howard
Al Geemi & Partners
Activities: Engaged in the production and marketing of
dairy products as well as fruit juices and drinks.
Import
Countries: Germany, the
United Kingdom and Australia.
Brand Names: BUHEIRA LACNOR
Operating Trend: Steady
Subject has a
workforce of approximately 650 employees.
Financial
highlights provided by local sources are given below:
Currency: United
Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/13: Year Ending
31/12/14:
Total Revenue UAE Dh 350,000,000 UAE Dh 400,000,000
Local sources
consider subject’s financial condition to be Good.
The above figures
were provided by Mr Dennis Mathew, Finance Manager
·
National
Bank of Abu Dhabi
Al Hajar Street
Al Quoz Area
PO Box: 282227
Dubai
Tel: (971-4) 4050940
Fax: (971-4) 3285094
·
National
Bank of Sharjah
Al Boorj Avenue
PO Box: 4
Sharjah
Tel: (971-6) 5547747
·
Arab
Bank Plc
PO Box: 130
Sharjah
Tel: (971-6) 5353994
No complaints
regarding subject’s payments have been reported.
Credit amount 250,000 150,000
Amount overdue 0 0
Payment terms 90
days 60
days
Payment Method Letters
of Credit Letters
of Credit
Paying record No
Complaints No
Complaints
Currency Euros US
Dollars
Al Buheira Lacnor
Dairies Co Ltd is very well established in the local market with operations
dating back to 1978. It is engaged in the production and marketing of dairy
products as well as fruit juices and drinks, operating branches in Sharjah, Abu
Dhabi, Ajman and Al Ain.
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.63.38 |
|
|
1 |
Rs.96.72 |
|
Euro |
1 |
Rs.75.80 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
ANK |
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.