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Report No. : |
348024 |
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Report Date : |
10.11.2015 |
IDENTIFICATION DETAILS
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Name : |
UNIKAI INTERNATIONAL PJSC |
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Registered Office : |
United Kaipara Dairies Co Building, Sheikh Zayed Road, Al Quoz
Industrial Area, PO Box 6424, Dubai |
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Country : |
United
Arab Emirates |
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Date of Incorporation : |
13.08.1989 |
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Com. Reg. No.: |
18197 |
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Legal Form : |
Public Joint Stock Company |
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Line of Business : |
Engaged in the import and distribution of frozen foods, vegetables,
meat, poultry, cakes and chilled items, cheese, butter, margarine and pastries
also dry food products, rice, olives, edible oils, instant milk, jams,
pickles, tea and tinned foods. |
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|
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No. of Employees : |
700 |
RATING & COMMENTS
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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 – 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 |
|
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 :
UNIKAI INTERNATIONAL PJSC
Country of Origin :
Dubai, United Arab Emirates
Legal Form :
Public Joint Stock Company
Registration Date :
13th August 1989
Commercial Registration Number :
18197, Dubai
Trade Licence Number :
220559
Chamber Membership Number :
16858
Issued Capital :
UAE Dh 30,250,000
Paid up Capital :
UAE Dh 30,250,000
Total Workforce :
700
Activities :
Distributors of frozen, chilled and dried foods.
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed :
Zahid Moosa, Public Relations Officer
UNIKAI INTERNATIONAL PJSC
Registered &
Physical Address
Building : United
Kaipara Dairies Co Building
Street : Sheikh Zayed
Road
Area : Al Quoz
Industrial Area
PO Box : 6424
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 3382133
Facsimile : (971-4)
3383099 / 3392518
Mobile : (971-55) 4132185
Email : info@unikai.com
Premises
Subject operates from a large suite of offices and a warehouse that are
owned and located in the Industrial Area of Dubai.
Name Position
Niraj Vora Chief
Executive Officer
Jihad Braka Finance
Manager
C Koshal Business
Development Manager
Zahid Moosa Public
Relations Officer
Mohamed Ali Human
Resources Executive
Date of Establishment : 13th August
1989
Legal Form : Public Joint Stock
Company
Commercial Reg. No. : 18197, Dubai
Trade Licence No. : 220559 (Expires
12/08/2017)
Chamber Member No. : 16858
Issued Capital : UAE Dh 30,250,000
Paid up Capital : UAE Dh 30,250,000
Name of Shareholder
(s) Percentage
Unikai Foods PJSC (Kaipara Dairies Co PSC) 100%
PO Box : 6424
Dubai
Tel : (971-4) 3382133
Fax : (971-4) 3383099
Unikai & Co LLC
Muscat
Oman
Activities: Engaged in the import and distribution of frozen foods, vegetables,
meat, poultry, cakes and chilled items, cheese, butter, margarine and pastries
also dry food products, rice, olives, edible oils, instant milk, jams, pickles,
tea and tinned foods.
Import Countries: Europe and the Far East.
Subject has a workforce of approximately 700 employees.
Companies registered in Dubai, 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.
Union National Bank
Baniyas Street
PO Box : 6811
Dubai
Tel : (971-4) 2211188
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.66.34 |
|
|
1 |
Rs.100.03 |
|
Euro |
1 |
Rs.71.45 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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|
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
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.