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Report No. : |
343203 |
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Report Date : |
02.10.2015 |
IDENTIFICATION DETAILS
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Name : |
MULTIFLEX MIDDLE EAST FZ LLC |
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Registered Office : |
Al Jazeera Al Hamra, PO Box 30931, Ras Al Khaimah |
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Country : |
United
Arab Emirates |
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Date of Incorporation : |
2011 |
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Legal Form : |
Free Zone Limited Liability Company |
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Line of Business : |
Engaged in the manufacture of printed laminated films, including BOPP
/ PET / LDPE / CPP / Nylon / Blister Foil / Alu Foil / Twist Wrapper / Paper
PE / Paper Foil / PVC Shrink sleeves. Subject provides surface or reverse
printed mono layer film and laminates of desired quality for all sorts of
packaging requirements of biscuits,
confectionery, chocolates, ice cream, snacks, pasta, instant fruit drinks,
milk powder, tomato paste and ketchup,
mayonnaise, date paste, tea, coffee, spices, pharmaceuticals, soap,
detergents, personal care products and bottle labels. |
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No. of Employees : |
20 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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) |
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United Arab Emirates |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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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 :
MULTIFLEX MIDDLE EAST FZ LLC
Country of Origin :
Dubai, United Arab Emirates
Legal Form :
Free Zone Limited Liability Company – FZ LLC
Registration Date :
2011
Trade Licence Number :
51FZ303113903, RAK
Issued Capital :
UAE Dh 150,000
Paid up Capital :
UAE Dh 150,000
Total Workforce :
20
Activities :
Manufacturers of printed laminated films
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed :
Hamid Ali, Production Manager
MULTIFLEX MIDDLE EAST FZ LLC
Registered &
Physical Address
Location : Al Jazeera Al
Hamra
PO Box : 30931
Town : Ras Al
Khaimah
Country : United Arab
Emirates
Telephone : (971-7) 2585317
/ 2437478
Facsimile : (971-7)
2437479
Email : hamid@multiflex.com
/ mmedubai@eim.ae
Premises
Subject operates from a suite of offices and a factory covering 1,500
square metres that are rented and located in the Industrial Area of Ras Al
Khaimah.
Name Nationality Position
Biju Paul Indian Managing
Director
Sanjeev Batra Indian Director
Surjeet Balakrishnan - Finance
Manager
Hamid Ali - Production
Manager
Date of Establishment : 2011
Legal Form : Free Zone Limited
Liability Company – FZ LLC
Trade Licence No. : 51FZ303113903,
RAK
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Name of Shareholder (s)
Biju Paul
Sanjeev Batra
Activities: Engaged in the manufacture of printed laminated films, including BOPP /
PET / LDPE / CPP / Nylon / Blister Foil / Alu Foil / Twist Wrapper / Paper PE /
Paper Foil / PVC Shrink sleeves. Subject provides surface or reverse printed
mono layer film and laminates of desired quality for all sorts of
packaging requirements of biscuits,
confectionery, chocolates, ice cream, snacks, pasta, instant fruit drinks,
milk powder, tomato paste and ketchup,
mayonnaise, date paste, tea, coffee, spices, pharmaceuticals, soap, detergents,
personal care products and bottle labels.
Subject has a workforce of 20 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.
National Bank of Ras Al Khaimah
NBRAK Building
PO Box: 5300
Ras Al Khaimah
Tel: (971-7) 2221127
Fax: (971-7) 2224202
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.65.55 |
|
|
1 |
Rs.99.17 |
|
Euro |
1 |
Rs.73.08 |
INFORMATION DETAILS
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Analysis Done by
: |
KAS |
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Report Prepared
by : |
TPT |
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.