|
Report No. : |
343372 |
|
Report Date : |
06.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
MALAK STATIONERY LLC |
|
|
|
|
Registered Office : |
Sayed Bin Thani Building, Ground Floor, Sikkat Al Khayal Street,
Murshid Bazaar, Deira, PO Box 36056, Dubai |
|
|
|
|
Country : |
United
Arab Emirates |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
10.11.1998 |
|
|
|
|
Com. Reg. No.: |
53995 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Engaged in the import and distribution of school stationery, office
products and writing instruments. |
|
|
|
|
No. of Employees : |
15 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
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 |
|
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. 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 :
MALAK STATIONERY LLC
Country of Origin :
Dubai, United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date :
10th November 1998
Commercial Registration Number :
53995, Dubai
Trade Licence Number :
508711
Chamber Membership Number :
52395
Issued Capital :
UAE Dh 300,000
Paid up Capital :
UAE Dh 300,000
Total Workforce : 15
Activities :
Distributors of school stationery, office products and writing instruments
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Hiren Misheri, Sales Executive
MALAK STATIONERY LLC
Registered &
Physical Address
Building :
Sayed Bin Thani Building, Ground Floor
Street : Sikkat Al
Khayal Street
Area : Murshid
Bazaar, Deira
PO Box : 36056
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2261251
Facsimile : (971-4)
2261252
Mobile : (971-50)
4522752
Email : malaksty@emirates.net.ae
Premises
Subject operates from a small suite of offices and a showroom that are
rented and located in the Central Business Area of Dubai.
Branch Office (s)
Location Description
Nasser Square Office
premises
Deira
Dubai
Tel: (971-4) 2233130
Fax: (971-4) 2232126
Name Nationality Position
Mishiri Nilash Kumar Shanti Lal Indian Managing
Director
Jamal Ali Bakhit Al Bagh Emirati Director
Sam Xveir - Accountant
Hiren Misheri - Sales
Executive
Date of Establishment : 10th
November 1998
Legal Form : Limited Liability
Company - LLC
Commercial Reg. No. : 53995, Dubai
Trade Licence No. : 508711 (Expires 09/11/2015)
Chamber Member No. : 52395
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of
Shareholder (s) Percentage
Jamal Ali Bakhit Al Bagh 51%
Mishiri Nilash Kumar Shanti Lal 49%
Malak Furnitures Co LLC
Dubai
Tel: (971-4) 2354763
Fax: (971-4) 2354764
Activities: Engaged in the import and distribution of school stationery, office
products and writing instruments.
Import Countries: Indonesia, Malaysia, India and China.
International
Suppliers:
April Fine Paper Industries Indonesia
A P P Indonesia
Asian Files Malaysia
Omega Paper Tray India
Kores India
Master Plus China
Brand Names: CASIO, SONY,
PARKER, JOSON, HP, CANON, PRINCO, OMEGA, ALBA and KORES
Operating Trend: Steady
Subject has a workforce of 15 employees.
Financial highlights provided by local sources are given below:
Currency: United Arab Emirates Dirham (UAE Dh)
Year Ending 31/12/14:
Total Sales UAE
Dh 50,000,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Mr Hiren Misheri, Sales Executive
Mashreq Bank Plc
Deira Branch
PO Box: 1250
Dubai
Tel: (971-4) 2229131 / 2221134
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.65.29 |
|
|
1 |
Rs.99.31 |
|
Euro |
1 |
Rs.73.39 |
INFORMATION DETAILS
|
Analysis Done by
: |
HEE |
|
|
|
|
Report Prepared
by : |
TPT |
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.