General Info

SUBJECT
Date
Name In Local Script
Trading Names
Former Names
Status

CR Score

76.42

CREDIT RATING

Company Size
LARGE
Business Trend
DECLINING
Payments
COMPLAINTS RECORDED
Credit Rating
A
Maximum Credit
1500000.00 USD
2016
USD
160,000.00
2017
USD
200,000.00
2016
USD
100,000.00
2017
USD
250,000.00
China
United Kingdom of Great Britain and Northern Ireland (the)
India
Saudi Arabia
Oman
Egypt
Currency: AED-Standalone
Income Statement 2018/12/31 2017/12/31 2016/12/31 2015/12/31 2014/12/31
Operating Revenue / Turnover 1,857,739,000.00 1,982,764,000.00 1,806,878,000.00 1,552,824,000.00 1,549,023,000.00
Gross Profit 761,150,000.00 708,637,000.00 552,280,000.00 493,141,000.00 475,034,000.00
The Subject is a LARGE limited Liability Company which was started in 1998 by Indian and Saudi investor with their Local Sponsor. It is engaged in the manufacture, export, supply distribution and wholesale trade of foodstuff including dairy products, juices, ice cream as well as whole milk, flavored milk, butter milk, and yogurt. It generated a consolidated Annual Turnover of AED 1.8 billion (USD 505.7 million) with a Net Profit of AED 301.7 million (USD 82.1 million) in 2018.
The United Arab Emirates, UAE, is a federation of seven emirates (equivalent to principalities), each governed by a hereditary prince (emir) and all choose one from among them to be the president of the federation. The constituent emirates are Abu Dhabi (capital), Ajman, Dubai, Fujairah, Ras al-Khaimah, Sharjah, and Umm al-Quwain. The country includes around 35 free zones that are part of the country’s territories but considered to be outside the customs territory and subject to customs control other than normal customs procedures.

Barriers to trade are quite low, and regulations support open-market policies. With a favorable business climate and political stability, the UAE has created a dynamic entrepreneurial environment for international investors. The financial sector’s overall soundness has improved substantially since the Dubai debt crisis of 2009. .

The UAE Minister of State for Financial Affairs, His Excellency Obaid Humaid Al Tayer has declared that a new VAT law is applicable starting 1 January 2018 at the rate of 5% with some exceptions including basic food, healthcare and educational sectors.

UAE has the second-largest economy in the Arab world (after Saudi Arabia), with a real gross domestic product (GDP) of 3% in 2016 following a growth of 3.8% in 2015 and 3.3% in 2014 with a total population of more than 9.4 million.

The real non-oil GDP increased by 2.7% in 2016 compared to 3.2% in 2015. This slowdown is due to negative spillovers of the adverse oil-price shock. The cut in capital spending, subsidies and transfers to Government related entities (GREs) by the Government dampened domestic aggregate demand. However, thanks to the diversification of the economy in the UAE, this adverse impact is partially overcome by a growing non-oil sector.

Following a temporary bounce back in the primary quarter of 2017, the inflation rate dropped to reach 0.8% in the third quarter of 2017 compared with 2% in the second quarter.

After rising to 2% in the second quarter of 2017, the consumer Price Index (CPI) decreased to 0.5% in the third quarter of 2017, which is the lowest monthly reading since January 2013 (0.4%).

Oil prices proceeded with their recovery for fourth quarter in response with the OPEC agreement started in January 2017 in which it stipulates an oil production cut between its members. This oil prices improvement has boosted the economic confidence in which the non-oil Economic Composite Index was stated as a growth of 3.1% for the third quarter of 2017 compared with a 3% growth during the previous quarter.

Total expenditures have increased around 19.3% for the year 2016 compared with a decrease of 10.7% for 2015. The total expenditure increased by 9.3% in the second quarter of 2017, compared with an increase of 9.5% for the second quarter of 2016.

Total revenues increased by 42.1% years on year during 2016, Social contributions have increased also by 17.2% in 2016 and the total revenues increased by 8.7%, whereas the social contributions fell by more than 27.3% in the second quarter of 2017.

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