Attachment 1
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Report
Update On |
16th June, 1999 |
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Report on |
PUSAN TRADING |
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Registered Office |
South Naif, Deira, Dubai, United Arab Emirates |
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Tel. No. |
971 4 216013 |
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Fax No. |
971 4 210969 |
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E-Mail |
-- |
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Telex |
-- |
Attachment 2
S U M M A R Y
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Incorporated |
1989 |
Status |
Satisfactory |
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Registration No. |
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Chief Executive |
Ali Al Musa |
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Capital |
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Payments |
Regular |
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Sales (Dh) |
2,000,000 plus |
Litigation |
-- |
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Net Worth |
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Banking Reputation |
Satisfactory |
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No. of Employees |
5 |
Auditors |
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Credit Rating |
Ba (See attachment 3) |
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SENIOR COMPANY
PERSONNEL
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Name |
Position |
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Ali Al Musa |
General Manager/Proprietor |
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M Akbar |
Sales Representative |
Total
Employees : 5
PAYMENTS
No
complaints have been heard regarding payments from local suppliers or banks.
We
consider it is acceptable to deal with subject for SMALL amounts.
Opinion
on maximum credit : Dh 850,000
Opinion
on credit figure of US DLRS 125,000 :
The
above figure is higher than normally seen in one amount, however could prove
admissible in a series of transactions provided the total indebtedness is
strictly monitored.
PRINCIPAL
BANKERS
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NAME |
COMMERCIAL
BANK OF DUBAI |
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Branch |
Mankool
Street |
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P.O. Box |
2668 |
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Town |
Dubai |
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Telephone |
(971 4)
523355 |
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Fax |
(971 4) 520444 |
FINANCIAL
INFORMATION
Balance
sheets are not available. However, the subject interviewed offered the
following information :
Sales
Turnover : Dh 2,000,000 plus - 1998 -
estimated
Net
Profit : not given
LEGAL
STATUS AND HISTORY
Date
Started : 1989
Capital : not applicable
Proprietorship
owned by Ali Al Musa (UAE national).
ACTIVITIES
The
Company is involved in the following activities :
Trading
as importers, distributors and retailers of oilfield supplies, hardware and
shipping items.
Imports
from Europe.
FACILITIES
The
Company has the following facilities :
Premises
comprising an office, a showroom and storage facilities located at the heading
address.
GENERAL
INFORMATION
Millennium
Compliance (Y2K)
The
subject company has been interviewed regarding the compliance of its computer
systems with the year 2000 with the following results:
1.
The company states that all necessary steps have been taken and it will
be Y2K compliant before the end of 1999.
2. The company says that it does not anticipate any significant problems resulting from any possible Y2K non-compliance on the part of its customers or suppliers.
Attachment 3
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SCORE SHEET |
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SCORE |
CREDIT 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. Maybe drawn to slightly difficult position as unfavourable
conditions arise. Minimal assurance for timely payment on interest and
principal sums |
Moderate |
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26-40 |
B |
Unfavourable & favourable factors carry similar
weight in credit consideration. Capability to overcome financial difficulties
seems comparatively limited or considered not known. Capability to pay both
interest and principal sums is doubtful |
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 |
Attachment 4
ACKNOWLEDGEMENT
Dear Sir/Madam,
As part of our control
system, please fax/email us this note
upon receipt of this report. If we do not receive the acknowledgement within 24
hours, we will assume that our report meets your requirement. If you have any
suggestion to help us improve our reports and services, please do not hesitate to
let us know.
Thank you.
________________________________________________________________________
To : MIRA INFORM PRIVATE
LIMITED
From :
To :
Feedback – Please tick
the appropriate box.
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Company’s Stamp &
Signature