MIRA
INFORM REPORT
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Report Date : |
4th
November, 2006 |
IDENTIFICATION
DETAILS
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Correct Name : |
TOKYO GENERATORS & MACHINERY SPARE
PARTS TRADING EST |
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Registered Office : |
Saleh
Hamad Mohamed Yazreb Al Ameri Building, Al Sanaiya, PO Box: 2097, Al Ain,
United Arab Emirates |
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Country : |
United
Arab Emirates |
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Date of Incorporation : |
27.10.2002 |
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Legal Form : |
Mouassasa
Khassa (Sole Proprietorship) |
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Line of Business : |
Importer
and Distributor of industrial machinery, pumps and generator spare parts. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
US$
150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually
Correct |
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Litigation : |
Clear |
SUMMARY
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Company Name |
TOKYO GENERATORS & MACHINERY SPARE PARTS TRADING EST |
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Country of Origin |
Al Ain, United Arab Emirates |
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Legal Form |
Sole Proprietorship |
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Registration Date |
27th October 2002 |
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Commercial Registration Number |
20055, Al Ain |
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Trade Licence Number |
33503 |
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Membership Number |
94420 |
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Invested Capital |
UAE Dh 40,000 |
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Total Workforce |
3 |
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Line of Business |
Distributors of industrial machinery, pumps and generator spare parts. |
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Financial Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating Trend |
Steady |
COMPANY NAME
TOKYO
GENERATORS & MACHINERY SPARE PARTS TRADING EST
ADDRESS
Registered & Physical
Address
Building : Saleh Hamad Mohamed Yazreb Al
Ameri Building
Area : Al Sanaiya
PO Box : 20973
Town : Al Ain
Country : United Arab Emirates
Telephone : (971-3) 7222399 / 7222733
Facsimile : (971-3) 7222744
Email : tokyo200@emirates.net.ae
Premises
Subject
operates from a small suite of offices and a warehouse that are rented and
located in the Central Business Area of Al Ain.
KEY PRINCIPALS
Name Nationality Position
·
Prithvi
Raj Indian Proprietor
& General Manager
·
Gadire
Ali Emirati Local
Sponsor
LEGAL FORM & OWNERS
Date of Establishment : 27th October 2002
Legal Form : Mouassasa Khassa (Sole Proprietorship)
Commercial Reg. No. : 20055, Al Ain
Trade Licence No. : 33503 (Expires 24th January
2007)
Membership No. : 94420
Invested
Capital : UAE Dh 40,000
Mr
Prithvi Raj is the sole proprietor of the business.
Note to the Legal Form
Commonly referred to as an establishment, the Company Law defines Mouassasa Khassa as the business of an individual where liability for all debts is unlimited. The business is the entire responsibility of its proprietor, who is liable for all its debts to the extent of his entire wealth. There are no legal requirements concerning the amount of capital of a sole proprietor.
LINE OF BUSINESS
Operations
: Engaged in the import and
distribution of industrial machinery, pumps and
generator
spare parts.
Import
Countries : Europe and the Far East.
Operating
Trend : Steady
Subject
has a workforce of 3 employees.
FINANCIAL HIGHLIGHTS
Financial
highlights provided by outside sources are given below :
Currency
: United Arab Emirates Dirham (UAE Dh)
Year Ending
31/12/04 : Year
Ending 31/12/05 :
Total
Revenue UAE Dh 3,500,000 UAE Dh
3,750,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
·
Wall
Street Exchange Centre LLC
PO Box : 20561
Al
Ain
Tel
: (971-3) 7220223
Fax
: (971-3) 7220905
·
Abu
Dhabi Commercial Bank
Khalifa Street
PO Box : 1820
Al Ain
Tel : (971-3) 7669999
Fax : (971-3) 7660349
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion
on the credit figure of US$ 150,000:
Established
in 2002, subject is involved in the import and distribution of industrial
machinery, pumps and generator spare parts.
Local
sources report that payment obligations are met in a generally timely manner
and the operating history is clear. As such the company is deemed a fair trade
risk and the above credit figure is considered to be within subject’s financial
means.
Maximum
suggested credit figure: US$ 150,000
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 |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
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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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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