MIRA
INFORM REPORT
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Report Date : |
18.11.2006 |
IDENTIFICATION
DETAILS
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Name : |
MK
INTERNATIONAL GROUP LTD FZE |
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Registered Office : |
Saif
Zone, Executive Suite E-03, P. O. Box 8236 & 8130, Sharjah |
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Country : |
United
Arab Emirates |
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Date of Incorporation : |
19th July 1999 |
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Legal Form : |
Free
Zone Establishment - FZE |
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Line of Business : |
Import
and distribution of general merchandise, including ready made garments,
building materials, foodstuffs and electrical appliances. |
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$
50,000 |
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Status : |
Satisfactory
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : MK INTERNATIONAL GROUP LTD FZE
Also Known As : MKI GROUP LTD
Country of Origin : Sharjah, United Arab Emirates
Legal Form : Free Zone Establishment - FZE
Registration Date : 19th July 1999
Trade Licence Number : 559
Membership Number : 700126
Issued Capital : UAE Dh 500,000
Paid up Capital : UAE Dh 500,000
Total Workforce : 3
Line of Business : Distributors of general merchandise.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
MK
INTERNATIONAL GROUP LTD FZE
ALSO KNOWN AS
MKI
GROUP LTD
ADDRESS
Registered & Physical
Address
Location : Saif Zone, Executive Suite E-03
PO Box : 8236 & 8130
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 5570735
Facsimile : (971-6) 5570735
Email : trading@emirates.net.ae
Premises
Subject
operates from a small suite of offices and a warehouse that are rented and
located in the Saif Zone Area of Sharjah.
Branch Office
Location Description
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Dubai Office
premises
Tel : (971-4) 2254622
Fax
: (971-4) 2263818
KEY PRINCIPALS
Name Nationality Position
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Motasim
Kader Abdullah Kenon Sudanese Managing Director
LEGAL FORM & OWNERS
Date of Establishment : 19th July 1999
Legal Form : Mouassasat Al Mintaka Al Horra (Free Zone Establishment - FZE)
Trade Licence No. : 559
Membership No. : 700126
Issued
Capital : UAE Dh 500,000
Paid
up Capital : UAE Dh 500,000
Name of Shareholder (s)
Percentage
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Motasim
Kader Abdullah Kenon 100%
Note to the Legal Form
A Free Zone Establishment (FZE) is a Private Limited Liability Company, with its liability determined by the amount of paid-up capital. The minimum share capital currently stands at UAE Dh 1,000,000.
This legal form allows for 100 percent foreign ownership within the United Arab Emirates and allows foreign companies to maintain a presence in the UAE (within the free zone), without the usual requirement of a local sponsor that would hold majority ownership, ie minimum of 51% equity in the capital.
LINE OF BUSINESS
Operations
: Engaged in the
import and distribution of general merchandise, including ready made garments,
building materials, foodstuffs and electrical appliances.
Import
Countries :
Europe and the Far East.
Subject
has a workforce of 3 employees.
FINANCIAL HIGHLIGHTS
Companies
registered in Sharjah, 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.
BANKERS
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National
Bank of Sharjah
Al Boorj Avenue
PO Box : 4
Sharjah
Tel : (971-6) 5547747
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Established
in 1999, subject is owned and managed by Mr Motasim Kader Abdullah Kenon, a
Sudanese national who is well respected in the local business community.
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.
Maximum
suggested credit figure: US$ 50,000
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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