MIRA
INFORM REPORT
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Report Date : |
20th
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
AIRODYNE
INTERNATIONAL TRADING |
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Registered Office : |
Sheikh
Zayed Bin Saqer Al Nahyan Building, Abu Baker Al Siddique Street, Al
Khabeesi, PO Box : 183382, Dubai, United Arab Emirates |
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Country : |
United
Arab Emirates |
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Date of Incorporation : |
13.04.2006 |
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Com. Reg. No.: |
110530, Dubai |
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Legal Form : |
Mouassasa
Khassa (Sole Proprietorship) |
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Line of Business : |
Importer and Distributors of air conditioning equipment and refrigeration components. |
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$
35,000 |
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Status : |
Satisfactory
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
SUMMARY
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Company Name |
AIRODYNE INTERNATIONAL TRADING |
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Country of Origin |
Dubai, United Arab Emirates |
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Legal Form |
Sole Proprietorship |
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Registration Date |
13th April 2006 |
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Commercial Registration Number |
110530, Dubai |
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Trade Licence Number |
580020 |
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Membership Number |
106587 |
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Invested Capital |
UAE Dh 100,000 |
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Total Workforce |
4 |
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Line of Business |
Distributors of air conditioning equipment and refrigeration components. |
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Financial Condition |
Undetermined |
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Payments |
Nothing detrimental uncovered |
COMPANY NAME
AIRODYNE
INTERNATIONAL TRADING
ADDRESS
Registered & Physical Address
Building : Sheikh Zayed Bin Saqer Al Nahyan
Building
Street : Abu Baker Al Siddique Street
Area : Al Khabeesi
PO Box : 183382
Town : Dubai
Country : United Arab Emirates
Subject
has yet to register any contact numbers.
Premises
Subject
operates from a small suite of offices and a showroom that are rented and
located in the Central Business Area of Dubai.
KEY PRINCIPALS
·
Mohamed
Aqil Ali Mohamed Al Rais Proprietor
& General Manager
LEGAL FORM & OWNERS
Date of Establishment : 13th April 2006
Legal Form : Mouassasa Khassa (Sole Proprietorship)
Commercial Reg. No. : 110530, Dubai
Trade Licence No. : 580020 (Expires 12th April 2007)
Membership No. : 106587
Invested
Capital : UAE Dh 100,000
Mr
Mohamed Aqil Ali Mohamed Al Rais 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 air conditioning equipment and refrigeration
components.
Import
Countries :
Europe and the Far East.
Subject
has a workforce of 4 employees.
FINANCIAL HIGHLIGHTS
Subject
is a newly formed business and as a result financial information is not
currently available.
BANKERS
·
Emirates
Bank International Ltd
Baniyas Road
PO Box : 2923
Deira
Dubai
Tel :
(971-4) 2256256 / 2256900
Fax :
(971-4) 2268005 / 2267718
·
Mashreq
Bank Plc
Deira Branch
PO Box : 1250
Dubai
Tel :
(971-4) 2229131 / 2221134
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion
on the credit figure of US$ 150,000
Investigations
undertaken in Dubai did not reveal any sign of payment defaults or delays
during initial trading stages, and subject is believed to meet its payment
obligations in a timely manner, nevertheless, and in view of the company’s
infancy and the lack of a more consistent payment and financial record, a
measure of caution is advisable and a close monitoring of subject’s business
development is recommended.
Maximum
suggested credit figure: US$ 35,000
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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