MIRA
INFORM REPORT
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Report Date : |
20th
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
BELTEXCO LIMITED |
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Registered Office : |
Sheikh
Zayed Road, Jebel Ali Free Zone, PO Box : 16969, Dubai, United Arab Emirates |
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Country : |
United
Arab Emirates |
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Date of Incorporation : |
16.03.1991 |
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Legal Form : |
Branch of a Foreign Registered Corporation |
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Line of Business : |
Engaged
in the manufacture of PVC and latex dipped lined gloves and other industrial
safety products. |
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$
200,000 |
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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 |
BELTEXCO LIMITED |
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Country of Origin |
China |
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Legal Form |
Branch of a Foreign Registered Corporation |
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Registration Date |
16th March 1991 |
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Trade Licence Number |
575 |
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Membership Number |
20665 |
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Total Workforce |
240 |
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Line of Business |
Manufacturers of PVC and latex dipped lined gloves and other industrial safety products. |
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Financial Condition |
Undetermined |
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Payments |
Nothing detrimental uncovered |
COMPANY NAME
BELTEXCO
LIMITED
ADDRESS
Registered & Physical Address
Street : Sheikh Zayed Road
Area : Jebel Ali Free Zone
PO Box : 16969
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 8815733
Facsimile : (971-4) 8816306
Email : beltexco@emirates.net.ae
Premises
Subject
operates from a large suite of offices and a factory that are rented and
located in the Jebel Ali Free Zone Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
·
Mustafa
Moosa Qassim Somji Tanzanian General Manager
LEGAL FORM & OWNERS
Date of Establishment : 16th March 1991
Legal Form : Subject is the United Arab Emirates registered branch of Beltexco
Limited, a
Limited Liability Company
incorporated in China.
Beltexco Limited in the United
Arab Emirates, operates as a Branch of a
Foreign Registered
Corporation.
A Branch of a Foreign
Registered Corporation is not a legal entity in
its own right. Responsibility
for payments lays in the hands of the
company where it is originally
registered.
Under these circumstances, we
strongly advise that any
international trade credit
should only be written under the name of
the main company where the
subject holds its registered office, in
this case China.
Trade Licence No. : 575 (Expires 14th November 2007)
Membership No. : 20665
LINE OF BUSINESS
Operations
: Engaged in the
manufacture of PVC and latex dipped lined gloves and other industrial safety
products.
Import
Countries :
Europe and China.
Subject
has a workforce of approximately 240 employees.
FINANCIAL HIGHLIGHTS
Companies
registered in Dubai, 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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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
Established
in 1991, subject is involved in the manufacture of PVC and latex dipped lined
gloves and other industrial safety products.
Any
credit amount that is to be offered to this company should be written under the
name of “Beltexco Limited” and directed to the companies head office address in
China.
Maximum
suggested credit figure: US$ 200,000
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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