MIRA
INFORM REPORT
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Report Date : |
23.11.2006 |
IDENTIFICATION
DETAILS
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Name : |
SWISS SINGAPORE OVERSEAS ENTERPRISES PTE LTD |
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Registered Office : |
Green
Corner Building, 5th Floor, Office No. 509, Al Riqqa Road, Bur
Dubai, P. O. Box 60757, Dubai |
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Country : |
United
Arab Emirates |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
1991 |
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Com. Reg. No.: |
37022 |
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Legal Form : |
Branch of a Foreign Registered
Corporation |
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Line of Business : |
Engaged
in the import and distribution of grain, cereals, textiles, steel products,
non ferrous metals, timber, as well as industrial and petrochemical equipment
and supplies. |
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 |
SWISS SINGAPORE OVERSEAS ENTERPRISES PTE LTD |
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Country
of Origin |
Singapore |
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Legal
Form |
Branch of a Foreign Registered Corporation |
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Registration
Date |
1991 |
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Commercial
Registration Number |
37022, Dubai |
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Trade
Licence Number |
227997 |
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Membership
Number |
40411 |
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Total
Workforce |
10 |
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Line
of Business |
Import and distribution of grain, cereals, textiles, steel products, non ferrous metals, timber, as well as industrial and petrochemical equipment and supplies. |
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Financial
Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating
Trend |
Steady |
COMPANY NAME
SWISS SINGAPORE OVERSEAS ENTERPRISES PTE LTD
ADDRESS
Registered & Physical Address
Building : Green Corner Building, 5th
Floor, Office No. 509
Street : Al Riqqa Road
Area : Bur Dubai
PO Box : 60757
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2222720
Facsimile : (971-4) 2276376
Email : ssoedxb@emirates.net.ae
Premises
Subject
operates from a medium sized suite of offices that are rented and located in
the Central Business Area of Dubai.
Branch Office (s)
Location Description
· Jebel Ali Free Zone Rented
warehouse premises
PO Box 61149
Dubai
Tel : (971-4) 8837345
Fax : (971-4) 8837344
KEY PRINCIPALS
· Rajesh Somani Managing
Director
· K.K. Gupta General
Manager
· Candy Jain Commercial
Manager
· Sudair Demodaran Sales
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1991
Legal Form : Subject is the United Arab Emirates registered branch of Swiss Singapore
Overseas Enterprises Ltd, a
Limited Liability Company incorporated in
Singapore.
Swiss Singapore Overseas
Enterprises Ltd in the United Arab Emirates,
operates as a Branch of a
Foreign Registered Corporation with its registered
office located at the following
address :
Swiss Singapore Overseas
Enterprises Ltd
14-01 Shenton House
3 Shenton Way
Singapore 049513
Tel : (65) 2218455
Fax : (65) 2224984
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 Singapore.
Commercial Reg. No. : 37022, Dubai
Trade Licence No. : 227997
Membership No. : 40411
JAFZ Licence No. : 1034
LINE OF BUSINESS
Operations
: Engaged in the
import and distribution of grain, cereals, textiles, steel products, non
ferrous metals, timber, as well as industrial and petrochemical equipment and
supplies.
Import
Countries : The
Far East and Southeast Asia.
Operating
Trend : Steady
Subject
has a workforce of 10 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 5,490,000 UAE Dh
6,120,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
·
Commercial
Bank of Dubai
Jebel Ali Branch
PO Box : 2668
Dubai
Tel : (971-4) 8818882
Fax : (971-4) 8812252
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
Date of transaction August 2001
Credit
amount 293,000
Amount
overdue 0
Payment
terms 60 days
Payment
Method Letters of
Credit
Paying
record No
Complaints
Currency Deutsch
Marks
GENERAL COMMENTS
Swiss
Singapore Overseas Enterprises Pte Ltd is a branch of a Singapore based company,
which was established in Dubai in 1991. It is engaged in the import and
distribution of grain, cereals, textiles, steel products, non ferrous metals,
timber, as well as industrial and petrochemical equipment and supplies.
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 business is considered to be a fair trade risk.
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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