MIRA
INFORM REPORT
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Report Date : |
04.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
KAVYARJUN GENERAL
TRADING FZC |
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Registered Office : |
Ajman Free Zone,
Plot No. A1404, P O Box 62505, Ajman |
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Country : |
United Arab
Emirates |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
16th February 2005 |
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Legal Form : |
Free Zone Company – FZC |
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Line of Business : |
Import and
distribution of general foodstuff products and consumable items. |
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$ 100,000 |
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Status : |
Fair |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
SUMMARY
Company Name : KAVYARJUN GENERAL TRADING FZC
Country of Origin : Ajman, United Arab Emirates
Legal Form : Free Zone Company - FZC
Registration Date : 16th February 2005
Trade Licence Number : 1802
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Total Workforce : 8
Line of Business : Distributors of general foodstuff products and consumable items.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
KAVYARJUN GENERAL
TRADING FZC
ADDRESS
Registered & Physical Address
Location : Ajman Free Zone, Plot No. A1404
PO Box : 62505
Town : Ajman
Country : United Arab Emirates
Telephone : (971-6) 7445745
Facsimile : (971-6) 7445742
Mobile : (971-50) 4543626
Email : kavitha_ims@hotmail.com
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Ajman Free Zone.
KEY PRINCIPALS
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Kavitha
Subramanyan Managing
Director
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Santosh
Kumar Shatti General
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 16th
February 2005
Legal Form :
Free Zone Company - FZC
Trade Licence No. : 1802
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Name of Shareholder
(s) Percentage
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Kavitha
Subramanyan 100%
Note to the Legal Form
A Free Zone Company (FZC) 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 foodstuff products and consumable items, including tea, spices, rubber,
agricultural products, mobile telephones and educational items.
Import Countries
: Europe and the Far East.
Subject has a
workforce of 8 employees.
FINANCIAL HIGHLIGHTS
Financial
highlights provided by outside sources are given below :
Currency : United
Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/06:
Total Revenue UAE Dh
3,100,000
Local sources consider
subject’s financial condition to be Fair.
BANKERS
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Bank of Baroda
PO Box : 1671
Sharjah
Tel
: (971-6) 5684231
Fax
: (971-6) 5681025
Acc No. 90040200004899
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 150,000:
Established in
2005, subject is involved in the import and distribution of general foodstuff
products and consumable items, including tea, spices, rubber, agricultural
products, mobile telephones and educational items.
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.
Maximum suggested
credit figure: US$ 100,000
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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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)