MIRA
INFORM REPORT
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Report Date : |
02.08.2007 |
IDENTIFICATION DETAILS
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Name : |
MANSAR INDUSTRIES
FZE |
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Registered Office : |
Saif Zone, United
A3-011, |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
11th August 2002 |
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Legal Form : |
Free Zone Establishment – FZE |
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Line of Business : |
Import and distribution of bulk drugs and pharmaceuticals products, formulations for
tablets, capsules, injections and syrups, micronised raw materials, as well
as clothes for babies and children, professional and work clothing, uniforms
and textile articles for medical and surgical use. |
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
Company Name : MANSAR INDUSTRIES FZE
Country of Origin :
Legal Form : Free Zone Establishment - FZE
Registration Date : 11th August 2002
Trade Licence Number : 030101425
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Total Workforce : 25
Line of Business : Distributors of bulk drugs and pharmaceuticals products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
MANSAR INDUSTRIES
FZE
ADDRESS
Registered & Physical Address
Location : Saif Zone, United A3-011
PO Box : 7228
Town : Sharjah
Country :
Telephone : (971-6) 5570531
Facsimile : (971-6) 5570531
Email : mansar@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.
KEY PRINCIPALS
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Bhavesh
Shah Director
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Futermal
Jain General
Manager
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Suhas
Shah Sales
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 11th
August 2002
Legal Form :
Mouassasat Al Mintaka Al
Horra (Free Zone Establishment - FZE)
Trade Licence No. :
030101425
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Name of Shareholder
(s)
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Bhavesh
Shah
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.
AFFILIATED COMPANIES
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Miller
Drugs Pvt Ltd
Mumbai
LINE OF BUSINESS
Operations : Engaged in the import and distribution of bulk drugs and pharmaceuticals products,
formulations for tablets, capsules, injections and syrups, micronised raw
materials, as well as clothes for babies and children, professional and work
clothing, uniforms and textile articles for medical and surgical use.
Import Countries
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Export Countries
:
Operating Trend
: Steady
Subject has a
workforce of 25 employees.
FINANCIAL HIGHLIGHTS
Financial
highlights provided by outside sources are given below :
Currency :
Year
Ending 31/12/05 : Year
Ending 31/12/06 :
Total Revenue UAE Dh 8,270,000 UAE Dh
8,800,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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Habib
Bank AG
Immigration Road
PO Box : 1166
Sharjah
Tel : (971-6) 5730004
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in
2002, subject is involved in the import and distribution of bulk drugs and pharmaceuticals products,
formulations for tablets, capsules, injections and syrups, micronised raw
materials,
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$ 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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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%)