MIRA
INFORM REPORT
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Report Date : |
30.07.2007 |
IDENTIFICATION DETAILS
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Name : |
MOONLIGHT TRADING
DMCC |
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Registered Office : |
M-15 |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
13th February 2005 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Trades in
diamonds, gold and other precious stones. |
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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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
SUMMARY
Company Name : MOONLIGHT TRADING DMCC
Country of Origin :
Legal Form : Sole Proprietorship
Registration Date : 13th February 2005
Trade Licence Number : 30130
Invested Capital : UAE Dh 100,000
Total Workforce : 4
Line of Business : Distributors of diamonds, gold and other precious stones.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
COMPANY NAME
MOONLIGHT TRADING
DMCC
ADDRESS
Registered & Physical Address
Building : M-15 Gold Land Building
Area : Deira
PO Box : 171425
Town :
Country : United Arab Emirates
Telephone : (971-4) 2352846 / 2352847
Facsimile : (971-4) 2352801
Email : mlight@emirates.net.ae
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
·
Maher
Mehta Proprietor
·
Mahendara
Jain General
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 13th
February 2005
Legal Form :
Mouassasa Khassa (Sole
Proprietorship)
Trade Licence No. : 30130
Invested Capital
: UAE Dh 100,000
Mr Maher Mehta 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 : Subject trades in diamonds, gold and other
precious stones.
Import Countries
: Europe and the Far East.
Subject has a
workforce of 4 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
3,200,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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Bank of
PO Box : 3162
Dubai
Tel : (971-4) 5531955
Fax : (971-4) 5536962
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
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.
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%)