MIRA
INFORM REPORT
|
Report Date : |
09.08.2007 |
IDENTIFICATION DETAILS
|
Name : |
AM INTERNATIONAL FZE |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
27.02.2007 |
|
|
|
|
Com. Reg. No.: |
7603 (Expires 26th February 2008) |
|
|
|
|
Legal Form : |
Mouassasat Al Mintaka Al Horra (Free Zone Establishment -
FZE) |
|
|
|
|
Line of Business : |
Engaged in the import and distribution of metal products |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average/normal. |
Small |
|
Maximum Credit Limit : |
US$ 20,000 |
|
|
|
|
Status : |
New Company |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name :
AM INTERNATIONAL FZE
Country of Origin :
Legal Form :
Free Zone Establishment - FZE
Registration Date :
27th February 2007
Trade Licence Number :
7603
Membership Number :
119141
Issued Capital :
UAE Dh 1,000,000
Paid up Capital :
UAE Dh 1,000,000
Total Workforce :
4
Line of Business :
Distributors of metal products.
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
COMPANY NAME
AM INTERNATIONAL FZE
ADDRESS
Registered & Physical Address
Street :
Area : Jebel Ali
Free Zone
PO Box : 262098
Town :
Country :
Telephone : (971-4) 8873815
Facsimile : (971-4) 8873815
Email : ami@mittalsteel.com
Premises
Subject operates from a small suite of offices that are rented and
located in the Jebel Ali Free Zone.
KEY PRINCIPALS
Name Nationality Position
Yerragunta Prasanna Kumar Indian Managing Director
LEGAL FORM &
OWNERS
Date of Establishment : 27th
February 2007
Legal Form : Mouassasat Al
Mintaka Al Horra (Free Zone Establishment - FZE)
Trade Licence No. : 7603 (Expires 26th
February 2008)
Membership No. : 119141
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Name of Shareholder
(s) Percentage
Yerragunta Prasanna Kumar 100%
Note to the Legal Form
A Free Zone Establishment - or FZE - is an establishment formed and
registered within the Free Zones and regulated solely by the Free Zone
authorities.
Such establishments must have a capital of at least UAE Dh 1 million and
liability will be limited to the amount of paid-up capital. A FZE need only
have a single shareholder and is an independent legal entity.
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, i.e. minimum of 51 % equity in the capital.
LINE OF BUSINESS
Operations : Engaged in the
import and distribution of metal products.
Import Countries : Europe and the
Subject has a workforce of 4 employees.
FINANCIAL HIGHLIGHTS
Subject is a newly formed business and as a result financial information
is not currently available.
BANKERS
Emirates Bank International Ltd
PO Box : 2923
Deira
Tel : (971-4) 3160316
Fax : (971-4) 2264302
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Investigations undertaken in Dubai did not reveal any sign of payment defaults
or delays during initial trading stages, and subject is believed to meet its
payment obligations in a timely manner, nevertheless, and in view of the
company’s infancy and the lack of a more consistent payment and financial
record, a measure of caution is advisable and a close monitoring of subject’s
business development is recommended.
Maximum suggested credit figure: US$ 20,000
.
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)