MIRA
INFORM REPORT
|
Report Date : |
30.08.2007 |
IDENTIFICATION DETAILS
|
Name : |
JBF RAK FZ LLC |
|
|
|
|
Registered Office : |
Al Jazeera
Al Hamara, |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
1st May 2007 |
|
|
|
|
Com. Reg. No.: |
2576 |
|
|
|
|
Legal Form : |
Free Zone Limited Liability Company – FZ LLC |
|
|
|
|
Line of Business : |
Engaged in the
provision of petrochemical services. |
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. |
Small |
|
Maximum Credit Limit : |
US$ 25,000 |
|
|
|
|
Status : |
New Company |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name : JBF RAK FZ LLC
Country of Origin :
Ras Al Khaimah,
Legal Form : Free Zone Limited Liability Company – FZ LLC
Registration Date : 1st May 2007
Commercial Registration Number : 2576
Trade Licence Number : 2576
Membership Number : 62268
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Total Workforce : 4
Line of Business : Providers of petrochemical services.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
JBF RAK FZ LLC
ADDRESS
Registered & Physical Address
Location : Al Jazeera Al Hamara
PO Box : 6574
Town : Ras Al Khaimah
Country :
Telephone : (971-7) 2447269
Facsimile : (971-7) 2447279
Email : annie_d@bfmail.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Ras Al Khaimah.
KEY PRINCIPALS
·
Shiraj P Arya Managing
Director
· Antonea D'Souza Director
LEGAL FORM &
OWNERS
Date of Establishment : 1st
May 2007
Legal Form :
Free Zone Limited Liability
Company – FZ LLC)
Commercial Reg. No. : 2576
Trade Licence No. : 2576
Membership No. : 62268
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Name of Shareholder
(s)
·
Shiraj P Arya
· Antonea D'Souza
LINE OF BUSINESS
Operations : Engaged in the provision of petrochemical
services.
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
·
National
Bank of Ras Al Khaimah
PO Box : 5300
Ras Al Khaimah
Tel : (971-7) 2221127
Fax : (971-7) 2224202
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$ 25,000
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. |
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%)