MIRA
INFORM REPORT
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Report Date : |
13.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
DIVYAH GENRELA TRADING FZC |
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Registered Office : |
Ajman Free Zone, Office No. B-1-415, Ajman |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
13.07.2004 |
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Legal Form : |
Free Zone Company |
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Line of Business : |
Distributors of ready made garments and textiles |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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Maximum Credit Limit : |
US$ 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : DIVYAH GENERAL TRADING FZC
Country of Origin : Ajman, United Arab Emirates
Legal Form : Free Zone Company - FZC
Registration Date : 13th July 2004
Trade Licence Number : 1548
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Total Workforce : 6
Line of Business : Distributors of ready made garments and textiles.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
DIVYAH GENERAL TRADING FZC
ADDRESS
Registered & Physical Address
Location : Ajman Free
Zone, Office No. B-1-415
Town : Ajman
Country : United Arab
Emirates
Telephone : (971-6) 7429513
/ 7428513
Facsimile : (971-6)
7429513
Mobile : (971-50)
8786713 / 5255761
Email : divyahgentrdg@yahoo.com
Premises
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Ajman Free Zone.
Branch Office (s)
Location Description
· PO Box : 44318
& 42046 Office
premises
Dubai
Tel : (971-4)
3593600
KEY PRINCIPALS
· Raju Shah Managing
Director
· Chirag Shah Director
· Chin Shah Director
LEGAL FORM &
OWNERS
Date of
Establishment : 13th
July 2004
Legal Form : Free Zone Company
- FZC
Trade Licence No. : 1548
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Name of Shareholder (s)
· Raju Shah
· Chirag Shah
· Chin Shah
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 ready made garments and textiles.
Import Countries : Europe and the
Far East.
Operating Trend : Steady
Subject has a workforce of 6 employees.
FINANCIAL HIGHLIGHTS
Financial highlights provided by outside sources are given below :
Currency : United Arab Emirates Dirham (UAE Dh)
Year Ending 31/12/05: Year Ending 31/12/06:
Total Sales UAE
Dh 3,750,000 UAE Dh
4,200,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
·
Bank Melli Iran
PO Box : 1894
Baniyas Square
Dubai
Tel :
(971-4) 2216777
Fax : (971-4)
2231589
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 150,000:
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 and
the above credit figure is within subject’s financial means.
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. |
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%)