MIRA
INFORM REPORT
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Report Date : |
13.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
SUPERIOR GENERAL TRADING FZE |
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Registered Office : |
Ajman Free Zone, Office No. 191, P O Box – 12705, Ajman, |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
27.02.2005 |
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Com. Reg. No.: |
1815 |
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Legal Form : |
Mouassasat Al Mintaka Al Horra (Free Zone Establishment -
FZE) |
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Line of Business : |
Import and Distribution of Jewellery, Diamonds and Scrap Metals |
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 : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name :
SUPERIOR GENERAL TRADING FZE
Country of Origin :
Ajman, United Arab Emirates
Legal Form :
Free Zone Establishment - FZE
Registration Date :
27th February 2005
Trade Licence Number :
1815
Issued Capital :
UAE Dh 1,000,000
Paid up Capital :
UAE Dh 1,000,000
Total Workforce :
4
Line of Business :
Distributors of jewellery, diamonds and scrap metals.
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
COMPANY NAME
SUPERIOR GENERAL TRADING FZE
ADDRESS
Registered Address
Location : Ajman Free
Zone, Office No. 191
PO Box : 12705
Town : Ajman
Country : United Arab
Emirates
Trading Office
Location : Deira
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 2354890
Facsimile : (971-4)
2354891
Mobile : (971-50)
703215
Email : mick700@msn.com
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
Nazir Mohamed Nazir Managing
Director
M Vekram Sales
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 27th
February 2005
Legal Form : Mouassasat Al
Mintaka Al Horra (Free Zone Establishment - FZE)
Trade Licence No. : 1815
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Name of Shareholder
(s) Percentage
Nazir Mohamed Nazir 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 jewellery, diamonds and scrap
metals.
Import Countries: Europe and the Far East.
Subject has a workforce of 4 employees.
FINANCIAL HIGHLIGHTS
Companies registered in Ajman, United Arab Emirates are not legally
required to make their accounts public and no financial information was
released by the company or submitted by outside sources.
BANKERS
Emirates Bank International Ltd
Baniyas Road
PO Box : 2923
Deira
Dubai
Tel : (971-4) 3160316
Fax : (971-4) 2264302
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 150,000:
Established in 2005, subject is involved in the import and distribution
of jewellery, diamonds and scrap metals.
Local sources report that payment obligations are met in a generally
timely manner and the operating history is clear. As such the company is deemed
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. |
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%)