MIRA
INFORM REPORT
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Report Date : |
2nd
February, 2007 |
IDENTIFICATION
DETAILS
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Name : |
GIANT HOLDINGS FZE |
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Registered Office : |
Saif
Zone, Block 8254, PO Box: 9664, Sharjah, United Arab Emirates. |
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Country : |
United
Arab Emirates |
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Date of Incorporation : |
28.08.2006 |
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Legal Form : |
Mouassasat
Al Mintaka Al Horra (Free Zone Establishment - FZE) |
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Line of Business : |
Engaged
in the import and distribution of general foodstuff products and footwear. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$
30,000 |
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Status : |
New
Concern |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
SUMMARY
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Company
Name |
GIANT HOLDINGS FZE |
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Country
of Origin |
Sharjah, United Arab Emirates |
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Legal
Form |
Free Zone Establishment - FZE |
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Registration
Date |
28th August 2006 |
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Trade
Licence Number |
3260 |
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Issued
Capital |
UAE Dh 1,000,000 |
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Paid
up Capital |
UAE Dh 1,000,000 |
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Total
Workforce |
20 |
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Line
of Business |
Distributors of general foodstuff products and footwear. |
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Financial
Condition |
Undetermined |
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Payments |
Nothing detrimental uncovered |
COMPANY NAME
GIANT
HOLDINGS FZE
ADDRESS
Registered & Physical Address
Location : Saif Zone, Block 8254
PO Box : 9664
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 3965550 / 3596600
Facsimile : (971-6) 3965551
Email : rajukmarg@giantuae.com
Premises
Subject
operates from a small suite of offices and a warehouse that are rented and
located in the Saif Zone Area of Sharjah.
KEY PRINCIPALS
Name Nationality Position
· Kewlani Vashov Nazikdas Indian Managing Director
· Kewlani Lilaram Nazikdas Indian General Manager
· Raju Kumar Gadwani - Commercial
Manager
LEGAL FORM & OWNERS
Date of Establishment : 28th August 2006
Legal Form : Mouassasat Al Mintaka Al Horra (Free Zone Establishment - FZE)
Trade Licence No. : 3260
Issued
Capital : UAE Dh 1,000,000
Paid
up Capital : UAE Dh 1,000,000
Name of Shareholder (s)
Percentage
· Kewlani Vashov Nazikdas 100%
Note to the Legal Form
A Free Zone Establishment (FZE) 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.
AFFILIATED COMPANIES
· Shankar Trading Co LLC
Al Kifaf Centre, Ground Floor
Al Ras Street
Al Ras, Karama
PO Box : 713
Dubai
Tel : (971-4) 3965550 / 3596600
Fax : (971-4) 3965551 / 3596601
LINE OF BUSINESS
Operations
: Engaged in the
import and distribution of general foodstuff products and footwear.
Import
Countries :
Europe and the Far East.
Subject
has a workforce of 20 employees.
FINANCIAL HIGHLIGHTS
Subject
is a newly formed business and as a result financial information is not
currently available.
BANKERS
·
ABN
Amro Bank
Deira Branch
PO Box : 2567
Dubai
Tel : (971-4) 3512200
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Investigations
undertaken in Sharjah 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$ 30,000
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/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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