MIRA
INFORM REPORT
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Report Date : |
6th
February, 2007 |
IDENTIFICATION
DETAILS
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Name : |
BINCA INTERNATIONAL GMBH & CO KG |
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Registered Office : |
Leased
Office Building No. 2, Jebel Ali Free Zone, PO Box: 18113, Dubai, United Arab
Emirates. |
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Country : |
United
Arab Emirates |
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Date of Incorporation : |
22.01.2002 |
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Legal Form : |
Branch of a Foreign Registered Corporation |
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Line of Business : |
Engaged
in the import and distribution of general foodstuff products, supplying
hotels, restaurants, caterers and ship chandlers. |
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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Maximum Credit Limit : |
US$
30,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
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Company
Name |
BINCA INTERNATIONAL GMBH & CO KG |
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Country
of Origin |
Germany |
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Legal
Form |
Branch of a Foreign Registered Corporation |
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Registration
Date |
22nd January 2002 |
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Trade
Licence Number |
3286 |
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Total
Workforce |
3 |
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Line
of Business |
Distributors of general foodstuff products |
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Financial
Condition |
Undetermined |
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Payments |
Nothing detrimental uncovered |
COMPANY NAME
BINCA
INTERNATIONAL GMBH & CO KG
ADDRESS
Registered & Physical Address
Building : Leased Office Building No. 2
Area : Jebel Ali Free Zone
PO Box : 18113
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 8817989
Facsimile : (971-4) 8871819
Premises
Subject
operates from a small suite of offices and a warehouse that are rented and
located in the Jebel Ali Free Zone.
KEY PRINCIPALS
· Tanay Luthca General
Manager
LEGAL FORM & OWNERS
Date of Establishment : 22nd January 2002
Legal Form : Subject is the United Arab Emirates registered branch of Binca International
GmbH & Co KG, a Limited Liability Company
incorporated in Germany.
Binca International GmbH &
Co KG in the United Arab Emirates, operates as a
Branch of a Foreign
Registered Corporation.
A Branch of a Foreign
Registered Corporation is not a legal entity in
its own right. Responsibility
for payments lays in the hands of the
company where it is originally
registered.
Under these circumstances, we
strongly advise that any
international trade credit
should only be written under the name of
the main company where the
subject holds its registered office, in
this case Germany.
Trade Licence No. : 3286
LINE OF BUSINESS
Operations
: Engaged in the
import and distribution of general foodstuff products, supplying hotels, restaurants,
caterers and ship chandlers.
Import
Countries :
Europe the Far East.
Subject
has a workforce of 3 employees.
FINANCIAL HIGHLIGHTS
Companies
registered in Dubai, 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
·
Standard
Chartered Bank
Khalid Bin Waleed Street
PO Box : 999
Dubai
Tel : (971-4) 2520455
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion
on the credit figure of US$ 150,000:
Established
in 2002, subject is involved in the import and distribution of general
foodstuff products, supplying hotels, restaurants, caterers and ship chandlers.
Any
credit amount that is to be offered to this company should be written under the
name of “Binca International GmbH & Co KG” and directed to the companies
head office address in Germany.
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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