MIRA
INFORM REPORT
|
Report Date : |
13.02.2007 |
IDENTIFICATION
DETAILS
|
Name : |
TECHNOLOGY
VENTURES MIDDLE EAST FZC |
|
|
|
|
Registered Office : |
Saif
Zone, P O Box 9252, Sharjah |
|
|
|
|
Country : |
United
Arab Emirates |
|
|
|
|
Financials (as on) : |
31.12.2005 |
|
|
|
|
Date of Incorporation : |
23rd October 2004 |
|
|
|
|
Legal Form : |
Free Zone Company – FZC |
|
|
|
|
Line of Business : |
Engaged
in the import and distribution of marine, industrial, laboratory and
electrical equipment and solutions. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
US$
150,000 |
|
|
|
|
Status : |
Satisfactory
|
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name : TECHNOLOGY VENTURES MIDDLE EAST FZC
Country of Origin : Sharjah, United Arab Emirates
Legal Form : Free Zone Company - FZC
Registration Date : 23rd October 2004
Trade Licence Number : 2608
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Total Workforce : 40
Line of Business : Distributors of marine, industrial, laboratory and electrical
equipment and solutions.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
TECHNOLOGY
VENTURES MIDDLE EAST FZC
ADDRESS
Registered & Physical Address
Location : Saif Zone
PO Box : 9252
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 5572602 / 5572604
Facsimile : (971-6) 5572603
Email : info@tv-me.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
· L G Babu Managing
Director
· T V Sharath Director
· Arun Shekhar Director
· B Siva Sankar Director
LEGAL FORM &
OWNERS
Date of Establishment : 23rd October 2004
Legal Form : Free Zone Company - FZC
Trade Licence No. : 2608
Issued
Capital : UAE Dh 1,000,000
Paid
up Capital : UAE Dh 1,000,000
Name of Shareholder
(s)
· L G Babu
· T V Sharath
· Arun Shekhar
· B Siva Sankar
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.
AFFILIATED COMPANIES
· Technology Ventures Qatar WLL
PO Box : 24156
Doha
Qatar
Tel
: (974) 4315495
Fax
: (974) 4315502
LINE OF BUSINESS
Operations
: Engaged in the
import and distribution of marine, industrial, laboratory and electrical
equipment and solutions.
Import
Countries :
Europe and the United States of America.
Operating
Trend : Steady
Subject
has a workforce of 40 employees.
FINANCIAL HIGHLIGHTS
Financial
highlights provided by outside sources are given below :
Currency
: United Arab Emirates Dirham (UAE Dh)
Year Ending 31/12/05 :
Total
Revenue UAE Dh
9,300,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
·
National
Bank of Ras Al Khaimah
King Faisal Road
PO Box : 41010
Sharjah
Tel
: (971-6) 5746888
Fax
: (971-6) 5746363
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion
on the credit figure of US$ 150,000:
Established
in 2004, subject is involved in the import and distribution of marine,
industrial, laboratory and electrical equipment and solutions.
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 and the above credit figure is considered to be within subject’s financial
means.
Maximum
suggested credit figure: US$ 150,000
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/normal. |
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 |
|