MIRA
INFORM REPORT
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Report Date : |
13th
February, 2007 |
IDENTIFICATION
DETAILS
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Name : |
HOLLYWOOD MAGIC SAL |
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Registered Office : |
World
Trade Centre, PO Box: 54598 & 9667, Dubai, United Arab Emirates. |
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Country : |
United
Arab Emirates |
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Date of Incorporation : |
2004 |
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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 children’s clothing and related
accessories. |
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$
50,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually
Correct |
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Litigation : |
Clear |
SUMMARY
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Company
Name |
HOLLYWOOD MAGIC SAL |
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Country
of Origin |
Lebanon |
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Legal
Form |
Branch of a Foreign Registered Corporation |
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Registration
Date |
2004 |
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Trade
Licence Number |
464 |
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Total
Workforce |
3 |
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Line
of Business |
Distributors of children’s clothing and related accessories. |
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Financial
Condition |
Undetermined |
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Payments |
Nothing detrimental uncovered |
COMPANY NAME
HOLLYWOOD
MAGIC SAL
ADDRESS
Registered & Physical Address
Location : World Trade Centre
PO Box : 54598 & 9667
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2997592
Facsimile : (971-4) 2997591
Mobile : (971-50) 6859232
Email : holmagic@emirates.net.ae
Premises
Subject
operates from a small suite of offices that are rented and located in the Central
Business Area of Dubai.
KEY PRINCIPALS
· Ned Khoury Managing
Director
· Steph Preston General
Manager
LEGAL FORM & OWNERS
Date of Establishment : 2004
Legal Form : Subject is the United Arab Emirates registered branch of Hollywood Magic
Sal,
a Joint Stock Company
incorporated in Lebanon.
Hollywood Magic Sal in the
United Arab Emirates, operates as a Branch of a
Foreign Registered
Corporation with its registered office located at the following
address :
Hollywood Magic Sal
Haret Sakhre
Kesrouane
Lebanon
Tel : (961-9) 936421
Fax : (961-9) 830042
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 Lebanon.
Trade Licence No. : 464
LINE OF BUSINESS
Operations
: Engaged in the
import and distribution of children’s clothing and related accessories.
Import
Countries :
Europe and the United States of America.
Agencies Held :
· Disney
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
·
Emirates
Bank International Ltd
Baniyas Road
PO Box : 2923
Deira
Dubai
Tel :
(971-4) 2256256 / 2256900
Fax :
(971-4) 2268005 / 2267718
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 children’s
clothing and related accessories.
Any
credit amount that is to be offered to this company should be written under the
name of “Hollywood Magic Sal” and directed to the companies head office address
in Lebanon.
Maximum
suggested credit figure: US$ 50,000
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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