MIRA
INFORM REPORT
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Report Date : |
1st
January, 2007 |
IDENTIFICATION
DETAILS
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Name : |
KRIEGER
INTERNATIONAL FZE |
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Registered Office : |
Ajman
Free Zone, PO Box: 3049, Ajman, United Arab Emirates |
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Country : |
United
Arab Emirates |
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Date of Incorporation : |
2003 |
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Legal Form : |
Mouassasat
Al Mintaka Al Horra (Free Zone Establishment - FZE) |
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Line of Business : |
Importer
and Distributor of flexible packaging materials, including PET, BOPP, PE and
PVC films, aluminium foils and plastic clad metal tapes. |
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$
150,000 |
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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 |
KRIEGER INTERNATIONAL FZE |
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Country
of Origin |
Ajman, United Arab Emirates |
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Legal
Form |
Free Zone Establishment - FZE |
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Registration
Date |
2003 |
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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 |
10 |
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Line
of Business |
Distributors of flexible packaging materials. |
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Financial
Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating
Trend |
Steady |
COMPANY NAME
KRIEGER
INTERNATIONAL FZE
ADDRESS
Registered & Physical Address
Location : Ajman Free Zone
PO Box : 3049
Town : Ajman
Country : United Arab Emirates
Telephone : (971-6) 7471425
Facsimile : (971-6) 7471394
Mobile : (971-50) 4628413
Email : krieger@emirates.net.ae
Premises
Subject
operates from a small suite of offices and a warehouse that are rented and
located in the Ajman Free Zone.
KEY PRINCIPALS
· Roni Pinto Managing
Director
· Christina Daz Director
· Parashan Nair Administration
Manager
LEGAL FORM & OWNERS
Date of Establishment : 2003
Legal Form : Mouassasat Al Mintaka Al Horra (Free Zone Establishment - FZE)
Issued
Capital : UAE Dh 1,000,000
Paid
up Capital : UAE Dh 1,000,000
Name of Shareholder (s)
· Roni Pinto
· Christina Daz
Note to the Legal Form
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 flexible packaging materials, including PET, BOPP,
PE and PVC films,
aluminium foils and plastic clad metal tapes.
Import
Countries:
Europe and the Far East.
Operating
Trend: Steady
Subject
has a workforce of 10 employees.
FINANCIAL HIGHLIGHTS
Financial
highlights provided by outside sources are given below :
Currency
: United Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/04: Year
Ending 31/12/05:
Total
Revenue UAE Dh
4,100,000 UAE Dh
4,750,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
·
Abu
Dhabi Commercial Bank
PO Box : 1843
Ajman
Tel : (971-6) 7443444
Fax : (971-6) 7443300
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion
on the credit figure of US$ 150,000:
Established
in 2003, subject is involved in the import and distribution of flexible
packaging materials, including PET, BOPP, PE and PVC films, aluminium foils and
plastic clad metal tapes.
During
the course of this investigation nothing detrimental was uncovered regarding
subject’s operating history or the manner in which payments are fulfilled. As
such the business is considered to be a fair trade risk and the above credit
figure is deemed to be within subject’s financial means.
Maximum
suggested credit figure: US$ 150,000
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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