MIRA
INFORM REPORT
|
Report Date : |
1st
January, 2007 |
IDENTIFICATION
DETAILS
|
Name : |
NIPPON
GULF INTERNATIONAL FZC |
|
|
|
|
Registered Office : |
Hamriya
Free Zone, PO Box: 41533, Sharjah, United Arab Emirates |
|
|
|
|
Country : |
United
Arab Emirates |
|
|
|
|
Date of Incorporation : |
01.09.2002 |
|
|
|
|
Legal Form : |
Free
Zone Company - FZC |
|
|
|
|
Line of Business : |
Engaged
in the import and distribution of dyeing chemicals, pigments, refrigerants, insulation
materials and ready made garments. |
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$
100,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
SUMMARY
|
Company
Name |
NIPPON GULF INTERNATIONAL FZC |
|
Country
of Origin |
Sharjah, United Arab Emirates |
|
Legal
Form |
Free Zone Company - FZC |
|
Registration
Date |
1st September 2002 |
|
Trade
Licence Number |
1330 |
|
Issued
Capital |
UAE Dh 1,000,000 |
|
Paid
up Capital |
UAE Dh 1,000,000 |
|
Total
Workforce |
10 |
|
Line
of Business |
Distributors of dyeing chemicals, pigments, refrigerants, insulation materials and ready made garments. |
|
Financial
Condition |
Fair |
|
Payments |
Nothing detrimental uncovered |
|
Operating
Trend |
Steady |
COMPANY NAME
NIPPON GULF
INTERNATIONAL FZC
ADDRESS
Registered & Physical Address
Location : Hamriya Free Zone
PO Box : 41533
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 5263992
Facsimile : (971-6) 5263994
Email : nippon@emirates.net.ae
Premises
Subject
operates from a small suite of offices and a warehouse that are rented and
located in the Hamriyah Free Zone Area of Sharjah.
KEY PRINCIPALS
· Mahmoud Salam Managing
Director
LEGAL FORM & OWNERS
Date of Establishment : 1st September 2002
Legal Form : Free Zone Company - FZC
Trade Licence No. : 1330
Issued
Capital : UAE Dh 1,000,000
Paid
up Capital : UAE Dh 1,000,000
Name of Shareholder (s)
Percentage
· Mahmoud Salam 100%
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.
LINE OF BUSINESS
Operations
: Engaged in the
import and distribution of dyeing chemicals, pigments, refrigerants,
insulation materials and
ready made garments.
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
4,700,000 UAE
Dh 5,400,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
·
United
Bank Ltd
PO Box : 699
Sharjah
Tel : (971-6) 5682094
Fax : (971-6) 5683245
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Established
in 2002, subject is involved in the import and distribution of dyeing
chemicals, pigments, refrigerants, insulation materials and ready made garments.
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 company is considered to be a fair trade risk.
Maximum
suggested credit figure: US$ 100,000
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 |
|