MIRA
INFORM REPORT
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Report Date : |
1st
January, 2007 |
IDENTIFICATION
DETAILS
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Name : |
WORLD
WIDE TRADING FZC |
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Registered Office : |
Sharjah
Free Zone, PO Box: 8586, Sharjah, United Arab Emirates |
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Country : |
United
Arab Emirates |
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Date of Incorporation : |
08.12.2004 |
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Legal Form : |
Free
Zone Company - FZC |
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Line of Business : |
Importer
and Distributor of scrap metals. |
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$
100,000 |
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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 |
WORLD WIDE TRADING FZC |
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Country
of Origin |
Sharjah, United Arab Emirates |
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Legal
Form |
Free Zone Company - FZC |
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Registration
Date |
8th December 2004 |
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Trade
Licence Number |
2184 |
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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 |
6 |
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Line
of Business |
Distributors of scrap metals. |
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Financial
Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating
Trend |
Steady |
COMPANY NAME
WORLD
WIDE TRADING FZC
ADDRESS
Registered & Physical Address
Location : Sharjah Free Zone
PO Box : 8586
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 5586737
Facsimile : (971-6) 5586738
Mobile : (971-50) 5589276
Premises
Subject
operates from a small suite of offices and a warehouse that are rented and
located in the Free Zone Area of Sharjah.
KEY PRINCIPALS
· Vihor Gupta Managing
Director
· Mohamed Diya Eddine Director
LEGAL FORM & OWNERS
Date of Establishment : 8th December 2004
Legal Form : Free Zone Company - FZC
Trade Licence No. : 2184
Issued
Capital : UAE Dh 1,000,000
Paid
up Capital : UAE Dh 1,000,000
Name of Shareholder (s)
· Vihor Gupta
· Mohamed Diya Eddine
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 scrap metals.
Import
Countries :
Europe and GCC countries.
Operating
Trend : Steady
Subject
has a workforce of 6 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
3,150,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
·
Emirates
Bank International Ltd
Immigration Road
PO Box : 25090
Sharjah
Tel :
(971-6) 5733300
Fax :
(971-6) 5730077
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 scrap metals.
According to local sources subject is making steady progress
in the local business market and nothing detrimental has been reported
regarding the manner in which payments are fulfilled.
The
above credit figure is higher than transactions previously seen and a measure
of caution would be prudent.
Maximum
suggested credit figure: US$ 100,000
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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