MIRA
INFORM REPORT
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Report Date : |
5th
January, 2007 |
IDENTIFICATION
DETAILS
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Name : |
EXCEL GLOBAL LTD |
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Registered Office : |
Sheikh
Zayed Road, Jebel Ali Free Zone, PO Box: 18538, Dubai, United Arab Emirates |
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Country : |
United
Arab Emirates |
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Date of Incorporation : |
01.04.2002 |
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Legal Form : |
Branch of a Foreign Registered Corporation |
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Line of Business : |
Importer
and Distributor of metals, textiles, electronics,
tyres, paper, plastic products and precious stones. |
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$
200,000 |
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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 |
EXCEL GLOBAL LTD |
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Country
of Origin |
British Virgin Islands |
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Legal
Form |
Branch of a Foreign Registered Corporation |
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Registration
Date |
1st April 2002 |
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Trade
Licence Number |
2475 |
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Membership
Number |
66522 |
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Issued
Capital |
UAE Dh 500,000 |
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Paid
up Capital |
UAE Dh 500,000 |
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Total
Workforce |
22 |
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Line
of Business |
Distributors of metals, textiles, electronics, tyres, paper, plastic products and precious stones. |
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Financial
Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating
Trend |
Steady |
COMPANY NAME
EXCEL
GLOBAL LTD
ADDRESS
Registered & Physical Address
Street : Sheikh Zayed Road
Area : Jebel Ali Free Zone
PO Box : 18538
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 8871802
Facsimile : (971-4) 8871803
Email : excel@excelglobal.com
Premises
Subject
operates from a medium sized / suite of offices and a warehouse that are rented
and located in the Jebel Ali Free Zone of Dubai.
KEY PRINCIPALS
· Narayan Chand Kumbhat General
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1st April 2002
Legal Form : Subject is the United Arab Emirates registered branch of Excel Global
Ltd, a
Limited Liability Company
incorporated in the British Virgin Islands.
Excel Global Ltd in the United
Arab Emirates, operates as a
Branch of a Foreign
Registered Corporation.
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 the British Virgin
Islands.
Trade Licence No. : 2475 (Expires 31st March 2007)
Membership No. : 66522
Issued
Capital : UAE Dh 500,000
Paid
up Capital : UAE Dh 500,000
LINE OF BUSINESS
Operations
: Engaged in the
import and distribution of metals, textiles, electronics, tyres, paper, plastic
products and precious
stones.
Import
Countries :
Europe and the Far East.
Operating
Trend : Steady
Subject
has a workforce of 22 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
6,370,000 UAE
Dh 6,800,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
·
Standard
Chartered Bank
Khalid Bin Waleed Street
PO Box : 999
Dubai
Tel : (971-4) 2520455
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 metals,
textiles, electronics, tyres, paper, plastic products and precious stones.
Any
credit amount that is to be offered to this company should be written under the
name of “Excel Global Ltd” and directed to the companies head office address in
the British Virgin Islands.
Maximum
suggested credit figure: US$ 200,000
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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