MIRA
INFORM REPORT
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Report Date : |
5th
January, 2007 |
IDENTIFICATION
DETAILS
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Name : |
LIBERTY
GENERAL TRADING FZE |
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Registered Office : |
Ajman
Free Zone, PO Box: 151277, Ajman, United Arab Emirates. |
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Country : |
United
Arab Emirates |
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Date of Incorporation : |
02.03.2005 |
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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 ferrous and non-ferrous metals. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$
60,000 |
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Status : |
New
Company |
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Payment Behaviour : |
No
Complaints |
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Litigation : |
Clear |
SUMMARY
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Company
Name |
LIBERTY GENERAL TRADING FZE |
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Country
of Origin |
Sharjah, United Arab Emirates |
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Legal
Form |
Free Zone Establishment - FZE |
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Registration
Date |
2nd March 2005 |
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Trade
Licence Number |
1853 |
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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 |
5 |
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Line
of Business |
Distributors of ferrous and non-ferrous metals. |
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Financial
Condition |
Undetermined |
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Payments |
Nothing detrimental uncovered |
COMPANY NAME
LIBERTY
GENERAL TRADING FZE
ADDRESS
Registered & Physical Address
Location : Ajman Free Zone
PO Box : 151277
Town : Ajman
Country : United Arab Emirates
Telephone : (971-6) 5351982
Facsimile : (971-6) 5351981
Email : liberty4trade@yahoo.com
Premises
Subject
operates from a small suite of offices and a warehouse that are rented and
located in the Ajman Free Zone.
KEY PRINCIPALS
· Nayla Imtiyaz Managing
Director
· Ahmed Imtiyaz General
Manager
LEGAL FORM & OWNERS
Date of Establishment : 2nd March 2005
Legal Form : Mouassasat Al Mintaka Al Horra (Free Zone Establishment - FZE)
Trade Licence No. : 1853
Issued
Capital : UAE Dh 1,000,000
Paid
up Capital : UAE Dh 1,000,000
Name of Shareholder (s)
Percentage
· Nayla Imtiyaz 100%
Note to the Legal Form
A Free Zone Establishment (FZE) 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.
AFFILIATED COMPANIES
· Ghantout Metal Trading LLC
PO Box : 151277
Ajman
Tel
: (971-6) 5351982
Fax
: (971-6) 5351981
· Ghantout Scrap Co LLC
PO Box : 151277
Ajman
Tel
: (971-6) 5351982
Fax
: (971-6) 5351981
LINE OF BUSINESS
Operations
: Engaged in the
import and distribution of ferrous and non-ferrous metals, including steel,
copper and brass.
Import
Countries :
Europe and GCC countries.
Subject
has a workforce of 5 employees.
FINANCIAL HIGHLIGHTS
Subject
is a newly formed business and as a result financial information is not
currently available.
BANKERS
·
Habib
Bank AG Zurich
Immigration Road
PO Box : 1166
Sharjah
Tel : (971-6) 5730004
Acc No. 228-20311-105-351291
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Investigations
undertaken in Ajman did not reveal any sign of payment defaults or delays
during initial trading stages, and subject is believed to meet its payment
obligations in a timely manner, nevertheless, and in view of the company’s
infancy and the lack of a more consistent payment and financial record, a
measure of caution is advisable and a close monitoring of subject’s business
development is recommended.
Maximum
suggested credit figure: US$ 60,000
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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