MIRA
INFORM REPORT
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Report Date : |
16.01.2007 |
IDENTIFICATION DETAILS
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Name : |
WESLEY
INTERNATIONAL LIMITED |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
1st July 1993 |
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Legal Form : |
Branch of a Foreign Registered
Corporation |
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Line of Business : |
Engaged
in the import and distribution of razors, shaving foam, combs and manicure
kits. |
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
Company Name : WESLEY INTERNATIONAL LIMITED
Country of Origin :
Legal Form : Branch of a Foreign Registered Corporation
Registration Date : 1st July 1993
Trade Licence Number : 827
Membership Number : 27666
Issued Capital : UAE Dh 7,000,000
Paid up Capital : UAE Dh 7,000,000
Total Workforce : 25
Line of Business : Distributors of razors, shaving foam, combs and manicure kits.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
WESLEY
INTERNATIONAL LIMITED
ADDRESS
Registered & Physical
Address
Street :
Area : Jebel Ali Free Zone
PO Box : 17113
Town :
Country :
Telephone : (971-4) 8836150
Facsimile : (971-4) 8836365
Email : wesleycu@emirates.net.ae
Premises
Subject
operates from a small suite of offices and a warehouse that are rented and located
in the Jebel Ali Free Zone Area of Dubai.
KEY PRINCIPALS
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Ajay Kumar Bindroo General
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1st July 1993
Legal Form : Subject is the United Arab Emirates registered branch of Wesley International
Limited, a Limited Liability Company
incorporated in the
Wesley International Limited in
the
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
Trade Licence No. : 827 (Expires 31st March 2007)
Membership No. : 27666
Issued
Capital : UAE Dh 7,000,000
Paid
up Capital : UAE Dh 7,000,000
LINE OF BUSINESS
Operations
: Engaged in the
import and distribution of razors, shaving foam, combs and manicure kits.
Import
Countries :
Europe and the
Operating
Trend : Steady
Subject
has a workforce of 25 employees.
FINANCIAL HIGHLIGHTS
Financial
highlights provided by outside sources are given below :
Currency
:
Year
Ending 31/12/04 : Year
Ending 31/12/05 :
Total
Revenue UAE Dh
6,280,000 UAE
Dh 6,750,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
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HSBC Bank
Deira Souk Branch
PO Box : 66
Tel : (971-4) 2535000
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Established
in 1993, subject is involved in the import and distribution of razors, shaving
foam, combs and manicure kits.
Any
credit amount that is to be offered to this company should be written under the
name of “Wesley International Limited” and directed to the companies head
office address in the
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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