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MIRA
INFORM REPORT
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Report Date : |
24th
January, 2007 |
IDENTIFICATION
DETAILS
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Name : |
CRESCENT GROUP TRADING FZCO (CGT) |
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Registered Office : |
Sheikh
Zayed Road, Jebel Ali Free Zone, P O Box: 40914, Dubai, United Arab Emirates. |
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Country : |
United
Arab Emirates |
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Date of Incorporation : |
14.05.2000 |
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Legal Form : |
Free
Zone Company - FZCO |
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Line of Business : |
Engaged
in the import and distribution of steel products, building materials and
heavy machinery. |
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 |
CRESCENT GROUP TRADING FZCO (CGT) |
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Country
of Origin |
Dubai, United Arab Emirates |
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Legal
Form |
Free Zone Company - FZCO |
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Registration
Date |
14th May 2000 |
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Trade
Licence Number |
2474 |
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Membership
Number |
47597 |
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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 |
15 |
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Line
of Business |
Distributors of steel products, building materials and heavy machinery. |
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Financial
Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating
Trend |
Steady |
COMPANY NAME
CRESCENT
GROUP TRADING FZCO (CGT)
ADDRESS
Registered & Physical Address
Street : Sheikh Zayed Road
Area : Jebel Ali Free Zone
PO Box : 40914
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 8811017
Facsimile : (971-4) 8811090
Email : cgtdubai@emirates.net.ae
Premises
Subject
operates from a small large suite of offices and a warehouse that are rented
and located in the Jebel Ali Free Zone.
KEY PRINCIPALS
Name Nationality Position
· Amirreza Ali Shekarriz Iranian Managing Director
LEGAL FORM & OWNERS
Date of Establishment : 14th May 2000
Legal Form : Free Zone Company - FZCO
Trade Licence No. : 2474 (Expires 13th May 2007)
Membership No. : 47597
Issued
Capital : UAE Dh 1,000,000
Paid
up Capital : UAE Dh 1,000,000
Name of Shareholder (s) Percentage
· Amirreza Ali Shekarriz 100%
Note to the Legal Form
A Free Zone Company (FZCO) 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 steel products, building materials and heavy
machinery.
Import
Countries :
Europe and GCC countries.
Operating
Trend : Steady
Subject
has a workforce of 15 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
4,670,000 UAE
Dh 4,700,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
·
Bank
Saderat Iran
Al Maktoum
PO Box : 4182
Dubai
Tel : (971-4) 2221161
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Established
in 2000, subject is involved in the import and distribution of steel products,
building materials and heavy machinery.
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
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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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