MIRA
INFORM REPORT
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Report Date : |
30th
January, 2007 |
IDENTIFICATION
DETAILS
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Name : |
LE VENCH INTERNATIONAL LTD |
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Registered Office : |
Al
Twar Road, Dubai Airport Free Zone, PO Box: 54611, Dubai, United Arab
Emirates. |
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Country : |
United
Arab Emirates |
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Date of Incorporation : |
02.10.2004 |
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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 upholstery materials, coverings and related
accessories. |
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$
150,000 |
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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 |
LE VENCH INTERNATIONAL 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 |
2nd October 2004 |
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Trade
Licence Number |
478 |
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Membership
Number |
87464 |
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Total
Workforce |
6 |
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Line
of Business |
Distributors of upholstery materials, coverings and related accessories. |
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Financial
Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
COMPANY NAME
LE VENCH
INTERNATIONAL LTD
ADDRESS
Registered & Physical Address
Street : Al Twar Road
Area : Dubai Airport Free Zone
PO Box : 54611
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2045199
Facsimile : (971-4) 2045198
Email : mss@levench.com
Premises
Subject
operates from a small suite of offices and a warehouse that are rented and
located in the Dubai Airport Free Zone.
KEY PRINCIPALS
· Vishnuprasad H Mistry General
Manager
LEGAL FORM & OWNERS
Date of Establishment : 2nd October 2004
Legal Form : Subject is the United Arab Emirates registered branch of Le Vench
International
Ltd, a Limited Liability Company
incorporated in the British Virgin Islands.
Le Vench International 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. : 478 (Expires 1st October 2007)
Membership No. : 87464
LINE OF BUSINESS
Operations
: Engaged in the
import and distribution of upholstery materials, coverings and related
accessories.
Import
Countries :
Europe and the Far East.
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 3,870,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
·
Habib
Bank Ltd
Murshid Bazaar
PO Box : 888
Dubai
Tel :
(971-4) 2221281
Fax :
(971-4) 2284631
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 upholstery
materials, coverings and related accessories.
Local
sources report that payment obligations are met in a generally timely manner
and the operating history is clear. As such the company is deemed a fair trade
risk and the above credit figure is considered to be within subject’s financial
means.
Maximum
suggested credit figure: US$ 150,000
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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