MIRA
INFORM REPORT
|
Report Date : |
05.07.2007 |
IDENTIFICATION DETAILS
|
Name : |
|
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
28th October 1996 |
|
|
|
|
Legal Form : |
Branch of a Foreign Registered Corporation |
|
|
|
|
Line of Business : |
Engaged in the
import and export of cigarettes, steel products and raw materials, plastics, textiles,
tyres and consumer goods. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
US$ 50,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name :
Country of Origin :
Legal Form : Branch of a Foreign Registered Corporation
Registration Date : 28th October 1996
Trade Licence Number : 1164
Membership Number : 40793
Total Workforce : 5
Line of Business : Import and export of cigarettes, steel products and raw
materials, plastics, textiles, tyres and consumer goods.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
ADDRESS
Registered & Physical Address
Street :
Area : Jebel Ali Free Zone
PO Box : 17045
Town :
Country :
Telephone : (971-4) 8836889
Facsimile : (971-4) 8836891
Email : taurani@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,
KEY PRINCIPALS
Name Nationality Position
·
Anil
Munish Kumar Rajan Twrani Indian Managing Director
LEGAL FORM &
OWNERS
Date of Establishment : 28th
October 1996
Legal Form :
Subject is the United Arab
Emirates registered branch of Del Ani Holdings Ltd, a
Limited Liability Company incorporated in
the
Del Ani Holdings Ltd in the
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. : 1164
(Valid until 14/09/2007)
Membership No. : 40793
LINE OF BUSINESS
Operations: Engaged in the import and export of
cigarettes, steel products and raw materials, plastics, textiles, tyres and
consumer goods.
Import
Countries:
Subject has a workforce
of 5 employees.
FINANCIAL HIGHLIGHTS
No financial
information was released by the company or submitted by outside sources.
BANKERS
·
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
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 business
is considered to be a fair trade risk.
Maximum suggested
credit figure: US$ 50,000
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems comparatively
below average/normal. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)