MIRA
INFORM REPORT
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Report Date : |
10.07.2007 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Saif Zone, |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
2nd November 2002 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Engaged in the import and
export of metals and metallurgical equipment. |
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
Company Name :
Country of Origin :
Legal Form :
Limited Liability Company
Registration Date :
2nd November 2002
Trade Licence Number :
1550
Membership Number :
700336
Issued Capital :
UAE Dh 100,000
Paid up Capital :
UAE Dh 100,000
Total Workforce :
5
Line of Business :
Import and export of metals and
metallurgical equipment.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
COMPANY NAME
ADDRESS
Registered & Physical Address
Location : Saif Zone
PO Box : 8685
Town : Sharjah
Country :
Telephone : (971-6) 5572104
Facsimile : (971-6) 5572105
Email : karsmet@emirates.net.ae
Premises
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Saif Zone, Sharjah.
KEY PRINCIPALS
· Snevan Setaram Managing
Director
· Roshan Ali Director
LEGAL FORM &
OWNERS
Date of
Establishment : 2nd
November 2002
Legal Form : Limited Liability
Company
Trade Licence No. : 1550
(Valid until 26/03/2008)
Membership No. : 700336
Issued Capital : UAE Dh 100,000
Paid up Capital : UAE Dh 100,000
Name of Shareholder
(s)
· Snevan Setaram
· Roshan Ali
LINE OF BUSINESS
Operations: Engaged in the import and
export of metals and metallurgical equipment.
Import Countries: France and the
Operating Trend: Steady
Subject has a workforce of 5 employees.
FINANCIAL HIGHLIGHTS
Financial highlights provided by outside sources are given below :
Currency :
Year
Ending 31/12/05: Year
Ending 31/12/06:
Total Revenue UAE
Dh 4,100,000 UAE Dh
4,340,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
·
The Standard Chartered Bank
PO Box : 5
Sharjah
Tel : (971-6) 5357788
Fax : (971-6) 5335500
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 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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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%)