MIRA
INFORM REPORT
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Report Date : |
17.07.2007 |
IDENTIFICATION DETAILS
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Name : |
JMK MARKETING |
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Registered Office : |
Old Industrial Area, |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
13th April 2004 |
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Com. Reg. No.: |
27621, |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the import and distribution of beer, wine and other alcoholic
beverages. |
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 : JMK MARKETING
Country of Origin :
Legal Form : Sole Proprietorship
Registration Date : 13th April 2004
Commercial Registration Number :
27621,
Trade Licence Number : 37248
Membership Number : 1391277
Invested Capital : UAE Dh 50,000
Total Workforce : 25
Line of Business : Distributors of beer, wine and other alcoholic beverages.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
JMK MARKETING
ADDRESS
Registered & Physical Address
Location : Old Industrial
Area
PO Box : 2808
Town :
Country :
Telephone : (971-6) 7400801
Facsimile : (971-6) 7400806
Email : gk@jmdexim.com
Premises
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Industrial Area of Ajman.
KEY PRINCIPALS
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Gautam
Khanna Proprietor
& General Manager
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George
Thomas Assistant
General Manager
LEGAL FORM &
OWNERS
Date of
Establishment : 13th
April 2004
Legal Form : Mouassasa Khassa
(Sole Proprietorship)
Commercial Reg.
No. : 27621,
Trade Licence No. : 37248
Membership No. : 1391277
Invested Capital : UAE Dh 50,000
Mr Gautam Khanna
is the sole proprietor of the business.
Note to the Legal Form
Commonly referred to as an establishment, the Company Law defines
Mouassasa Khassa as the business of an individual where liability for all debts
is unlimited. The business is the entire responsibility of its proprietor, who
is liable for all its debts to the extent of his entire wealth. There are no
legal requirements concerning the amount of capital of a sole proprietor.
LINE OF BUSINESS
Operations : Engaged in the import and distribution of beer, wine
and other alcoholic beverages.
Import Countries :
Operating Trend : Steady
Subject has a workforce of 25 employees.
FINANCIAL HIGHLIGHTS
Financial highlights provided by outside sources are given below :
Currency :
Year
Ending 31/12/05 : Year
Ending 31/12/06 :
Total Revenue UAE Dh
4,275,000 UAE
Dh 4,900,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
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National Bank of
PO Box : 988
Tel : (971-6)
5422996
Fax : (971-6)
5425750
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in 2004, subject is involved in the import and distribution
of beer, wine and other alcoholic beverages.
Local sources report that the subject’s operating history is clear with
payment obligations met in a generally timely manner. The financial position is
satisfactory and the business is deemed 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%)