MIRA
INFORM REPORT
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Report Date : |
13.06.2007 |
IDENTIFICATION DETAILS
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Name : |
LINK MIDDLE EAST
LIMITED |
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Registered Office : |
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Country : |
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Date of Incorporation : |
7th June 1988 |
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Legal Form : |
Branch of a Foreign Registered Corporation |
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Line of Business : |
Engaged in the
manufacture of wire, gabions, fencing products, gates, metal mesh, polymer compounds,
powder coatings and decorative aluminium castings. |
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$ 400,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : LINK MIDDLE EAST LIMITED
Country of Origin :
Jersey,
Legal Form : Branch of a Foreign Registered Corporation
Registration Date : 7th June 1988
Trade Licence Number : 415
Membership Number : 13813
Issued Capital : UAE Dh 600,000
Paid up Capital : UAE Dh 600,000
Total Workforce : 300
Line of Business : Manufacturers of wire, gabions, fencing products, gates, metal
mesh, polymer compounds, powder coatings and decorative
aluminium castings.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
LINK MIDDLE EAST
LIMITED
ADDRESS
Registered & Physical Address
Street :
Area : Jebel Ali Free Zone
PO Box : 16846
Town :
Country :
Telephone : (971-4) 8816750
Facsimile : (971-4) 8816250
Email : lmedubai@emirates.net.ae
Premises
Subject operates
from a large suite of offices and a factory that are rented and located in the
Jebel Ali Free Zone Area of Dubai.
KEY PRINCIPALS
·
Jayant
Krishna Gokhale General
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 7th
June 1988
Legal Form :
Subject is the United Arab
Emirates registered branch of Link Middle East
Limited, a Limited Liability Company incorporated in Jersey,
Link Middle East Limited 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 Jersey,
Trade Licence No. : 415
(Expires 28th February 2008)
Membership No. : 13813
Issued Capital : UAE Dh 600,000
Paid up Capital : UAE Dh 600,000
LINE OF BUSINESS
Operations : Engaged in the manufacture of wire,
gabions, fencing products, gates, metal mesh, polymer compounds, powder
coatings and decorative aluminium castings.
Import Countries
:
Subject has a
workforce of approximately 300 employees.
FINANCIAL HIGHLIGHTS
Companies
registered in
BANKERS
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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
Established in 1988,
subject is involved in the manufacture of wire, gabions, fencing products,
gates, metal mesh, polymer compounds, powder coatings and decorative aluminium
castings.
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$ 400,000
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%)