MIRA
INFORM REPORT
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Report Date : |
22.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
BAJAJ INTERNATIONAL PVT LTD |
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Registered Office : |
Saif Zone, Plot No. A4-79, P O Box 8575, Sharjah |
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Country : |
United Arab
Emirates |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
18.09.2005 |
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Legal Form : |
Free Zone Company
- FZC |
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Line of Business : |
Engaged in the
import and distribution of electrical and electronic equipment and appliances |
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 : BAJAJ INTERNATIONAL PVT LTD
Country of Origin : Sharjah, United Arab Emirates
Legal Form : Free Zone Company - FZC
Registration Date : 18th September 2005
Trade Licence Number : 3325
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Total Workforce : 5
Line of Business : Import and distribution of electrical and electronic equipment
and appliances.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
COMPANY NAME
BAJAJ INTERNATIONAL PVT LTD
ADDRESS
Registered & Physical Address
Location : Saif
Zone, Plot No. A4-79
PO Box : 8575
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 5570973
Facsimile : (971-6) 5570974
Email : kvpuae@bajajho.com
Premises
Subject operates
from a small suite of offices, a warehouse and a showroom that are rented and
located in the Saif Zone.
KEY PRINCIPALS
·
Krishna
Veno Ghopal Prasad General
Manager
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Tate John Finance
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 18th
September 2005
Legal Form :
Free Zone Company - FZC
Trade Licence No. : 3325
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Name of Shareholder
(s) Percentage
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Bajaj
International Pvt Ltd 100%
LINE OF BUSINESS
Operations: Engaged in the import and distribution of
electrical and electronic equipment and appliances.
Import
Countries: India
Subject has a
workforce of 5 employees.
FINANCIAL HIGHLIGHTS
Financial
highlights provided by outside sources are given below :
Currency : United
Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/06:
Total Revenue UAE Dh
3,000,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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Habib Bank Ltd
PO Box : 300
Sharjah
Tel : (971-6) 5356116
Fax : (971-6) 5526473
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 150,000
Bajaj International Pvt
Ltd is a relatively new
business with operations commencing in September 2005. It is engaged in the
import and distribution of electrical and electronic equipment and appliances.
According to local sources subject is making steady progress in the local business market and nothing detrimental has been reported regarding the manner in which payments are fulfilled. As such the business is considered to be a fair trade risk.
The above credit
figure is higher than transactions previously seen and a measure of caution would
be prudent given the lack of financial and payment due to the short operating
history.
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%)