MIRA
INFORM REPORT
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Report Date : |
31.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
SCOTT POWER
CORPORATION FZE |
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Registered Office : |
Dhaid Highway,
Saif Zone, Plot No. A3-53, P O Box 8209, Sharjah |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
25th December 1999 |
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Legal Form : |
Branch of a Foreign Registered Corporation |
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Line of Business : |
Power conditioning and power management
products. The company is also the distributor for the Gulf and African region
for leading storage battery brands. |
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 : |
Usually correct |
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Litigation : |
Clear |
SUMMARY
Company Name : SCOTT POWER CORPORATION FZE
Country of Origin : British Virgin Islands
Legal Form : Branch of a Foreign Registered Corporation
Registration Date : 25th December 1999
Industrial Licence Number : 0103000646
Total Workforce : 11
Line of Business : Power conditioning and power management products.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
SCOTT POWER
CORPORATION FZE
ADDRESS
Registered & Physical Address
Street :
Dhaid Highway
Area : Saif Zone, Plot No. A3-53
PO Box : 8209
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 5570920
Facsimile : (971-6) 5570921
Email : info@gulfups.com
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Saif Zone Area of Sharjah.
KEY PRINCIPALS
·
Ranjan
Terry General
Manager
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P V Girish Assistant
General Manager
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Aref Elias
Khan Technical
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 25th
December 1999
Legal Form :
Subject is the United Arab
Emirates registered branch of Scott Power Corporation, a
Limited Liability Company incorporated in the British Virgin Islands.
Scott Power Corporation FZE in the United Arab Emirates, operates as a Branch
of a 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 British Virgin Islands.
Industrial Licence No. : 0103000646
LINE OF BUSINESS
Operations : Subject
offers a comprehensive range of power conditioning and power management
products that include line conditioners, voltage stabilizers and emergency power
units (inverter/charger) and UPS monitoring software. The company is also the
distributor for the Gulf and African region for leading storage battery brands.
Import Countries
: Europe and GCC countries.
Subject has a
workforce of 11 employees.
FINANCIAL HIGHLIGHTS
Companies
registered in Sharjah, United Arab Emirates are not legally required to make
their accounts public and no financial information was released by the company
or submitted by outside sources.
BANKERS
·
ABN Amro Bank
PO Box : 1971
Sharjah
Tel
: (971-6) 5594900
Fax
: (971-6) 5591009
Acc No. 81039646
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 150,000:
Established in 1999,
subject is the branch of a foreign corporation, namely “Scott Power
Corporation” of the British Virgin Islands.
Any credit amount
that is to be offered to this company should be written under the name of
“Scott Power Corporation” and directed to the companies head office address in
the British Virgin Islands.
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%)