MIRA
INFORM REPORT
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Report Date : |
16.05.2007 |
IDENTIFICATION DETAILS
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Name : |
STRATEGIC
INTERNATIONAL FZCO |
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Registered Office : |
LB 1, 6406-A09,
Jebel Ali Free Zone, |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
2nd July 2005 |
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Legal Form : |
Free Zone Company – FZCO |
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Line of Business : |
Engaged in the import
and distribution of ready made garments, foodstuffs and building materials. |
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 : STRATEGIC INTERNATIONAL FZCO
Country of Origin :
Legal Form : Free Zone Company - FZCO
Registration Date : 2nd July 2005
Trade Licence Number : 06321
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Total Workforce : 6
Line of Business : Distributors of ready made garments, foodstuffs and building
materials.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
COMPANY NAME
STRATEGIC
INTERNATIONAL FZCO
ADDRESS
Registered & Physical Address
Location : LB 1, 6406-A09
Area : Jebel Ali Free Zone
PO Box : 62996
Town :
Country :
Telephone : (971-4) 3522036
Facsimile : (971-4) 3521644
Email : mail@strategic-me.com
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Jebel Ali Free Zone Area of Dubai.
KEY PRINCIPALS
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Poushpa
Narayan Director
LEGAL FORM &
OWNERS
Date of Establishment : 2nd
July 2005
Legal Form :
Free Zone Company - FZCO
Trade Licence No. : 06321
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Name of Shareholder
(s)
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·
Poushpa
Narayan
Note to the Legal Form
A Free Zone Company (FZCO) is a Private Limited Liability Company, with its liability determined by the amount of paid-up capital. The minimum share capital currently stands at UAE Dh 1,000,000.
This legal form allows for 100 percent foreign ownership within the United Arab Emirates and allows foreign companies to maintain a presence in the UAE (within the free zone), without the usual requirement of a local sponsor that would hold majority ownership, ie minimum of 51 % equity in the capital.
AFFILIATED COMPANIES
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Strategic
Marketing Services LLC
PO Box : 62996
Tel : (971-4) 3522036
Fax : (971-4) 3521644
LINE OF BUSINESS
Operations : Engaged in the import and distribution of
ready made garments, foodstuffs and building materials.
Import Countries
: Europe and the
Subject has a
workforce of 6 employees.
FINANCIAL HIGHLIGHTS
Financial highlights
provided by outside sources are given below :
Currency :
Year
Ending 31/12/06 :
Total Revenue UAE Dh
3,260,000
Local sources
consider subject’s financial condition to be Fair.
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
Opinion on the
credit figure of US$ 150,000:
Established in 2005,
subject is owned and managed by Mr Ravi Naryan Subramanyan and Mr Poushpa Narayan who are both well
respected in the local business community.
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.
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%)