MIRA
INFORM REPORT
|
Report Date : |
22.10.2007 |
IDENTIFICATION
DETAILS
|
Name : |
SASOL MIDDLE EAST LTD |
|
|
|
|
Registered Office : |
Jebel Ali Free Zone, LOB
16, Office No. 303, P O Box – 61089,
Dubai |
|
|
|
|
Country : |
United Arab Emirates |
|
|
|
|
Date of Incorporation : |
01.07.2005 |
|
|
|
|
Legal Form : |
Free Zone Company - FZC |
|
|
|
|
Line of Business : |
Engaged in the import and
export of chemicals and solvents |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
US$ 80,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name :
SASOL MIDDLE EAST LTD
Country of Origin :
Dubai, United Arab Emirates
Legal Form :
Free Zone Establishment - FZE
Registration Date :
1st July 2005
Trade Licence Number :
2332
Issued Capital :
UAE Dh 1,000,000
Paid up Capital :
UAE Dh 1,000,000
Total Workforce :
4
Line of Business :
Import and export of chemicals and
solvents.
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
COMPANY NAME
SASOL MIDDLE EAST LTD
ADDRESS
Registered & Physical Address
Location : Jebel Ali
Free Zone, LOB 16, Office No. 303
PO Box : 61089
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 8835179 / 8068300
Facsimile : (971-4) 8835093
Email : info@ae.sasol.com
Premises
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Jebel Ali Free Zone.
KEY PRINCIPALS
Shabeer Randeera Managing
Director
LEGAL FORM &
OWNERS
Date of Establishment : 1st
July 2005
Legal Form :
Free Zone Company - FZC
Trade Licence No. : 2332
Issued Capital : UAE
Dh 1,000,000
Paid up Capital : UAE
Dh 1,000,000
Name of Shareholder
(s) Percentage
Shabeer Randeera 100%
LINE OF BUSINESS
Operations : Engaged in the import and export of chemicals and solvents.
Import Countries : India
and South Africa.
Subject has a workforce of 4 employees.
FINANCIAL HIGHLIGHTS
Companies registered in Dubai, 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
Habib Bank Ltd
Trade Service Centre
Murshid Bazaar
PO Box : 888
Dubai
Tel : (971-4) 2221281
Fax : (971-4) 2284631
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
During the course of this investigation nothing detrimental was
uncovered regarding subject’s operating history or the manner in which payments
are fulfilled. As such the company is considered to be a fair trade risk.
Maximum suggested credit figure: US$ 80,000
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average/normal. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)