MIRA
INFORM REPORT
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Report Date : |
23.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
MIRIAN
STEEL HOLDINGS LTD |
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Registered Office : |
Jebel Ali Free
Zone, Lob No. 16, 6th Floor, Office No. 402, P O Box 6747,
Dubai |
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Country : |
United Arab
Emirates |
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Date of Incorporation : |
14th March 2004 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Engaged in the
import and distribution of steel products. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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. |
Small |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : MIRIAN STEEL HOLDINGS LTD
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company
Registration Date : 14th March 2004
Trade Licence Number : 04649
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 3
Line of Business : Import and distribution of steel products.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
MIRIAN
STEEL HOLDINGS LTD
ADDRESS
Registered & Physical Address
Location : Jebel Ali Free Zone, Lob No. 16,
6th Floor, Office No. 402
PO Box : 6747
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2283008
Facsimile : (971-4) 2274435
Email : makdubai@agnamak.com
Premises
Subject operates from
a small suite of offices that are rented and located in the Industrial Area of
Dubai.
KEY PRINCIPALS
·
Kalpesh
Patel Managing
Director
LEGAL FORM & OWNERS
Date of Establishment : 14th
March 2004
Legal Form :
Limited Liability Company
Trade Licence No. : 04649
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s)
·
Kalpesh
Patel
LINE OF BUSINESS
Operations: Engaged in the import and distribution of
steel products.
Subject has a workforce
of 3 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
·
Emirates Bank
International Ltd
Jebel Ali Free Zone Branch
PO Box: 2923
Dubai
Tel: (971-4) 8815551
Fax: (971-4) 8815545
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.
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. |
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%)