MIRA
INFORM REPORT
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Report Date : |
29.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
AVI INTERNATIONAL LIMITED |
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Registered Office : |
Sheikh Zayed Road, Jebel Ali Free Zone, PO Box 17403, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
20.08.2002 |
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Legal Form : |
Branch of a Foreign Registered Corporation |
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Line of Business : |
Distributors of office equipment, stationery, paper, computer equipment and
related accessories. |
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$ 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : AVI INTERNATIONAL LTD
Country of Origin : British Virgin Islands
Legal Form : Branch of a Foreign Registered Corporation
Registration Date : 20th August 2002
Trade Licence Number : 3419
Membership Number : 71142
Issued Capital : UAE Dh 185,000
Paid up Capital : UAE Dh 185,000
Total Workforce : 5
Line of Business : Distributors of office equipment, stationery, paper, computer equipment and related accessories.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
AVI INTERNATIONAL LTD
ADDRESS
Registered & Physical Address
Street : Sheikh Zayed Road
Area : Jebel Ali Free Zone
PO Box : 17403
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 8835758
Facsimile : (971-4) 8835059
Email : avil17403@emirates.net.ae
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
Mohamed Salim Kashmiri General Manager
LEGAL FORM &
OWNERS
Date of Establishment : 20th August 2002
Legal Form : Subject is the United Arab Emirates registered branch of AVI International Ltd, a
Limited Liability Company incorporated in the British Virgin Islands.
AVI International Ltd
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.
Trade Licence No. : 3419 (Expires 19th August 2008)
Membership No. : 71142
Issued Capital : UAE Dh 185,000
Paid up Capital : UAE Dh 185,000
LINE OF BUSINESS
Operations : Engaged in the import and distribution of office equipment, stationery, paper, computer
equipment and
related accessories.
Import Countries :
Europe and the Far East.
Operating Trend : Steady
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 31/12/05 : Year Ending 31/12/06 :
Total Revenue UAE Dh 4,380,000 UAE Dh 4,750,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
Mashreq Bank Plc
Deira Branch
PO Box : 1250
Dubai
Tel : (971-4) 2229131 / 2221134
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 150,000:
Established in 2002, subject is involved in the import and
distribution of office equipment, stationery, paper, computer equipment and
related accessories.
Any credit amount that is to be offered to this company should be written under the name of “AVI International Ltd” and directed to the companies head office address in the British Virgin Islands.
Maximum suggested credit figure: US$ 150,000
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. |
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%)