MIRA
INFORM REPORT
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Report Date : |
25.10.2007 |
IDENTIFICATION DETAILS
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Name : |
PAN ARAB GENERAL TRADING CO FZC |
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Registered Office : |
Ajman Free Zone, Block D, Office No. 25, P O Box – 1990, |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
1989 |
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Com. Reg. No.: |
39 |
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Legal Form : |
Free Zone Company - FZC |
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Line of Business : |
Engaged in the import and distribution of general foodstuff
products, electronic products and household consumables. |
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 : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name :
PAN ARAB GENERAL TRADING CO FZC
Country of Origin :
Legal Form :
Free Zone Company - FZC
Registration Date :
1989
Trade Licence Number :
39
Issued Capital :
UAE Dh 1,000,000
Paid up Capital : UAE Dh
1,000,000
Total Workforce :
5
Line of Business :
Distributors of general foodstuff products, electronic products and
household consumables.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
COMPANY NAME
PAN ARAB GENERAL TRADING CO FZC
ADDRESS
Registered & Physical Address
Location :
PO Box : 1990
Town :
Country :
Telephone : (971-6) 7426444
Facsimile : (971-6)
7425166
Email : babuimpex@emirates.net.ae
Premises
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Ajman Free Zone Area.
KEY PRINCIPALS
Mohini Ishawr Sapara Managing
Director
Patish Power General
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 1989
Legal Form :
Free Zone Company - FZC
Trade Licence No. : 39
Issued Capital : UAE
Dh 1,000,000
Paid up Capital : UAE
Dh 1,000,000
Name of Shareholder
(s) Percentage
Mohini Ishawr Sapara 100%
Note to the Legal Form
A Free Zone Company (FZC) 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
Babu Impex Trading LLC
PO Box : 45976
Tel : (971-4) 2265899
Fax : (971-4) 2254040
LINE OF BUSINESS
Operations :
Engaged in the import and distribution of general foodstuff products,
electronic products
and household consumables.
Import Countries :
Europe and the
Operating Trend :
Steady
Subject has a workforce of 5 employees.
FINANCIAL
HIGHLIGHTS
Financial highlights provided by outside sources are given below :
Currency :
Year
Ending 31/12/05 : Year
Ending 31/12/06 :
Total Revenue UAE
Dh 5,290,000 UAE
Dh 5,350,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
National Bank of
PO Box : 988
Tel : (971-6) 5422996
Fax : (971-6) 5425750
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 150,000:
Established in 1989, subject is involved in the import and distribution
of general foodstuff products, electronic products and household consumables.
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 business is considered to be a fair trade risk and
the above credit figure is deemed to be within subject’s financial means.
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%)