MIRA
INFORM REPORT
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Report Date : |
27.10.2007 |
IDENTIFICATION DETAILS
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Name : |
TRANSFERT FZCO |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
1988 |
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Legal Form : |
Free Zone Company – FZCO |
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Line of Business : |
Engaged in the
import and distribution of fertilisers, agrochemicals, building materials and
general foodstuff products. |
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 : TRANSFERT FZCO
Country of Origin :
Legal Form : Free Zone Company - FZCO
Start Date : 1988
Registration Date : 24th October 1995
Trade Licence Number : 897
Membership Number : 36015
Issued Capital : UAE Dh 540,000
Paid up Capital : UAE Dh 540,000
Total Workforce : 9
Line of Business : Distributors of fertilisers, agrochemicals, building materials and
general foodstuff products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
TRANSFERT LIMITED
ADDRESS
Registered & Physical Address
Street :
Area : Jebel Ali Free Zone
PO Box : 17243
Town :
Country :
Telephone : (971-4) 8815913
Facsimile : (971-4) 8816717
Email : tfert@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.
Branch Office (s)
Location Description
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15C
Tel: (971-4) 2211498
Fax: (971-4) 2235628
KEY PRINCIPALS
Name Nationality Position
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Siraj
Rahimtula Indian Managing
Director
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Jane
Desouza - Commercial
Manager
LEGAL FORM &
OWNERS
Date of Establishment : Subject’s
operations date back to 1988, however it was registered on 24th
October 1995
Legal Form :
Free Zone Company - FZCO
Trade Licence No. : 897
(Expires 9th October 2007)
Membership No. : 36015
Issued Capital : UAE Dh 540,000
Paid up Capital : UAE Dh 540,000
Name of Shareholder
(s) Percentage
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Transfert
Ltd 100%
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.
LINE OF BUSINESS
Operations : Engaged in the import and distribution of fertilisers,
agrochemicals, building materials and general foodstuff products.
Import Countries
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Operating Trend
: Steady
Subject has a
workforce of 9 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 3,180,000 UAE Dh
3,600,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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Standard
Chartered Bank
PO Box : 999
Tel
: (971-4) 2520455
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in 1988,
subject is involved in the import and distribution of fertilisers,
agrochemicals, building materials and general foodstuff products.
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$ 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. |
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%)