MIRA
INFORM REPORT
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Report Date : |
06.09.2007 |
IDENTIFICATION DETAILS
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Name : |
MAISHA MINERALS
AND METALS DMCC |
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Registered Office : |
Unit 405, 4th
Floor, Souq Al Kabir Area, |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
11th June 2005 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the import
and distribution of metals and base minerals. |
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 : MAISHA MINERALS AND METALS DMCC
Country of Origin :
Legal Form : Sole Proprietorship
Registration Date : 11th June 2005
Trade Licence Number : 30230
Membership Number : 0473
Invested Capital : UAE Dh 100,000
Total Workforce : 5
Line of Business : Distributors of metals and base minerals.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
COMPANY NAME
MAISHA MINERALS AND
METALS DMCC
ADDRESS
Registered & Physical Address
Building : Unit 405, 4th Floor
Area : Souq Al Kabir Area
PO Box : 436477
Town :
Country :
Telephone : (971-4) 2626097
Facsimile : (971-4) 2626098
Email : amitrkchaturvedi@yahoo.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Dubai.
Branch Office (s)
Location Description
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PO Box
46404 Rented
sales office
Sharjah
Tel: (971-6) 7685482 / 5536007
Fax: (971-6) 5536007
KEY PRINCIPALS
·
Amit
Chaturvedi Proprietor
& General Manager
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Vinay
Agrawal Assistant
General Manager
LEGAL FORM &
OWNERS
Date of Establishment : 11th
June 2005
Legal Form :
Mouassasa Khassa (Sole
Proprietorship)
Trade Licence No. : 30230
Membership No. : 0473
Invested Capital
: UAE Dh 100,000
Mr Amit Chaturvedi
is the sole proprietor of the business.
Note to the Legal Form
Commonly referred to as an establishment, the Company Law defines Mouassasa Khassa as the business of an individual where liability for all debts is unlimited. The business is the entire responsibility of its proprietor, who is liable for all its debts to the extent of his entire wealth. There are no legal requirements concerning the amount of capital of a sole proprietor.
LINE OF BUSINESS
Operations : Engaged in the import and distribution of
metals and base minerals.
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 31/12/06:
Total Revenue UAE Dh
4,120,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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HSBC
Bank
Deira Souk Branch
PO Box : 66
Dubai
Tel : (971-4) 2535000
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$ 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%)