MIRA
INFORM REPORT
|
Report Date : |
12.09.2007 |
IDENTIFICATION DETAILS
|
Name : |
S B INTERNATIONAL
FZC |
|
|
|
|
Registered Office : |
Murshid Bazaar,
Gold Souq, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2006 |
|
|
|
|
Date of Incorporation : |
18th July 2004 |
|
|
|
|
Legal Form : |
Free Zone Company – FZC |
|
|
|
|
Line of Business : |
Engaged in the
import, wholesale and retail of ready made garments. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
US$ 100,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name : S B INTERNATIONAL FZC
Country of Origin :
Legal Form : Free Zone Company - FZC
Registration Date : 18th July 2004
Trade Licence Number : 5000
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Total Workforce : 5
Line of Business : Import, wholesale and retail of ready made garments.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
S B INTERNATIONAL
FZC
ADDRESS
Physical Address
Location : Murshid Bazaar, Gold Souq
Town :
Country :
Telephone : (971-4) 2264182
Facsimile : (971-4) 2264184
Email :
Registered Address
Area : Saif Zone
PO Box : 8632
Town : Sharjah
Country :
Premises
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Central Business District of Dubai.
KEY PRINCIPALS
·
Penny
Panikaran Chakkapan Managing
Director
LEGAL FORM &
OWNERS
Date of Establishment : 18th
July 2004
Legal Form :
Free Zone Company - FZC
Trade Licence No. : 5000 (Valid until 29/05/2008)
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Name of Shareholder
(s) Percentage
·
Penny
Panikaran Chakkapan 100%
LINE OF BUSINESS
Operations: Engaged in the import, wholesale and retail
of ready made garments.
Import
Countries:
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 4,180,000 UAE Dh 4,400,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
·
Mashreq
Bank Plc
Deira Branch
PO Box : 1250
Tel : (971-4) 2229131 / 2221134
Fax : (971-4) 2233784
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
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)