MIRA
INFORM REPORT
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Report Date : |
01.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
STARFISH TRADING FZE |
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Registered Office : |
Ajman Free Zone, Plot No. A1 – 321, PO Box 12626,
Ajman |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
01.02.2005 |
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Com. Reg. No.: |
1772, Ajman |
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Legal Form : |
Free Zone Establishment - FZE |
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Line of Business : |
Import, Distribution and Export
of Frozen Seafood 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$ 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 : STARFISH TRADING FZE
Country of Origin : Ajman, United Arab Emirates
Legal Form : Free Zone Establishment - FZE
Registration Date : 1st February 2005
Trade Licence Number : 1772, Ajman
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Total Workforce : 4
Activities : Import, distribution and export of frozen seafood products.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 150,000
COMPANY NAME
STARFISH TRADING FZE
ADDRESS
Registered & Physical Address
Location : Ajman Free Zone, Plot No. A1 - 321
PO Box : 12626
Town : Ajman
Country : United Arab
Emirates
Telephone : (971-6) 7428738
Facsimile : (971-6) 7428735
Mobile : (971-50) 6344734
Email : info@starfishfze.com
Premises
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Ajman Free Zone.
KEY PRINCIPALS
Name Position
· Celestine
Augustine Managing
Director
· Arul
Augustine Director
LEGAL FORM & OWNERS
Date of
Establishment : 1st
February 2005
Legal Form : Free Zone
Establishment - FZE
Trade Licence No. : 1772, Ajman
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Name of Shareholder (s)
· Celestine
Augustine
· Arul
Augustine
OPERATIONS
Activities: Engaged in the import, distribution and
export of frozen seafood products.
Import Countries: India
Subject has a workforce of 4 employees.
FINANCIAL DATA
Companies registered in Ajman, United Arab Emirates are not legally
required to make their accounts public and no financial information was
released by the company or submitted by outside sources.
BANKERS
·
HSBC Bank Middle East
Al Arooba Street
PO Box : 25
Sharjah
Tel : (971-6)
5537222
Fax : (971-6)
5537880
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 150,000:
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 and
the above credit figure is within subject’s financial means.
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%)