MIRA
INFORM REPORT
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Report Date : |
08.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
LITTLE STAR SECURITIES & COMMODITIES DMCC |
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Registered Office : |
Makya Shareef Building, Al Mussala Tower, Bur Dubai, PO
Box 4068, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
06.06.2007 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Traders, Intermediaries, and
Commission Agents for General
Commodities, Gold and Exchange. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 40,000 |
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Status : |
New and Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : LITTLE STAR SECURITIES & COMMODITIES DMCC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company
Registration Date : 6th June 2007
Trade Licence Number : 30715
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 3
Activities :
Traders, intermediaries, and commission agents for
general commodities, gold and exchange.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 40,000
COMPANY NAME
LITTLE STAR SECURITIES & COMMODITIES DMCC
ADDRESS
Registered & Physical Address
Building : Makya Shareef Building, Al Mussala Tower
Area : Bur Dubai
PO Box : 4068
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 3597718
Facsimile : (971-4)
3597719
Mobile : (971-50)
7743160 / 7153968
Email : avmer@emirates.net.ae
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Dubai.
KEY PRINCIPALS
Name Position
· Janak Mer Managing
Director
· Mel
Jignesh Director
LEGAL FORM & OWNERS
Date of
Establishment : 6th
June 2007
Legal Form : Limited Liability
Company
Trade Licence No. : 30715
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s)
· Janak Mer
· Mel
Jignesh
OPERATIONS
Activities: Engaged as traders, intermediaries, and
commission agents for general commodities, gold and exchange.
Subject is a member of the Dubai Gold Commodities Exchange
(DGCX).
Import Countries: India and Europe.
Subject has a workforce of 3 employees.
FINANCIAL DATA
Subject is a newly formed business and as a result financial information
is not currently available.
BANKERS
·
Habib Bank Ltd
Trade Service
Centre
Murshid Bazaar
PO Box : 888
Dubai
Tel : (971-4)
2221281
Fax : (971-4)
2284631
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Investigations undertaken in Dubai did not reveal any sign of payment
defaults or delays during initial trading stages, and subject is believed to
meet its payment obligations in a timely manner, nevertheless, and in view of
the company’s infancy and the lack of a more consistent payment and financial
record, a measure of caution is advisable and a close monitoring of subject’s
business development is recommended.
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%)