MIRA
INFORM REPORT
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Report Date : |
10.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
BRAMPTON GARMENTS TRADING LLC |
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Registered Office : |
New Industrial Area, PO Box 5341, Ajman |
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Country : |
United Arab Emirates |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
1995 |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Retailers of Readymade Garments,
Cloth and Textiles for Ladies, Gents and Children. |
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$ 200,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : BRAMPTON GARMENTS TRADING LLC
Country of Origin : Ajman, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 1995
Trade Licence Number : 36106
Chamber Membership Number : 33031
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Total Workforce : 4
Activities :
Retailers of readymade garments, cloth and textiles
for ladies, gents and children.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
COMPANY NAME
BRAMPTON GARMENTS TRADING LLC
ADDRESS
Registered & Physical Address
Location : New
Industrial Area
PO Box : 5341
Town : Ajman
Country : United Arab
Emirates
Telephone : (971-6) 7482670
/ 7482645
Facsimile : (971-6) 7482671
Email : brampton@eim.ae
Premises
Subject operates from a small suite of offices, a warehouse and a
showroom that are rented and located in the Industrial Area of Ajman.
KEY PRINCIPALS
Name Nationality Position
· Devan
Muriledar Indian Managing
Director
· Khalid
Moustafa Emirati Director
· M.
Venod - Sales
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 1995
Legal Form : Limited Liability Company
- LLC
Trade Licence No. : 36106
Chamber Member No. : 33031
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Name of Shareholder (s) Percentage
· Khalid
Moustafa 51%
· Devan
Muriledar 49%
OPERATIONS
Activities: Engaged as retailers of readymade garments,
cloth and textiles for ladies, gents and children.
Import Countries: Pakistan, China and India.
Operating Trend: Steady
Subject has a workforce of 4 employees.
FINANCIAL DATA
Financial highlights provided by local sources are given below:
Currency: United Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/06: Year
Ending 31/12/07:
Sales UAE
Dh 6,000,000 UAE Dh
7,500,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
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HSBC Bank Middle East
Main Branch
Ajman
Tel : (971-6)
5537222
Fax : (971-6)
5537880
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 and the
above credit figure is within subject’s financial means.
The financial information contained in the report has been confirmed by
Mr M. Venod – Sales Manager.
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%)