MIRA
INFORM REPORT
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Report Date : |
09.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
M S STEEL INTERNATIONAL FZCO |
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Registered Office : |
Banks Building, 2nd Floor, Office No. 212, Banks Street,
Bur Dubai, PO Box 49851, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
01.09.2005 |
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Legal Form : |
Free Zone Company
- FZCO |
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Line of Business : |
Import and
Distribution of Metals, including Steel and Copper. |
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 : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : M S STEEL INTERNATIONAL
FZCO
Country of Origin : Dubai,
United Arab Emirates
Legal Form :
Free Zone Company - FZCO
Registration Date : 1st
September 2005
Trade Licence Number : 6440, Jebel Ali
Free Zone
Issued Capital : UAE Dh
1,000,000
Paid up Capital : UAE Dh 1,000,000
Total Workforce : 5
Activities :
Import and distribution of metals, including steel and copper.
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
Recommended Credit
Limit : US$ 100,000
COMPANY NAME
M S STEEL INTERNATIONAL FZCO
ADDRESS
Registered & Physical Address
Building : Banks
Building, 2nd Floor, Office No. 212
Street : Banks Street
Location : Bur Dubai
PO Box : 49851
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 3592080
Facsimile : (971-4)
3594441
Email : gsmllc@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
· Danesh Agrawal Managing
Director
· D Banarjee Administration
Manager
· Ms
Janeth Frenandes Administrative
Secretary
LEGAL FORM & OWNERS
Date of
Establishment : 1st
September 2005
Legal Form : Free Zone Company
- FZCO
Trade Licence No. : 6440, Jebel Ali Free Zone
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Name of Shareholder (s) Percentage
· Danesh Agrawal 100%
OPERATIONS
Activities: Engaged in the import and distribution of metals, including steel and
copper.
Import Countries: Europe and GCC countries.
Subject has a workforce of 5 employees.
FINANCIAL DATA
Companies registered in Dubai, 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
Deira Souk Branch
PO Box :
66
Dubai
Tel :
(971-4) 2535000
·
Banque Cantonale Vaudoise
1001 Lausanne
Switzerland
Tel: (41-21) 2121000
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in 2005, subject is involved in the import and distribution
of metals, including steel and copper.
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 business is considered to be a fair trade risk.
Please note that the correct registered style of
the subject is “M S Steel International FZCO”
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%)