MIRA
INFORM REPORT
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Report Date : |
10.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
SHARDA INTERNATIONAL FZE |
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Registered Office : |
Jebel Ali Free Zone, Office No. LB 16403, A116, PO Box 72441, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
24.06.2006 |
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Legal Form : |
Free Zone Establishment - FZE |
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Line of Business : |
Import and Distribution of Chemicals, Dyes and Rubber
Belts. |
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$ 75,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : SHARDA INTERNATIONAL FZE
Country of Origin : Dubai, United Arab Emirates
Legal Form : Free Zone Establishment - FZE
Registration Date : 24th June 2006
Trade Licence Number : 4831
Chamber Membership Number : 108767
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Total Workforce : 6
Activities : Import and distribution of chemicals, dyes and rubber belts.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 75,000
COMPANY NAME
SHARDA INTERNATIONAL FZE
ADDRESS
Registered & Physical Address
Location : Jebel Ali
Free Zone, Office No. LB 16403, A116
PO Box : 72441
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 2680502
/ 3312348
Facsimile : (971-4)
2680507 / 3327416
Email : shardain@vsnl.com
Premises
Subject operates from a small suite of offices that are rented and
located in the Jebel Ali Free Zone.
KEY PRINCIPALS
Name Nationality Position
· Ramprakash
Vilasrai Bubna Indian Managing
Director
LEGAL FORM & OWNERS
Date of
Establishment : 24th
June 2006
Legal Form : Free Zone
Establishment - FZE
Trade Licence No. : 4831 (Expires 31/05/08)
Chamber Member No. : 108767
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Name of Shareholder (s) Percentage
· Ramprakash
Vilasrai Bubna 100%
AFFILIATED COMPANIES
· Sharda
Worldwide Exports Pvt Ltd
Domnic Holm
29th
Road, Bandra (West)
Mumbai
- 400 050
India
Tel:
(91-22) 66782800
Fax:
(91-22) 66782828
OPERATIONS
Activities: Engaged in the import and distribution of chemicals, dyes and rubber
belts.
Import Countries: India and China
Subject has a workforce of 6 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
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Standard Chartered Bank
Khalid Bin Waleed
Street
PO Box : 999
Dubai
Tel : (971-4)
2520455
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Sharda International FZE is a relatively new business with operations commencing
in June 2006. It is engaged in the import and distribution of chemicals, dyes
and rubber belts.
According to local sources subject is making steady progress in the
local business market and nothing detrimental has been reported regarding the
manner in which payments are fulfilled. As such the business is considered to
be a fair trade risk.
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%)