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MIRA
INFORM REPORT
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Report Date : |
18.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
EAST END FOODS (M.E.) FZCO |
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Registered Office : |
LOB 16, Office No. 405, Jebel Ali Free Zone, PO Box 5771, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
24.07.2005 |
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Legal Form : |
Free Zone Company
- FZCO |
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Line of Business : |
Import and
Distribution of General Foodstuff 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$ 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 : EAST END FOODS (M.E.)
FZCO
Country of Origin : Dubai,
United Arab Emirates
Legal Form :
Free Zone Company - FZCO
Registration Date : 24th
July 2005
Trade Licence Number : 6417
Issued Capital : UAE Dh
1,000,000
Paid up Capital : UAE Dh
1,000,000
Total Workforce : 7
Activities :
Import and distribution of general foodstuff products.
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
Recommended Credit
Limit : US$ 100,000
COMPANY NAME
EAST END FOODS (M.E.) FZCO
ADDRESS
Registered & Physical Address
Location : LOB 16,
Office No. 405
Area : Jebel Ali
Free Zone
PO Box : 5771
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 2236508
/ 2272093
Facsimile : (971-4)
2234524
Premises
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Jebel Ali Free Zone.
KEY PRINCIPALS
Name Position
· Kyldip Sing Woyhra Managing
Director
LEGAL FORM & OWNERS
Date of
Establishment : 24th
July 2005
Legal Form : Free Zone Company
- FZCO
Trade Licence No. : 6417 (Expires 23/06/2009)
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Name of Shareholder (s) Percentage
· Kyldip Sing Woyhra 100%
AFFILIATED COMPANIES
· East End Grocery
PO Box : 5771
Dubai
Tel : (971-4)
3330285 / 3332745
· M. H. Enterprises
Khamis Rashid Khamis Building
Al Ras Street
PO Box : 5771
Dubai
Tel : (971-4)
2262800 / 2267960
Fax : (971-4)
3470971 / 2488971
· M. H.
International
PO Box : 5771
Dubai
Tel: (971-4)
3470444
Fax: (971-4) 3470971
· Prime Trading Co
LLC
PO Box : 153, Wadi
Kabir 117
Muscat
Oman
Tel: (968) 7715274
Fax: (968) 7712033
OPERATIONS
Activities: Engaged in the import and distribution of general foodstuff products.
Import Countries: Europe and the Far East.
Subject has a workforce of 7 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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HSBC Bank Middle East
Deira Souk Branch
PO Box :
66
Dubai
Tel :
(971-4) 2535000
·
Barclays Bank Plc
PO Box 1891
Dubai
Tel: (971-4)
3626700
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.
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%)