MIRA
INFORM REPORT
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Report Date : |
23.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
FUTURE LINK COMMUNICATION LLC |
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Registered Office : |
Mustafa Abdur
Rahim Mustafawi Building, Zazbeel Street, Umm Hurer, PO Box 28857, Dubai |
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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 : |
24.08. 2003 |
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Com. Reg. No.: |
63844, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Importer and Distributor of Computer Software and Data
Processing Requisites |
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$ 300,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : FUTURE LINK COMMUNICATION LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 24th August 2003
Commercial Registration Number : 63844, Dubai
Trade Licence Number : 548207
Chamber Membership Number : 80256
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 13
Activities : Import and distribution of computer software and data processing requisites
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 300,000
COMPANY NAME
FUTURE LINK
COMMUNICATION LLC
ADDRESS
Registered & Physical Address
Building : Mustafa Abdur Rahim Mustafawi
Building
Street : Zazbeel Street
Area : Umm Hurer
PO Box : 28857
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3978660
Facsimile : (971-4) 3978661
Email : fulincom@emirates.net.ae
Premises
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Central Business Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
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Wilson Manoher
Suhail Simon Indian Managing
Director
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Camil Rego
Jhon Rego Indian Director
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Jalal Mohamed
Saif Humaid Al Khaled Emirati Director
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Mohamed
Mehta - Commercial
Manager
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Gladstone
Amman - Finance
Manager
LEGAL FORM & OWNERS
Date of Establishment : 24th
August 2003
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 63844, Dubai
Trade Licence No. : 548207
(Expires 19/08/2008)
Chamber Member No. : 80256
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
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Jalal Mohamed
Saif Humaid Al Khaled 51%
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Wilson Manoher
Suhail Simon 25%
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Camil Rego
Jhon Rego 24%
OPERATIONS
Activities: Engaged in the import and distribution of
computer software and data processing requisites, audio-visual and recording
equipment, antennas, satellite receiving equipment, telephone and
telecommunications equipment, and mobile phones.
Import
Countries: United States of America and the United Kingdom
International
Suppliers:
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Hubbell
Inc United States of America
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Austin
Tailor United Kingdom
Operating Trend: Steady
Subject has a
workforce of 13 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:
Total Sales UAE Dh
25,400,000 UAE Dh
29,100,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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Abu
Dhabi Commercial Bank
Al Fahidi
PO Box: 12808
Dubai
Tel:
(971-4) 3525561
Fax:
(971-4) 3511070
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
During the course
of this investigation nothing detrimental was uncovered regarding the manner in
which payment obligations are fulfilled. The operating history is clear and the
financial situation is satisfactory. As such we are of the opinion that the
subject is a fair trade risk and the above credit figure is within subject’s
financial means.
The financial
information contained within this report has been verified by Wilson Manoher
Suhail Simon – Managing Director.
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%)