MIRA
INFORM REPORT
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Report Date : |
25.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
S & S STAINLESS STEEL FZCO |
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Registered Office : |
Office No. LB
16405A 114, Sheikh Zayed Road, Jebel Ali Free Zone, PO Box 261765, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
31.03. 2005 |
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Legal Form : |
Free Zone Company - FZCO |
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Line of Business : |
Import and Distribution of Ferrous and Non Ferrous Metals. |
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$ 100,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : S & S STAINLESS STEEL FZCO
Country of Origin : Dubai, United Arab Emirates
Legal Form : Free Zone Company - FZCO
Registration Date : 31st March 2005
Trade Licence Number : 5770
Chamber Membership Number : 95974
Issued Capital : UAE Dh 600,000
Paid up Capital : UAE Dh 600,000
Total Workforce : 4
Activities : Import and distribution of ferrous and non ferrous metals.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 100,000
COMPANY NAME
S & S STAINLESS
STEEL FZCO
ADDRESS
Registered & Physical Address
Building : Office No. LB 16405A 114
Street : Sheikh Zayed Road
Area : Jebel Ali Free Zone
PO Box : 261765
Town : Dubai
Country : United Arab Emirates
Telephone : (39-2) 36521239
Facsimile : (39-2) 99980816
Email : stefano.dipaolo@fastwebnet.it
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
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Stefano Sergio
Di Paolo Italian Managing
Director
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Stefano Villa Italian Director
LEGAL FORM & OWNERS
Date of Establishment : 31st
March 2005
Legal Form :
Free Zone Company - FZCO
Trade Licence No. : 5770
Chamber Member No. : 95974
Issued Capital : UAE Dh 600,000
Paid up Capital : UAE Dh 600,000
Name of Shareholder (s) Percentage
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Stefano Sergio
Di Paolo 50%
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Stefano Villa 50%
OPERATIONS
Activities: Engaged in the import and distribution of
ferrous and non ferrous metals.
Import
Countries: Italy and Asia
Subject has a
workforce of 4 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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The Standard
Chartered Bank
Jebel Ali Free Zone
PO Box : 999
Dubai
Tel : (971-4) 8856600
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%)