MIRA
INFORM REPORT
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Report Date : |
23.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
TULIP GENERAL TRADING FZE |
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Registered Office : |
Hamriyah
Free Zone, PO Box 50010, Sharjah |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
26.03. 2008 |
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Legal Form : |
Free Zone
Establishment - FZE |
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Line of Business : |
Importer and Exporter of General Merchandise. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 5,000 |
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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
SUMMARY
Company Name : TULIP GENERAL TRADING FZE
Country of Origin : Sharjah, United Arab Emirates
Legal Form : Free Zone Establishment - FZE
Registration Date : 26th March 2008
Trade Licence Number : 3641
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Total Workforce : 1
Activities : Import and export of general merchandise.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 5,000
COMPANY NAME
TULIP
GENERAL TRADING FZE
ADDRESS
Registered & Physical Address
Location : Hamriyah
Free Zone
PO Box : 50010
Town : Sharjah
Country : United Arab Emirates
Mobile : (971-50) 1872826
Email : tulipfze@gmail.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Hamriyah Free Zone.
KEY PRINCIPALS
Name Position
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Paraveen
Thakhar Managing
Director
LEGAL FORM & OWNERS
Date of Establishment : 26th
March 2008
Legal Form :
Free Zone Establishment -
FZE
Trade Licence No. : 3641, Hamriyah Free Zone (Expires 21/03/2009)
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Name
of Shareholder (s) Percentage
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Paraveen
Thakhar 100%
OPERATIONS
Activities: Engaged in the import
and export of general merchandise.
Subject has a
workforce of 1 employees.
FINANCIAL DATA
Subject is a newly
formed business and as a result financial information is not currently
available.
BANKERS
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The Standard
Chartered Bank
Al Boorj Avenue
PO Box : 5
Sharjah
Tel : (971-6) 5357788
Fax : (971-6) 5335500
Acc No. 01 9089568 01
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
In view of
subject’s infancy, extensive payment and financial are not available, therefore
dealings are recommended to be on secured terms, and a close monitoring of
subject’s business development is advisable.
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%)