MIRA
INFORM REPORT
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Report Date : |
01.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
BRAVO MIDDLE EAST FZC |
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Registered Office : |
Hamriyah
Free Zone, PO Box 42674, Sharjah |
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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 : |
01.11.2005 |
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Legal Form : |
Free Zone Company - FZCO |
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Line of Business : |
Import and distribution of building materials and electro-mechanical accessories |
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$ 200,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : BRAVO MIDDLE EAST FZC
Country of Origin : Sharjah, United Arab Emirates
Legal Form : Free Zone Company - FZCO
Registration Date : 1st November 2005
Trade Licence Number : 1415
Chamber Membership Number : 800472
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Total Workforce : 5
Activities :
Import and distribution of building materials and
electro-mechanical
accessories
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
COMPANY NAME
BRAVO MIDDLE EAST
FZC
ADDRESS
Registered &
Physical Address
Location : Hamriyah
Free Zone
PO Box : 42674
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 5261366
Facsimile : (971-6) 5261355
Email : bravome@emirates.net.ae
Premises
Subject operates
from a small suite of offices that are rented and located in the Hamriyah Free Zone.
KEY PRINCIPALS
Name Position
·
Martha
Denis Santh Maya Managing
Director
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Krishna
Murti Kumar Director
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M.
Swami Nathan Director
LEGAL FORM & OWNERS
Date of Establishment : 1st
November 2005
Legal Form :
Free Zone Company - FZCO
Trade Licence No. : 1415
Chamber Member No. : 800472
Issued Capital : UAE Dh 150,000
Paid up Capita l : UAE Dh 150,000
Name of Shareholder (s)
·
Martha
Denis Santh Maya
·
Krishna
Murti Kumar
·
M.
Swami Nathan
AFFILIATED COMPANIES
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Bravo
Manufacturing Co Ltd
Chennai
India
OPERATIONS
Activities: Engaged in the import and distribution of
building materials and electro-mechanical
accessories.
Import
Countries: India
Operating Trend: Steady
Subject has a
workforce of 5 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 6,000,000 UAE Dh 8,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures were confirmed by Martha Denis Santh Maya,
Managing Director.
BANKERS
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Mashreq Bank
Plc
Foreign Trade Centre
Al Boorj Avenue
PO Box : 9271
Sharjah
Tel : (971-6) 5351366 / 5354873
Fax : (971-6) 5372903
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 and the above credit figure is
within subject’s financial means.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 42.37 |
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UK Pound |
1 |
Rs. 84.01 |
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Euro |
1 |
Rs. 65.96 |
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%)