MIRA
INFORM REPORT
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Report Date : |
01.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
SHAFAQ INTERNATIONAL FZE |
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Registered Office : |
Al Jazir Building, Office No. 7,
Al Nakhil Road, Deira, PO Box 49305, Dubai |
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Country : |
United Arab
Emirates |
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Date of Incorporation : |
12.02.2008 |
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Legal Form : |
Free Zone
Establishment - FZE |
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Line of Business : |
Import and Distribution of Ventilators and Fans, Air Conditioning Units and Refrigeration Equipment, as well as Medical and Surgical Apparatus, Laboratory Supplies and Health Food. |
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$ 15,000 |
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Status : |
New Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : SHAFAQ INTERNATIONAL
FZE
Country of Origin : Dubai,
United Arab Emirates
Legal Form :
Free Zone Establishment - FZE
Registration Date : 12th
February 2008
Trade Licence Number : 7498
Chamber Membership
Number : 129202
Issued Capital : UAE Dh
100,000
Paid up Capital : UAE Dh
100,000
Total Workforce :
2
Activities :
Import and distribution of ventilators and fans, air conditioning units and
refrigeration equipment, as well as medical
and surgical apparatus,
laboratory supplies and health food
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
Recommended Credit
Limit : US$ 15,000
COMPANY NAME
SHAFAQ INTERNATIONAL FZE
ADDRESS
Registered &
Physical Address
Building : Al Jazir Building,
Office No. 7
Street : Al Nakhil Road
Area : Deira
PO Box : 49305
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2284999
Facsimile : (971-4)
2284449
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
· Hassan
Qassim Azerbaijani Managing
Director
· Kirat Jyussembayev - Business
Development Manager
LEGAL FORM & OWNERS
Date of
Establishment : 12th
February 2008
Legal Form : Free Zone
Establishment - FZE
Trade Licence No. : 7498 (Expires 10/01/2009)
Chamber Member No. : 129202
Issued Capital : UAE Dh 100,000
Paid up Capita l : UAE Dh 100,000
Name of Shareholder (s) Percentage
· Hassan
Qassim 100%
OPERATIONS
Activities: Engaged in the import and distribution of ventilators and fans, air
conditioning units and refrigeration
equipment, as well as medical and surgical
apparatus, laboratory supplies and health food.
Import Countries: India and China
Export Countries: Azerbaijan and Kazakhstan
Subject has a workforce of 2 employees.
FINANCIAL DATA
Subject is a newly formed business and as a result financial information
is not currently available.
BANKERS
·
Mashreq Bank Plc
Deira Branch
PO Box 1250
Dubai
Tel: (971-4)
2229131 / 2221134
Fax: (971-4)
2233784
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.
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%)