MIRA INFORM REPORT
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Report Date : |
06.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
CORE METALS FZE |
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Registered Office : |
Hamriyah Free Zone, PO Box 49964, Sharjah |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
06.02.2008 |
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Legal Form : |
Free Zone Establishment - FZE |
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Line of Business : |
Import and Export of Metal Products |
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$ 25,000 |
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Status : |
New Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name :
CORE METALS FZE
Country of Origin :
Sharjah, United Arab Emirates
Legal Form :
Free Zone Establishment - FZE
Registration Date :
6th February 2008
Trade Licence Number :
3410, Hamriyah Free Zone
Issued Capital :
UAE Dh 100,000
Paid up Capital :
UAE Dh 100,000
Total Workforce :
2
Activities :
Import and export of metal products
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
Recommended Credit Limit :
US$ 25,000
COMPANY NAME
CORE METALS FZE
ADDRESS
Registered &
Physical Address
Location : Hamriyah Free
Zone
PO Box : 49964
Town : Sharjah
Country : United Arab Emirates
Subject has yet to register a telephone or facsimile number.
Premises
Subject operates from a small suite of offices that are rented and
located in the Hamriyah Free Zone.
KEY PRINCIPALS
Name Position
· Adnan
Manzoor Managing Director
LEGAL FORM & OWNERS
Date of
Establishment : 6th
February 2008
Legal Form : Free Zone
Establishment - FZE
Trade Licence No. : 3410, Hamriyah
Free Zone
Issued Capital : UAE Dh 100,000
Paid up Capital : UAE Dh 100,000
Name of Shareholder (s) Percentage
· Adnan
Manzoor 100%
OPERATIONS
Activities: Engaged in the import and export of metal products.
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
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
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. 42.00 |
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UK Pound |
1 |
Rs. 82.14 |
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Euro |
1 |
Rs. 65.09 |
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%)