MIRA
INFORM REPORT
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Report Date : |
28.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
AL MEHDAZ TRADE IMPEX FZC |
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Registered Office : |
RAK
Free Zone, Ras Al Khaimah |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
26.05.2008 |
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Com. Reg. No.: |
7000215, RAK Free Zone |
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Legal Form : |
Free Zone Company - FZCO |
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Line of Business : |
Import and Distribution of engineering
tools, construction equipment and galvanised plants |
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$ 10,000 |
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Status : |
New Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : AL MEHDAZ TRADE IMPEX FZC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Free Zone Company - FZCO
Registration Date : 26th May 2008
Trade Licence Number : 7000215, RAK Free Zone
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Total Workforce : 4
Activities :
Import and distribution of engineering tools,
construction equipment and
galvanised plants
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 10,000
COMPANY NAME
AL MEHDAZ TRADE
IMPEX FZC
ADDRESS
Registered Address
Location : RAK Free
Zone
Town : Ras Al Khaimah
Country : United Arab Emirates
Physical Address
Building : Twin Towers, 2nd
Floor, Suite 217
Street : Baniyas Road
PO Box : 4404
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2088674
Facsimile : (971-4) 2088699
Mobile : (971-50) 1080365
Email : almehdaz@eim.ae
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Dubai.
KEY PRINCIPALS
Name Position
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Himanshu Mehta Managing
Director
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Bhval
Lala General
Manager
LEGAL FORM & OWNERS
Date of Establishment : 26th
May 2008
Legal Form :
Free Zone Company - FZCO
Trade Licence No. : 7000215, RAK Free Zone
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Name of Shareholder (s)
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Himanshu Mehta
OPERATIONS
Activities: Engaged in the import
and distribution of engineering tools, construction equipment and galvanised
plants.
Subject has a
workforce of 4 employees.
FINANCIAL DATA
Subject is a newly
formed business and as a result financial information is not currently
available.
BANKERS
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Commercial
Bank of Dubai
Baniyas Street
Deira
PO Box : 1709
Dubai
Tel : (971-4) 2227121 / 2253222
Fax : (971-4) 2220943 / 2254565
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.43.73 |
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UK Pound |
1 |
Rs.8031 |
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Euro |
1 |
Rs.64.61 |
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%)