MIRA
INFORM REPORT
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Report Date : |
02.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
AL MUFIED JEWELLERY FZE |
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Registered Office : |
Saif Zone, PO Box
121765, Sharjah |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
18.03. 2008 |
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Legal Form : |
Free Zone Establishment - FZE |
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Line of Business : |
Traders of Jewellery |
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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Status : |
New Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : AL MUFIED JEWELLERY FZE
Country of Origin : Sharjah, United Arab Emirates
Legal Form : Free Zone Establishment - FZE
Registration Date : 18th March 2008
Trade Licence Number : 05924, Saif Zone
Issued Capital : UAE Dh 100,000
Paid up Capital : UAE Dh 100,000
Total Workforce : 1
Activities : Traders of jewellery
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : Rahul Ramesh Chewan, Managing Director
COMPANY NAME
AL MUFIED JEWELLERY
FZE
ADDRESS
Registered & Physical Address
Location : Saif Zone
PO Box : 121765
Town : Sharjah
Country : United Arab Emirates
Mobile : (971-50) 2551923
Email : rahul_c777@rediffmail.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Saif Zone,
Sharjah.
KEY PRINCIPALS
Name Position
·
Rahul
Ramesh Chewan Managing
Director
LEGAL FORM & OWNERS
Date of Establishment : 18th
March 2008
Legal Form :
Free Zone Establishment -
FZE
Trade Licence No. : 05924, Saif Zone
Issued Capital : UAE Dh 100,000
Paid up Capital : UAE Dh 100,000
Name of Shareholder (s) Percentage
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Rahul
Ramesh Chewan 100%
OPERATIONS
Activities: Engaged as traders of jewellery.
Import
Countries: India
Subject has a
workforce of 1 employee.
FINANCIAL DATA
Subject is a newly
formed business and as a result financial information is not currently
available.
BANKERS
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Habib Bank Ltd
PO Box 300
Sharjah
Tel: (971-6) 5356116
Fax: (971-6) 5526473
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.50.52 |
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UK Pound |
1 |
Rs.75.08 |
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Euro |
1 |
Rs.63.72 |
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%)