MIRA
INFORM REPORT
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Report Date : |
16.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
TRADECORP |
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Registered Office : |
Dubai Airport
Free Zone, Building 6WA, Office 601, PO Box 54937, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
21.09.2008 |
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Com. Reg. No.: |
1666, DAFZA |
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Legal Form : |
Free Zone Company - FZCO |
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Line of Business : |
Commercial Brokers Dealing in the Import and Export of General Merchandise |
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 : TRADECORP
Country of Origin : Dubai, United Arab Emirates
Legal Form : Free Zone Company - FZCO
Registration Date : 21st September 2008
Trade Licence Number : 1666, DAFZA
Issued Capital : UAE Dh 100,000
Paid up Capital : UAE Dh 100,000
Total Workforce : 2
Activities : Commercial brokers dealing in the import & export of general merchandise
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 25,000
COMPANY NAME
TRADECORP
ADDRESS
Registered & Physical Address
Location : Dubai Airport Free Zone, Building
6WA, Office 601
PO Box : 54937
Town : Dubai
Country : United Arab Emirates
Premises
Subject operates
from a small suite of offices that are rented and located in the Dubai Airport
Free Zone.
KEY PRINCIPALS
Name Nationality Position
·
Stephan
Ureesh Macwide South African Managing Director
·
Peter
Adrianous South
African Director
LEGAL FORM & OWNERS
Date of Establishment : 21st
September 2008
Legal Form :
Free Zone Company - FZCO
Trade Licence No. : 1666, DAFZA
Issued Capital : UAE Dh 100,000
Paid up Capital : UAE Dh 100,000
Name of Shareholder (s)
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Stephan
Ureesh Macwide
·
Peter
Adrianous
OPERATIONS
Activities: Engaged as commercial brokers dealing in
the import and export of general merchandise,
including
cladding and
installation products as well as raw materials.
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
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National Bank
of Dubai (NBD)
Baniyas Street
PO Box 777
Dubai
Tel: (971-4) 2222241
Acc No. 0148357013
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.
Please note that
the contact number 971-4 4246622 you provided actually belongs to Mashreq Bank. Subject has not registered any contact
numbers with the local authorities and as such we were unable to contact the
subject directly.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.47.82 |
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UK Pound |
1 |
Rs.73.08 |
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Euro |
1 |
Rs.65.56 |
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%)