MIRA
INFORM REPORT
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Report Date : |
18.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
QUEST VITAMINS MIDDLE EAST |
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Registered Office : |
LOB 13, Sheikh
Zayed Road, Jebel Ali Free Zone – South, PO Box 17836, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
08.05.2008 |
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Legal Form : |
Branch of a Foreign Registered Corporation |
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Line of Business : |
Manufacture of Medicines, Pharmaceuticals, Vitamins and
Supplements |
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 : QUEST VITAMINS MIDDLE EAST
Country of Origin : United Kingdom
Legal Form : Branch of a Foreign Registered Corporation
Registration Date : 8th May 2008
Trade Licence Number : 6613
Chamber Membership Number : 136785
Total Workforce : 34
Activities : Manufacture of medicines, pharmaceuticals, vitamins and supplements
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 25,000
COMPANY NAME
QUEST VITAMINS
MIDDLE EAST
ADDRESS
Registered & Physical Address
Building : LOB 13
Street : Sheikh Zayed Road
Area : Jebel Ali Free Zone - South
PO Box : 17836
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 8862850 / 3411787
Facsimile : (971-4) 8862851 / 3411788
Email : mhassam@questvitamins.co.uk
Premises
Subject operates
from a medium sized suite of offices and a factory that are rented and located
in the Jebel Ali Free Zone, Dubai.
KEY PRINCIPALS
Name Position
·
Dr Ahmed Hussam Managing
Director
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Mohamed
Ahmed Hussam General
Manager
LEGAL FORM & OWNERS
Date of Establishment : 8th
May 2008
Legal Form :
Subject is the United Arab
Emirates registered branch of Quest Vitamins Middle East, a
Limited Liability Company incorporated in the
United Kingdom
Quest Vitamins Middle East in
the United Arab Emirates, operates as a Branch of a Foreign
Registered Corporation.
A Branch of a Foreign
Registered Corporation is not a legal entity in its own
right. Responsibility for
payments lays in the hands of the company where it is
originally registered.
Trade Licence No. : 6613
Chamber Member No. : 136785
OPERATIONS
Activities: Engaged in the manufacture of medicines,
pharmaceuticals, vitamins and supplements.
Import Countries: Europe and India
Subject has a
workforce of 34 employees.
FINANCIAL DATA
Subject is a newly
formed business and as a result financial information is not currently
available.
BANKERS
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The Standard
Chartered Bank
Jebel Ali Free Zone
PO Box : 999
Dubai
Tel : (971-4) 8856600
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.47.28 |
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UK Pound |
1 |
Rs.73.43 |
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Euro |
1 |
Rs.68.22 |
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%)