MIRA
INFORM REPORT
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Report Date : |
08.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
RADIANT RESOURCES FZCO |
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Registered Office : |
Office Number 24, LOB 4, Jebel Ali Free Zone, PO Box 261301, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
2005 |
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Legal Form : |
Free Zone Company - FZCO |
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Line of Business : |
Distributors of industrial chemicals, lubricants and building materials. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
US$ 100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : RADIANT RESOURCES FZCO
Country of Origin : Dubai, United Arab Emirates
Legal Form : Free Zone Company - FZCO
Registration Date : 2005
Trade Licence Number : 5346
Membership Number : 127772
Issued Capital : UAE Dh 600,000
Paid up Capital : UAE Dh 600,000
Total Workforce : 10
Line of Business : Distributors of industrial chemicals, lubricants and building
materials.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
RADIANT RESOURCES FZCO
ADDRESS
Registered & Physical Address
Building : Office
Number 24, LOB 4
Area : Jebel Ali
Free Zone
PO Box : 261301
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 8872542
/ 8872562
Facsimile : (971-4)
8815523
Mobile : (971-50)
6527257
Email : rrfzco@eim.ae
Premises
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Jebel Ali Free Zone Area of Dubai.
KEY PRINCIPALS
· Rajul Kaushik Managing
Director
· Easwar Venugopal Director
LEGAL FORM & OWNERS
Date of Establishment : 2005
Legal Form : Free Zone Company
- FZCO
Trade Licence No. : 5346 (Expires 29th April 2008)
Membership No. : 127772
Issued Capital : UAE Dh 600,000
Paid up Capital : UAE Dh 600,000
Name of Shareholder (s)
· Rajul Kaushik
· Easwar Venugopal
LINE OF BUSINESS
Operations: Engaged in import and distribution of industrial chemicals, lubricants
and building materials.
Import Countries : Europe and the Far East.
Subject has a workforce of 10 employees.
FINANCIAL HIGHLIGHTS
Companies registered in Dubai, United Arab Emirates are not legally
required to make their accounts public and no financial information was
released by the company or submitted by outside sources.
BANKERS
·
Emirates Bank International Ltd
Baniyas Road
PO Box : 2923
Deira
Dubai
Tel : (971-4)
3160316
Fax : (971-4)
2264302
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 150,000:
Established in 2005, subject is involved in the import and distribution
of industrial chemicals, lubricants and building materials.
Local sources report that payment obligations are met in a generally
timely manner and the operating history is clear. As such the company is deemed
a fair trade risk.
Maximum suggested credit figure: US$ 100,000
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%)