MIRA
INFORM REPORT
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Report Date : |
11.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
SGI FOOD AND BEVERAGE LLC |
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Registered Office : |
Mohamed Khalifa Al Habtoor Warehouse, Al Qusais Street, Al Qusais
Industrial Area, PO Box 231270, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
01.10.2006 |
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Com. Reg. No.: |
999824, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Importer and Distributors of Foodstuffs and Beverages. |
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$ 75,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : SGI FOOD AND BEVERAGE LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 1st October 2006
Commercial Registration Number : 999824, Dubai
Trade Licence Number : 586266
Membership Number : 111510
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 5
Line of Business : Distributors of foodstuffs and beverages.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
SGI FOOD AND BEVERAGE LLC
ADDRESS
Registered & Physical Address
Building : Mohamed
Khalifa Al Habtoor Warehouse
Street : Al Qusais
Street
Area : Al Qusais
Industrial Area
PO Box : 231270
Town : Dubai
Country : United Arab
Emirates
Subject has yet to register any contact numbers.
Premises
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Industrial Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
·
Sultan Qassim Sultan
Abdul Rahman Al Banna Emirati Managing Director
LEGAL FORM & OWNERS
Date of
Establishment : 1st
October 2006
Legal Form : Sharikat Thet
Massouliya Mahdoudeh (Limited Liability Company - LLC)
Commercial Reg.
No. : 999824, Dubai
Trade Licence No. : 586266 (Expires 23rd September
2008)
Membership No. : 111510
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s)
· Sultan Qassim
Sultan Abdul Rahman Al Banna
LINE OF BUSINESS
Operations : Engaged in the import and distribution of
foodstuffs and beverages.
Import Countries : Europe and the Far East.
Subject has a workforce of 5 employees.
FINANCIAL HIGHLIGHTS
Subject is a newly formed business and as a result financial information
is not currently available.
BANKERS
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HSBC Bank Middle East
Deira Souk Branch
PO Box :
66
Dubai
Tel :
(971-4) 2535000
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 150,000:
Investigations undertaken in Dubai did not reveal any sign of payment
defaults or delays during initial trading stages, and subject is believed to
meet its payment obligations in a timely manner, nevertheless, and in view of
the company’s infancy and the lack of a more consistent payment and financial
record, a measure of caution is advisable and a close monitoring of subject’s
business development is recommended.
Maximum suggested credit figure: US$ 75,000
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%)