MIRA
INFORM REPORT
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Report Date : |
15.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
BENSHAW UAE FZE |
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Registered Office : |
Al Quasis Industrial Area, PO Box 85271,
Dubai |
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Country : |
United Arab Emirates |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
13.11.2005 |
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Legal Form : |
Free Zone Establishment - FZE |
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Line of Business : |
Import and Distribution of Electrical
Wire, Switches, Cable and Transformers. |
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$ 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : BENSHAW UAE FZE
Country of Origin : Dubai, United Arab Emirates
Legal Form : Free Zone Establishment - FZE
Registration Date : 13th November 2005
Trade Licence Number : 1352, Ras Al Khaimah
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Total Workforce : 5
Line of Business :
Import and distribution of electrical wire, switches,
cable and
transformers.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
BENSHAW UAE FZE
ADDRESS
Registered & Physical Address
Location : Al Quasis Industrial Area
PO Box : 85271
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 2617844 / 2617840
Facsimile : (971-4) 2617844
Mobile :
(971-50) 5535875
Email : bhaskarmest@gmail.com
Premises
Subject operates from a small suite of offices, a warehouse and a
showroom that are rented and located in the Industrial Area of Dubai.
KEY PRINCIPALS
· Shree
Ram Raja Basharan Managing
Director
LEGAL FORM & OWNERS
Date of Establishment : 13th November 2005
Legal Form : Mouassasat Al
Mintaka Al Horra (Free Zone Establishment - FZE)
Trade Licence No. : 1352, Ras Al Khaimah
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Name of Shareholder (s)
· Shree
Ram Raja Basharan
AFFILIATED COMPANIES
· Al
Mozannab Electrical Co
PO Box 85271
Dubai
Tel: (971-4) 3389159
Fax:
(971-4) 3389149
LINE OF BUSINESS
Operations: Engaged in the import and distribution of electrical
wire, switches, cable and transformers.
Import Countries: United Kingdom, Germany and the United States of
America.
Operating Trend: Steady
Subject has a workforce of 5 employees.
FINANCIAL HIGHLIGHTS
Financial highlights provided by outside sources are given below :
Currency : United Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/06: Year
Ending 31/12/07:
Total Revenue UAE
Dh 4,100,000 UAE Dh
4,650,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
·
Habib Bank Ltd
Trade Service Centre
Murshid Bazaar
PO Box : 888
Dubai
Tel : (971-4)
2221281
Fax : (971-4)
2284631
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 150,000:
During the course of this investigation nothing detrimental was
uncovered regarding subject’s operating history or the manner in which payments
are fulfilled. As such the company is considered to be a fair trade risk and
the above credit figure is within subject’s financial means.
Maximum suggested credit figure: US$ 150,000
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%)