MIRA
INFORM REPORT
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Report Date : |
11.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
AASTRID MIDDLE
EAST FZC |
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Registered Office : |
Saif Zone,
Building YI, Office No. 52, P O Box 120072, Sharjah |
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Country : |
United Arab
Emirates |
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Date of Incorporation : |
20th October 2007 |
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Legal Form : |
Free Zone Company – FZC |
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Line of Business : |
Engaged in the
import and distribution of pharmaceuticals, food ingredients 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$ 30,000 |
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Status : |
New and Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : AASTRID MIDDLE EAST FZC
Country of Origin : Sharjah, United Arab Emirates
Legal Form : Free Zone Company - FZC
Registration Date : 20th October 2007
Trade Licence Number : 01-04-5401
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Total Workforce : 3
Line of Business : Distributors of pharmaceuticals, food ingredients and supplements.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
AASTRID MIDDLE EAST
FZC
ADDRESS
Registered & Physical Address
Location : Saif Zone, Building YI, Office No.
52
PO Box : 120072
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 5574513
Facsimile : (971-6) 5574514
Email : info@aastrid.ae
Premises
Subject operates from
a small suite of offices and a warehouse that are rented and located in the
Saif Zone Area of Sharjah.
KEY PRINCIPALS
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Rajenfara
Pandurang Managing
Director
LEGAL FORM & OWNERS
Date of Establishment : 20th
October 2007
Legal Form :
Free Zone Company - FZC
Trade Licence No. :
01-04-5401
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Name of Shareholder (s)
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Rajenfara
Pandurang
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Aastrid
International Pvt Ltd
247-248 Udyog Bhavan
Sonawala Lane
Goregaon East
Mumbai 400 063
India
Tel : (91-22) 26858570
Fax : (91-22) 26859570
Email : aastrid@vsnl.com
Note to the Legal Form
A Free Zone Company (FZC) is a Private Limited Liability Company, with its liability determined by the amount of paid-up capital. The minimum share capital currently stands at UAE Dh 1,000,000.
This legal form allows for 100 percent foreign ownership within the United Arab Emirates and allows foreign companies to maintain a presence in the UAE (within the free zone), without the usual requirement of a local sponsor that would hold majority ownership, ie minimum of 51 % equity in the capital.
LINE OF BUSINESS
Operations : Engaged in the import and distribution of
pharmaceuticals, food ingredients and supplements.
Import Countries
: Europe and the Far East.
Subject has a
workforce of 3 employees.
FINANCIAL HIGHLIGHTS
Subject is a newly
formed business and as a result financial information is not currently
available.
BANKERS
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Emirates Bank International
Ltd
Immigration Road
PO Box : 25090
Sharjah
Tel : (971-6) 5733300
Fax : (971-6) 5730077
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Investigations
undertaken in Sharjah 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$ 30,000
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%)