MIRA
INFORM REPORT
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Report Date : |
15.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
SURYADEEP INTERNATIONAL FZC |
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Registered Office : |
Saif Zone, Suite 72C, PO Box 9441 & 120424 Sharjah |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
2006 |
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Legal Form : |
Free Zone Company |
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Line of Business : |
Distributors of general merchandise. |
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 :
SURYADEEP INTERNATIONAL FZC
Country of Origin :
Sharjah, United Arab Emirates
Legal Form :
Free Zone Company - FZC
Registration Date :
2006
Issued Capital :
UAE Dh 1,000,000
Paid up Capital :
UAE Dh 1,000,000
Total Workforce :
2
Line of Business :
Distributors of general merchandise.
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
COMPANY NAME
SURYADEEP INTERNATIONAL FZC
ADDRESS
Registered & Physical Address
Location : Saif Zone,
Suite 72C
PO Box : 9441 &
120424
Town : Sharjah
Country : United Arab
Emirates
Telephone : (971-50)
6794986
Facsimile : (971-50)
6794986
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
· Deepak Sehgal Managing
Director
· Anil Kejriwal General
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 2006
Legal Form : Free Zone Company
- FZC
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Name of Shareholder (s) Percentage
· Deepak Sehgal 100%
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 general merchandise, including
building materials, foodstuffs and ready made garments.
Import Countries :
Europe and the Far East.
Subject has a workforce of 2 employees.
FINANCIAL HIGHLIGHTS
Subject is a newly formed business and as a result financial information
is not currently available.
BANKERS
·
National Bank of Sharjah
Al Boorj Avenue
PO Box :
4
Sharjah
Tel :
(971-6) 5547747
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$ 75,000
NOTE
Please note that the correct name of the subject is “Suryadeep
International FZC”. There is no listing under the name of your enquiry – “Surya
Dees International”.
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%)