MIRA
INFORM REPORT
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Report Date : |
18.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
MATZ INTERNATIONAL FZE |
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Registered Office : |
EOC, Building No. 198, Ajman Free Zone PO Box 213187, Ajman |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
03.02.2005 |
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Legal Form : |
Free Zone Establishment - FZE |
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Line of Business : |
Distributors of Instrument Enclosures, Bio-Technology Products,
Lubricants, Generators and Electronics |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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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 :
MATZ INTERNATIONAL FZE
Country of Origin :
Ajman, United Arab Emirates
Legal Form :
Free Zone Establishment - FZE
Registration Date :
3rd February 2005
Trade Licence Number :
50
Issued Capital :
UAE Dh 1,000,000
Paid up Capital :
UAE Dh 1,000,000
Total Workforce :
4
Line of Business :
Distributors of instrument enclosures, bio-technology products,
lubricants, generators and electronics.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
COMPANY NAME
MATZ INTERNATIONAL FZE
ADDRESS
Registered Address
Location : EOC, Building
No. 198, Ajman Free Zone
PO Box : 213187
Town : Ajman
Country : United Arab Emirates
Premises
Subject operates from a small suite of offices that are rented and
located in the Ajman Free Zone.
Branch Office (s)
Location Description
· Dubai Office
premises
Tel : (971-4)
2800573
Fax : (971-4)
2800574
KEY PRINCIPALS
· Zaya Mahmoud Managing
Director
LEGAL FORM & OWNERS
Date of
Establishment : 3rd
February 2005
Legal Form : Mouassasat Al
Mintaka Al Horra (Free Zone Establishment - FZE)
Trade Licence No. : 50
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Name of Shareholder (s)
Percentage
· Zaya Mahmoud 100%
Note to the Legal
Form
A Free Zone Establishment - or FZE - is an establishment formed and registered within the Free Zones and regulated solely by the Free Zone authorities.
Such establishments must have a capital of at least UAE Dh 1 million and
liability will be limited to the amount of paid-up capital. A FZE need only
have a single shareholder and is an independent legal entity.
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, i.e. minimum of 51 % equity in the capital.
LINE OF BUSINESS
Operations: Engaged in the import and distribution of instrument enclosures,
bio-technology products,
lubricants, generators and electronics.
Import Countries: Europe and the Far East.
Subject has a workforce of 4 employees.
FINANCIAL HIGHLIGHTS
Financial highlights provided by outside sources are given below :
Currency : United Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/06:
Total Revenue UAE
Dh 4,100,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
·
National Bank of Umm al Quwain
PO Box : 4133
Ajman
Tel : (971-6) 7457500
Fax : (971-6)
7457600
Acc No. 043148809
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 instrument enclosures, bio-technology products, lubricants, generators and
electronics.
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%)