MIRA
INFORM REPORT
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Report Date : |
10.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
AL AZRA FZE GENERAL TRADING |
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Registered Office : |
Ajman Free Zone,
Ajman |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
22.05. 2007 |
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Com. Reg. No.: |
3554, Ajman |
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Legal Form : |
Free Zone Establishment - FZE |
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Line of Business : |
Import and Distribution of General Merchandise Specialising in Foodstuff and Textiles |
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 Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : AL AZRA FZE GENERAL TRADING
Country of Origin : Ajman, United Arab Emirates
Legal Form : Free Zone Establishment - FZE
Registration Date : 22nd May 2007
Trade Licence Number : 3554, Ajman
Issued Capital : UAE Dh 100,000
Paid up Capital : UAE Dh 100,000
Total Workforce : 3
Activities : Import and distribution of general merchandise specialising in foodstuff and textiles
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 30,000
COMPANY NAME
AL AZRA FZE GENERAL
TRADING
ADDRESS
Registered Address
Location : Ajman Free Zone
Town : Ajman
Country : United Arab Emirates
Physical Address
Building : Ahmed Ramdan Juma Building, 3rd
Floor, Flat No. 310
Street : Naif Road
Area : Deira
PO Box : 44303
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2723236
Facsimile : (971-4) 2723528
Mobile : (971-50) 14747720
Email : hfort2002@yahoo.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Dubai.
KEY PRINCIPALS
Name Position
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Imtiaz
Iqbal Pothywala Managing
Director
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Mohamed
Yahya Zakaria General
Manager
LEGAL FORM & OWNERS
Date of Establishment : 22nd
May 2007
Legal Form :
Free Zone Establishment -
FZE
Trade Licence No. : 3554, Ajman
Issued Capital : UAE Dh 100,000
Paid up Capital : UAE Dh 100,000
Name of Shareholder (s) Percentage
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Imtiaz
Iqbal Pothywala 100%
OPERATIONS
Activities: Engaged in the import and distribution of
general merchandise specialising in foodstuff and textiles.
Import
Countries: India
Subject has a
workforce of 3 employees.
FINANCIAL DATA
Subject is a newly formed
business and as a result financial information is not currently available.
BANKERS
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The Standard
Chartered Bank
Khalid Bin Waleed Street
PO Box : 999
Dubai
Tel : (971-4) 2520455
Acc No. 01692063201
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
In view of
subject’s infancy, extensive payment and financial records are not available,
therefore dealings are recommended to be on secured terms, and a close
monitoring of subject’s business development is advisable.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.13 |
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UK Pound |
1 |
Rs.85.02 |
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Euro |
1 |
Rs.67.77 |
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%)