MIRA
INFORM REPORT
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Report Date : |
11.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
CHINTAMANI DMCC |
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Registered Office : |
Plot No. 550-554,
Building No. 1, Office No. 1003, Dubai Multi Commodities Centre (DMCC), PO
Box 71241 & 21198, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
06.02.2005 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Import and Distribution of Metals, including Steel, Iron and Copper |
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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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : CHINTAMANI DMCC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company
Registration Date : 6th February 2005
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Total Workforce : 4
Activities : Import and distribution of metals, including steel, iron and copper
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
CHINTAMANI DMCC
ADDRESS
Registered & Physical
Address
Location : Plot No. 550-554, Building No. 1,
Office No. 1003
Area : Dubai Multi Commodities
Centre (DMCC)
PO Box : 71241 & 21198
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3325657 / 3312348
Facsimile : (971-4) 3325667
Email : sna@sna-me.com
Premises
Subject operates from
a small suite of offices that are rented and located in the Dubai Multi
Commodities Centre.
KEY PRINCIPALS
Name Position
·
Safari Zaceri Managing
Director
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Gaurang Shah General
Manager
LEGAL FORM & OWNERS
Date of Establishment : 6th
February 2005
Legal Form :
Limited Liability Company
Issued Capital : UAE Dh 1,000,000
Paid up Capita l : UAE Dh 1,000,000
Name of Shareholder (s) Percentage
·
Safari Zaceri 100%
OPERATIONS
Activities: Engaged in the import and distribution of
metals, including steel, iron and copper.
Import
Countries: Europe and the
Far East
Subject has a
workforce of 4 employees.
FINANCIAL DATA
Companies
registered in Dubai, United Arab Emirates are not legally required to make
their accounts public and no financial information was released by the company
or submitted by outside sources.
BANKERS
·
HSBC Bank
Middle East
Deira Souk Branch
PO Box : 66
Dubai
Tel : (971-4) 2535000
PAYMENT HISTORY
No complaints regarding
subject’s payments have been reported.
GENERAL COMMENTS
Chintamani DMCC is
a relatively new business with operations commencing in February 2005. It is
engaged in the import and distribution of metals, including steel, iron and
copper.
According to local
sources subject is making steady progress in the local business market and
nothing detrimental has been reported regarding the manner in which payments
are fulfilled. As such the business is considered to be a fair trade risk.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.72 |
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UK Pound |
1 |
Rs.84.42 |
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Euro |
1 |
Rs.67.38 |
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%)