MIRA
INFORM REPORT
|
Report Date : |
24.07.2008 |
IDENTIFICATION
DETAILS
|
Name : |
MICON GENERAL TRADING FZE |
|
|
|
|
Registered Office : |
Hamriyah
Free Zone, PO Box 49087,
Sharjah |
|
|
|
|
Country : |
United Arab Emirates |
|
|
|
|
Date of Incorporation : |
13.02. 2007 |
|
|
|
|
Com. Reg. No.: |
2320, Hamriyah Free Zone |
|
|
|
|
Legal Form : |
Free Zone Establishment - FZE |
|
|
|
|
Line of Business : |
Import and Export of General Merchandise |
RATING &
COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
Status : |
Small Company |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name : MICON GENERAL TRADING FZE
Country of Origin : Sharjah, United Arab Emirates
Legal Form : Free Zone Establishment - FZE
Registration Date : 13th February 2007
Trade Licence Number : 2320, Hamriyah Free Zone
Issued Capital : UAE Dh 100,000
Paid up Capital : UAE Dh 100,000
Total Workforce : 1
Activities : Import and export of general merchandise
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
MICON GENERAL
TRADING FZE
ADDRESS
Registered & Physical Address
Location : Hamriyah
Free Zone
PO Box : 49087
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 535227
Facsimile : (971-6) 5352006
Premises
Subject operates
from a small suite of offices that are rented and located in the Hamriyah Free Zone.
KEY PRINCIPALS
Name Position
·
Sajish
Kumar Bhaputmal Managing
Director
LEGAL FORM & OWNERS
Date of Establishment : 13th
February 2007
Legal Form :
Free Zone Establishment -
FZE
Trade Licence No. : 2320, Hamriyah Free Zone
Issued Capital : UAE Dh 100,000
Paid up Capital : UAE Dh 100,000
Name of Shareholder (s) Percentage
·
Sajish
Kumar Bhaputmal 100%
OPERATIONS
Activities: Engaged in the import and export of general
merchandise.
Subject has a
workforce of 1 employees.
FINANCIAL DATA
Subject is a newly formed
business and as a result financial information is not currently available.
BANKERS
·
Mashreq Bank
Plc
Foreign Trade Centre
Al Boorj Avenue
PO Box : 9271
Sharjah
Tel : (971-6) 5351366 / 5354873
Fax : (971-6) 5372903
PAYMENT HISTORY
No complaints regarding
subject’s payments have been reported.
GENERAL COMMENTS
During the course
of this investigation nothing detrimental was uncovered regarding subject’s
operating history or the manner in which payments are fulfilled. As such the
company is considered to be a fair trade risk.
Local sources were
unable to contact the subject directly as the telephone number provided was
incorrect and there are no listings under the name “Micon General Trading FZE”.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.41.96 |
|
UK Pound |
1 |
Rs.83.78 |
|
Euro |
1 |
Rs.65.82 |
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)