MIRA
INFORM REPORT
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Report Date : |
30.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
GARDENIA TRADING FZC |
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Registered Office : |
Hamriyah
Free Zone, PO Box 42384, Sharjah |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
03.01.2005 |
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Legal Form : |
Free Zone Company - FZCO |
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Line of Business : |
Import and Export 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$ 50,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : GARDENIA TRADING FZC
Country of Origin : Sharjah, United Arab Emirates
Legal Form : Free Zone Company - FZCO
Registration Date : 3rd January 2005
Trade Licence Number : 1002, Hamriyah Free Zone
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Total Workforce : 2
Activities : Import and export of general merchandise
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 50,000
COMPANY NAME
GARDENIA TRADING
FZC
ADDRESS
Registered & Physical Address
Location : Hamriyah
Free Zone
PO Box : 42384
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 5260701
Facsimile : (971-6) 5260701
/ 5280702
Mobile : (971-50) 8865731
Email : gardeniatrading@emirates.net.ae
Premises
Subject operates
from a small suite of offices that are rented and located in the Hamriyah Free Zone.
KEY PRINCIPALS
Name Position
·
Divakar
Krishna Shetty Managing
Director
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Manoj
Thangavelu Director
LEGAL FORM & OWNERS
Date of Establishment : 3rd
January 2005
Legal Form :
Free Zone Company - FZCO
Trade Licence No. : 1002, Hamriyah Free Zone
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Name of Shareholder (s)
·
Divakar
Krishna Shetty
·
Manoj
Thangavelu
OPERATIONS
Activities: Engaged in the import
and export of general merchandise.
Subject has a
workforce of 2 employees.
FINANCIAL DATA
Companies registered
in Sharjah, 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
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Habib Bank Ltd
PO Box : 300
Sharjah
Tel : (971-6) 5356116
Fax : (971-6) 5526473
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.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.54 |
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UK Pound |
1 |
Rs.84.86 |
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Euro |
1 |
Rs.66.95 |
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%)