MIRA
INFORM REPORT
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Report Date : |
31.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
VIJOYS GULF IMPEX FZE |
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Registered Office : |
Hamriyah Free Zone, PO Box
42159, Sharjah |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
26.08.2007 |
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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$ 15,000 |
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Status : |
New Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : VIJOYS GULF IMPEX FZE
Country of Origin : Sharjah, United Arab Emirates
Legal Form : Free Zone Company - FZCO
Registration Date : 26th August 2007
Trade Licence Number : 2889, 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
Recommended Credit Limit : US$ 15,000
COMPANY NAME
VIJOYS GULF IMPEX FZE
ADDRESS
Registered & Physical Address
Location : Hamriyah Free Zone
PO Box : 42159
Town : Sharjah
Country : United Arab Emirates
Telephone: (971-6) 5748581
Facsimile: (971-6) 5748581
Premises
Subject operates from a small suite of offices that are rented and
located in the Hamriyah Free Zone.
KEY PRINCIPALS
Name Position
· Vijoys
George Managing
Director
LEGAL FORM & OWNERS
Date of
Establishment : 26th
August 2007
Legal Form : Free Zone
Establishment - FZE
Trade Licence No. : 2889, Hamriyah
Free Zone
Issued Capital : UAE Dh 100,000
Paid up Capital : UAE Dh 100,000
Name of Shareholder (s) Percentage
· Vijoys
George 100%
OPERATIONS
Activities: Engaged in the import and export of general merchandise.
Import Countries: India and China.
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
·
National Bank of Dubai (NBD)
Mohamed S. Al
Hajiri Building
Al Wahda Street
Sharjah
Tel :
(971-6) 5538811
Fax :
(971-6) 5598171
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.42.47 |
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UK Pound |
1 |
Rs.84.00 |
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Euro |
1 |
Rs.66.14 |
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%)