MIRA
INFORM REPORT
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Report Date : |
02.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
BASELL INTERNATIONAL TRADING FZE |
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Registered Office : |
Airport Road,
Dubai Airport Free Zone, PO Box
293611, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
07.04. 2007 |
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Legal Form : |
Free Zone Establishment - FZE |
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Line of Business : |
Import
and Distribution of Polyolefins |
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$ 70,000 |
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Status : |
New and Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : BASELL INTERNATIONAL TRADING FZE
Country of Origin : Dubai, United Arab Emirates
Legal Form : Free Zone Establishment - FZE
Registration Date : 7th April 2007
Trade Licence Number : 1079
Chamber Membership Number : 117620
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 10
Activities : Import and distribution of polyolefins
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 70,000
COMPANY NAME
BASELL
INTERNATIONAL TRADING FZE
ADDRESS
Registered & Physical Address
Street : Airport Road
Area : Dubai Airport Free Zone
PO Box : 293611
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2045970
Facsimile : (971-4) 2045969
Premises
Subject operates
from a small suite of offices that are rented and located in the Dubai Airport
Free Zone.
KEY PRINCIPALS
Name Nationality Position
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Mehernosh
Framroj Dordi Indian Managing
Director
LEGAL FORM & OWNERS
Date of Establishment : 7th
April 2007
Legal Form :
Free Zone Establishment -
FZE
Trade Licence No. : 1079
Chamber Member No. : 117620
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
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Mehernosh
Framroj Dordi 100%
OPERATIONS
Activities: Engaged in the import and
distribution of polyolefins, including polypropylene and polyethylene.
Import
Countries: Netherlands and
Germany
Subject has a
workforce of 10 employees.
FINANCIAL DATA
Subject is a newly
formed business and as a result financial information is not currently
available.
BANKERS
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Citibank
Al Maktoum Street
Deira
PO Box : 749
Dubai
Tel : (971-4) 5074121
Fax : (971-4) 2238922
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Investigations
undertaken in Dubai did not reveal any sign of payment defaults or delays
during initial trading stages, and subject is believed to meet its payment
obligations in a timely manner, nevertheless, and in view of the company’s
infancy and the lack of a more consistent payment and financial record, a
measure of caution is advisable and a close monitoring of subject’s business
development is recommended.
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%)