MIRA
INFORM REPORT
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Report Date : |
12.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
ERA TRADING FZC |
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Registered Office : |
Dubai
Airport Free Zone, East Side , 4E, Block A, Room No 818, PO Box
123008, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
2007 |
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Legal Form : |
Free Zone Company - FZCO |
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Line of Business : |
Import and Export of Industrial
Equipment |
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$ 20,000 |
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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 : ERA TRADING FZC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Free Zone Company - FZCO
Registration Date : 2007
Issued Capital : UAE Dh 100,000
Paid up Capital : UAE Dh 100,000
Total Workforce : 2
Activities : Import and export of industrial equipment
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 20,000
COMPANY NAME
ERA TRADING FZC
ADDRESS
Registered & Physical Address
Location : Dubai
Airport Free Zone, East Side , 4E, Block A, Room No 818
PO Box : 123008
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2045652
Facsimile : (971-4) 2045694
Email : reza_jamili@yahoo.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Dubai Airport Free Zone.
KEY PRINCIPALS
Name Position
·
Reza
Jamili Managing
Director
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Ms
Ann Adamos Administrative
Secretary
LEGAL FORM & OWNERS
Date of Establishment : 2007
Legal Form :
Free Zone Company - FZCO
Issued Capital : UAE Dh 100,000
Paid up Capital : UAE Dh 100,000
Name of Shareholder (s)
·
Reza
Jamili
OPERATIONS
Activities: Engaged in the import
and export of industrial equipment.
Subject has a
workforce of 2 employees.
FINANCIAL DATA
Subject is a newly formed
business and as a result financial information is not currently available.
BANKERS
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Habib Bank AG
Zurich
Baniyas Road
PO Box 3306
Dubai
Tel: (971-4) 2214535
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
In view of
subject’s infancy, extensive payment and financial are not available, therefore
dealings are recommended to be on secured terms, and a close monitoring of
subject’s business development is advisable.
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%)