MIRA
INFORM REPORT
|
Report Date : |
17.06.2008 |
IDENTIFICATION
DETAILS
|
Name : |
CASTELO CERAMIC FZE |
|
|
|
|
Registered Office : |
RAK Free Trade
Zone, PO Box 10559, Ras Al Khaimah |
|
|
|
|
Country : |
United Arab Emirates |
|
|
|
|
Date of Incorporation : |
2003 |
|
|
|
|
Legal Form : |
Free Zone Establishment - FZE |
|
|
|
|
Line of Business : |
Import and Distribution of Ceramics |
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 |
|
Maximum Credit Limit : |
US$ 50,000 |
|
|
|
|
Status : |
Small Company |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name : CASTELO CERAMIC FZE
Country of Origin : Ras Al Khaimah, United Arab Emirates
Legal Form : Free Zone Establishment - FZE
Registration Date : 2003
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 2
Activities : Import and distribution of ceramics
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 50,000
COMPANY NAME
CASTELO CERAMIC FZE
ADDRESS
Registered & Physical Address
Location : RAK Free Trade Zone
PO Box : 10559
Town : Ras Al Khaimah
Country : United Arab Emirates
Mobile : (971-50) 2167443 / 5537718
Premises
Subject operates
from a small suite of offices that are rented and located in the RAK Free Trade
Zone.
Branch Office (s)
Location Description
·
PO Box 44513 Rented
sales office
Dubai
Tel: (971-4) 2863811
Fax: (971-4) 2863822
KEY PRINCIPALS
Name Nationality Position
·
Julio Bonet
Dean Spanish Managing Director
·
Parkash
Devnani - General
Manager
LEGAL FORM & OWNERS
Date of Establishment : 2003
Legal Form :
Free Zone Establishment -
FZE
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
·
Julio Bonet
Dean 100%
OPERATIONS
Activities: Engaged in the import and distribution of
ceramics.
Import
Countries: Spain
Subject has a workforce
of 2 employees.
FINANCIAL DATA
Companies
registered in Ras Al Khaimah, 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.
Mr Parkash Devnani declined to divulge any financial
information to our local sources.
BANKERS
·
National Bank
of Ras Al Khaimah
NBRAK Building
PO Box : 5300
Ras Al Khaimah
Tel : (971-7) 2221127
Fax : (971-7) 2224202
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.
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%)