MIRA
INFORM REPORT
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Report Date : |
18.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
UNITED METALS FZE |
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Registered Office : |
Green Community
Building, Ground Floor, Dubai Investment Park, PO Box 212880, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
2006 |
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Legal Form : |
Free Zone Establishment - FZE |
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Line of Business : |
Import and Distribution of General Merchandise
Specialising in Base Metals |
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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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : UNITED METALS FZE
Country of Origin : Dubai, United Arab Emirates
Legal Form : Free Zone Establishment - FZE
Registration Date : 2006
Issued Capital : UAE Dh 100,000
Paid up Capital : UAE Dh 100,000
Total Workforce : 2
Activities : Import and distribution of general merchandise specialising in base metals
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : N/A
COMPANY NAME
UNITED METALS FZE
ADDRESS
Registered & Physical Address
Building : Green Community Building, Ground Floor
Area : Dubai Investment Park
PO Box : 212880
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 8019231
Facsimile : (971-4) 8019101
Mobile : (971-50) 8583897
Email : jan@united-metal.net
Premises
Subject operates
from a small suite of offices that are rented and located in the Suburban
Business Area of Dubai.
KEY PRINCIPALS
Name Position
·
Jan
Ahmed Managing
Director
LEGAL FORM & OWNERS
Date of Establishment : 2006
Legal Form :
Free Zone Establishment -
FZE
Issued Capital : UAE Dh 100,000
Paid up Capital : UAE Dh 100,000
Name of Shareholder (s)
·
Jan
Ahmed
OPERATIONS
Activities: Engaged in the import and distribution of
general merchandise specialising in base metals.
Subject has a
workforce of 2 employees.
FINANCIAL DATA
Companies
registered in Dubai, 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.
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
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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%)