MIRA
INFORM REPORT
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Report Date : |
23.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
ARAB BUSINESS CENTRE |
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Registered Office : |
World Trade
Centre, 1 Island Street, Business Park, PO Box 5398, Ras Al Khaimah |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
2002 |
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Legal Form : |
Free Zone Company - FZC |
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Line of Business : |
Import and Distribution of cement, clinker, steel,
sulphur, bitumen, fertilizer, sugar and hydrated lime |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
US$ 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : ARAB BUSINESS CENTRE
Country of Origin : Ras Al Khaimah, United Arab Emirates
Legal Form : Free Zone Company - FZC
Registration Date : 2002
Issued Capital : UAE Dh 100,000
Paid up Capital : UAE Dh 100,000
Total Workforce : 5
Activities : Import and distribution of cement, clinker, steel, sulphur, bitumen, fertilizer, sugar and hydrated lime
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 150,000
COMPANY NAME
ARAB BUSINESS
CENTRE
ADDRESS
Registered & Physical Address
Building : World Trade Centre
Street : 1 Island Street
Area : Business Park
PO Box : 5398
Town : Ras Al Khaimah
Country : United Arab Emirates
Telephone : (971-7) 2277818
Facsimile : (971-7) 2277819
Mobile : (971-50) 6702424 / 6476551
Email : abcentre@emirates.net.ae
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Ras Al Khaimah.
KEY PRINCIPALS
Name Position
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John
P. Mathew Managing
Director
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Sunny
Varughese Director
LEGAL FORM & OWNERS
Date of Establishment : 2002
Legal Form :
Free Zone Company - FZC
Issued Capital : UAE Dh 100,000
Paid up Capital : UAE Dh 100,000
Name of Shareholder (s)
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John
P. Mathew
·
Sunny
Varughese
OPERATIONS
Activities: Engaged in the import and distribution of
cement, clinker, steel, sulphur, bitumen, fertilizer, sugar and
hydrated lime.
Import
Countries: India, China and
Egypt
Subject has a workforce
of 5 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.
BANKERS
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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 and the above credit figure is
within subject’s financial means.
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%)