MIRA
INFORM REPORT
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Report Date : |
23.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
ASR OVERSEAS FZE |
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Registered Office : |
RAK Free Trade
Zone, PO Box 44772
& 10559, Ras Al Khaimah |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
14.01.2008 |
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Legal Form : |
Free Zone Establishment - FZE |
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Line of Business : |
Import and Distribution of Timber,
Wood and Building Materials |
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$ 30,000 |
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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 : ASR OVERSEAS FZE
Country of Origin : Ras Al Khaimah, United Arab Emirates
Legal Form : Free Zone Establishment - FZE
Registration Date : 14th January 2008
Trade Licence Number : 5002102
Issued Capital : UAE Dh 100,000
Paid up Capital : UAE Dh 100,000
Total Workforce : 3
Activities : Import and distribution of timber, wood and building materials
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 30,000
COMPANY NAME
ASR OVERSEAS FZE
ADDRESS
Registered & Physical Address
Location : RAK Free Trade Zone
PO Box : 44772
& 10559
Town : Ras Al Khaimah
Country : United Arab Emirates
Telephone : (971-7) 2046854
Facsimile : (971-7) 2041010
Email : crostrad@eim.ae
Premises
Subject operates from
a small suite of offices that are rented and located in the RAK Free Trade
Zone.
KEY PRINCIPALS
Name Position
·
Arun
Kumar Managing
Director
·
Vijay
Anand Commercial
Manager
LEGAL FORM & OWNERS
Date of Establishment : 14th
January 2008
Legal Form :
Free Zone Establishment -
FZE
Trade Licence No. : 5002102
Issued Capital : UAE Dh 100,000
Paid up Capita l : UAE Dh 100,000
Name of Shareholder (s) Percentage
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Arun
Kumar 100%
OPERATIONS
Activities: Engaged in the import and distribution of timber, wood and building materials.
Import
Countries: Asia and the
United States of America
Subject has a
workforce of 3 employees.
FINANCIAL DATA
Subject is a newly
formed business and as a result financial information is not currently
available.
BANKERS
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Mashreq Bank
Plc
Al Nakheel Branch
Ras Al Khaimah
Tel : (971-7) 221695
Fax : (971-7) 221880
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%)