MIRA
INFORM REPORT
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Report Date : |
26.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
AKSHAR STAR INTERNATIONAL GENERAL TRADING LLC |
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Registered Office : |
Jebel Ali Free Zone, Area No. 1, PO Box 16167 Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
23.07.2007 |
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Com. Reg. No.: |
1013698, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Import, distribution and export of scraps such as industrial scrap, ferrous and nonferrous scraps, tile, granite, granite, marble, 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$ 50,000 |
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Status : |
New Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : AKSHAR STAR INTERNATIONAL GENERAL TRADING LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 23rd July 2007
Commercial Registration Number : 1013698, Dubai
Trade Licence Number : 598353
Chamber Membership Number : 121840
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 6
Activities :
Import, distribution and
export of scraps such as industrial scrap, ferrous and nonferrous scraps, tile,
granite, granite, marble, and building materials
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 50,000
COMPANY NAME
AKSHAR STAR INTERNATIONAL GENERAL TRADING LLC
ADDRESS
Registered
& Physical Address
Location : Jebel Ali
Free Zone, Area No. 1
PO Box : 16167
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 8804678
Facsimile : (971-4)
8804678
Mobile : (971-50)
9198240
Premises
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Jebel Ali Free Zone.
KEY PRINCIPALS
Name Nationality Position
· Ogaz Banujandra
Bathil American Managing Director
· Hayman Jamal
Hussain Abdullatif Al Serkal Emirati Director
· Janan Mahmood Emirati Director
LEGAL FORM & OWNERS
Date of
Establishment : 23rd
July 2007
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 1013698, Dubai
Trade Licence No. : 598353 (Expires 18/07/2008)
Chamber Member No. : 121840
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name
of Shareholder (s) Percentage
· Ogaz Banujandra
Bathil 49%
· Hayman Jamal
Hussain Abdullatif Al Serkal 26%
· Janan Mahmood 25%
OPERATIONS
Activities: Engaged in the import, distribution and
export of scraps such as industrial scrap, ferrous and nonferrous scraps, tile, granite,
granite, marble, and building materials.
Subject has a workforce of 6 employees.
FINANCIAL DATA
Subject is a newly formed business and as a result financial information
is not currently available.
BANKERS
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The Standard Chartered Bank
Jebel Ali Free Zone
PO Box : 999
Dubai
Tel : (971-4) 8856600
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Investigations undertaken in Dubai did not reveal any sign of payment defaults
or delays during initial trading stages, and subject is believed to meet its
payment obligations in a timely manner, nevertheless, and in view of the
company’s infancy and the lack of a more consistent payment and financial
record, a measure of caution is advisable and a close monitoring of subject’s
business development is recommended.
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%)