MIRA
INFORM REPORT
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Report Date : |
10.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
INTERNATIONAL FEDERATION OF RED CROSS & RED CRESCENT |
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Registered Office : |
Jebel Ali Free Zone, PO Box
261131, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
13.05.2004 |
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Legal Form : |
Non-Profit Organisation |
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Line of Business : |
Provision of a Strategic Stock of Relief and
Emergency Materials. |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 200,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name :
INTERNATIONAL FEDERATION OF RED CROSS & RED
CRESCENT
Country of Origin :
Dubai, United Arab Emirates
Legal Form :
Non-Profit Organisation
Registration Date :
13th May 2004
Licence Number :
4832
Total Workforce :
16
Line of Business :
Provision of a strategic stock of relief and
emergency materials.
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
COMPANY NAME
INTERNATIONAL FEDERATION OF RED CROSS & RED CRESCENT
ADDRESS
Registered & Physical Address
Location : Jebel Ali Free Zone
PO Box : 261131
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 8833887
Facsimile : (971-4) 8832212
Email : shamalinee.gunawardena@ifrc.org
Premises
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Industrial Area of Dubai.
KEY PRINCIPALS
· Don
Abercombi General
Manager
· Goran
Zuber Global
Fleet Coordinator
· Gorkhamaz
Hussienov Logistics
Coordinator
LEGAL FORM & OWNERS
Date of
Establishment : 13th
May 2004
Legal Form : Non-Profit
Organisation
Licence No. : 4832
Name of Shareholder (s) Percentage
· International
Federation of Red Cross 100%
and Red Crescent Societies
P.O. Box 372
CH-1211 Geneva 19
Switzerland
Tel: (41-22) 7304222
Fax: (41-22) 7330395
LINE OF BUSINESS
Operations: The subject was set up to provide a strategic
stock of relief and emergency materials.
It is in charge of providing
various types of the relief material in accordance to the applied international
standards of relief and emergency. It provides the humanitarian organizations
and national societies inside and outside the country, with the relief
materials. It also works in coordination with the International Federation of
Red Cross and Red Crescent Societies (IFRC) in the area of export, import,
training and clearance, in such a way that does not violate with the agreements
and conventions signed with the state.
Subject has a workforce of 16 employees.
FINANCIAL HIGHLIGHTS
No financial information was available.
BANKERS
·
Emirates Bank International Ltd
Jebel Ali Free Zone Branch
PO Box: 2923
Dubai
Tel: (971-4) 8815551
Fax: (971-4) 8815545
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 150,000:
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.
Maximum suggested credit figure: US$ 200,000
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%)