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MIRA
INFORM REPORT
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Report Date : |
20.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
GOLDEN STAR INTERNATIONAL FOODSTUFF LLC (GSI) |
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Registered Office : |
Zainal Baqer Building, Warehouse No. 19, Sheikh
Zayed Road, Al Qusais Industrial Area, PO Box 42771, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
May 1999 |
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Com. Reg. No.: |
56387, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Import and Distribution of General Foodstuff and
Beverages. |
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$ 200,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : GOLDEN STAR INTERNATIONAL FOODSTUFF LLC (GSI)
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Start Date : May 1999
Registration Date : 3rd April 2000
Commercial Registration Number : 56387, Dubai
Trade Licence Number : 517563
Chamber Membership Number : 58372
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Total Workforce : 10
Activities : Import and distribution of general foodstuff and beverages.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 200,000
COMPANY NAME
GOLDEN STAR INTERNATIONAL FOODSTUFF LLC (GSI)
ADDRESS
Registered & Physical Address
Building : Zainal Baqer
Building, Warehouse No. 19
Street : Sheikh Zayed Road
Area : Al Qusais
Industrial Area
PO Box : 42771
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 3402492
Facsimile : (971-4)
3402491
Email : golstar@emirates.net.ae
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
Name Nationality Position
· Pradeep
Ghanshyamdas Gandhi Indian Managing Director
· Vinay Ghanshyamdas
Gandhi Indian Director
· Mohamed Fairooz
Mohamed Ali Hassan Al Hassan Emirati Director
· Vijay
Ghandi Indian Sales Manager
LEGAL FORM & OWNERS
Date of Establishment : Subject began operations in May 1999 and
was registered on 3rd April 2000
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 56387, Dubai
Trade Licence No. : 517563 (Expires 31/03/2008)
Chamber Member No. : 58372
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Name of Shareholder (s) Percentage
· Mohamed Fairooz
Mohamed Ali Hassan Al Hassan 51%
· Pradeep
Ghanshyamdas Gandhi 25%
· Vinay Ghanshyamdas
Gandhi 24%
OPERATIONS
Activities: Engaged in the import and distribution of general foodstuff and
beverages, including snacks, biscuits,
canned vegetables & fruits, preserves, sauces & pastes, canned
meat, confectionery, herb & condiments, pasta & noodles, wide variety
of dairy products, chilled & frozen products.
Import Countries: India, Pakistan and Southeast Asia.
Subject has a workforce of 10 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.
BANKERS
·
Middle East Bank Ltd
Arbit Tower
Beniyas Street
PO Box : 5547
Dubai
Tel : (971-4)
2220121
·
HSBC Bank Middle East
Deira Souk Branch
PO Box :
66
Dubai
Tel :
(971-4) 2535000
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.
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%)