MIRA
INFORM REPORT
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Report Date : |
20.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
BLUE STAR MIDDLE EAST FZE |
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Registered Office : |
Hamriyah Free Zone, Plot No. 2F/34, PO Box 41727, Sharjah |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
22.10.2002 |
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Legal Form : |
Free Zone Company - FZCO |
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Line of Business : |
Import and Export of
Refrigeration Equipment and Medical Equipment. |
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$ 100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : BLUE STAR MIDDLE EAST FZE
Country of Origin : Sharjah, United Arab Emirates
Legal Form : Free Zone Company - FZCO
Registration Date : 22nd October 2002
Trade Licence Number : 382
Chamber Membership Number : 800180
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Total Workforce : 20
Activities : Import and export of refrigeration equipment and medical equipment.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 100,000
COMPANY NAME
BLUE STAR MIDDLE EAST FZE
ADDRESS
Registered & Physical Address
Location : Hamriyah Free Zone, Plot No. 2F/34
PO Box : 41727
Town : Sharjah
Country : United Arab
Emirates
Telephone : (971-6) 5263405
Facsimile : (971-6) 5263405
Mobile :
(971-50) 9577680
Email : hdudani@bluestarindia.com
Premises
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Hamriyah Free Zone.
KEY PRINCIPALS
Name Position
· H. P.
Dudadani Managing
Director
· Shashank
Dayanand Mharte General
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 22nd
October 2002
Legal Form : Free Zone
Establishment - FZE
Trade Licence No. : 382, Hamriyah
Free Zone
Chamber Member No. : 800180
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Name of Shareholder (s)
· Blue
Star Limited
Jamshedji Tata Road
Mumbai
400 020
India
Tel: (91-22) 66654000
OPERATIONS
Activities: Engaged in the import and export of refrigeration
equipment and medical equipment.
Import Countries: India
Subject has a workforce of 20 employees.
FINANCIAL DATA
Companies registered in Sharjah, 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
·
Mashreq Bank Plc
Foreign Trade
Centre
Al Boorj Avenue
PO Box : 9271
Sharjah
Tel : (971-6)
5351366 / 5354873
Fax : (971-6)
5372903
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.
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%)