MIRA
INFORM REPORT
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Report Date : |
20.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
SILGO INTERNATIONAL LTD |
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Registered Office : |
Ajman New Industrial Area, PO Box
1374, Ajman |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
1994 |
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Legal Form : |
Limited Liability
Company - LLC |
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Line of Business : |
Manufacture of Granite and Marble as well as Fibreglass. |
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 : SILGO INTERNATIONAL LTD
Country of Origin : Ajman,
United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date : 1994
Issued Capital : UAE Dh
150,000
Paid up Capital : UAE Dh
150,000
Total Workforce : 42
Activities :
Manufacture of granite and marble as well as
fibreglass.
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
Recommended Credit
Limit : US$ 100,000
COMPANY NAME
SILGO INTERNATIONAL LTD
ADDRESS
Registered & Physical Address
Location : Ajman New
Industrial Area
PO Box : 1374
Town : Ajman
Country : United Arab
Emirates
Telephone : (971-6) 7438544 / 7436544
Facsimile : (971-6) 7434987
Email : silgo@emirates.net.ae
Premises
Subject operates from a medium sized suite of offices and a factory that
are rented and located in the Industrial Area of Ajman.
KEY PRINCIPALS
Name Position
· Balden
Behl Managing
Director
· Guredn
Behl Director
· S.
Raghvan Sales
Manager
· E.S
Gopinath Marketing
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 1994
Legal Form : Limited Liability
Company - LLC
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Name of Shareholder (s)
· Balden
Behl
· Guredn
Behl
OPERATIONS
Activities: Engaged in the manufacture of granite and
marble as well as fibreglass.
Import Countries: India and China
Subject has a workforce of 42 employees.
FINANCIAL DATA
Companies registered in Ajman, 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
·
Bank of Baroda
Mina Road
Al Maraijah
PO Box: 1671
Sharjah
Tel: (971-6) 5354231
Fax: (971-6) 5543025
Acc No.
0004404268090
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%)