MIRA
INFORM REPORT
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Report Date : |
19.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
VINAYAK IMPEX FZE |
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Registered Office : |
Ajman Free Zone, Ajman |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
2007 |
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Legal Form : |
Free Zone
Establishment - FZE |
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Line of Business : |
Import and Export
of Timber and Woods. |
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$ 30,000 |
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Status : |
New and Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : VINAYAK IMPEX FZE
Country of Origin : United
Arab Emirates
Legal Form :
Free Zone Establishment - FZE
Registration Date : 2007
Issued Capital : UAE Dh
300,000
Paid up Capital : UAE Dh
300,000
Total Workforce : 2
Activities :
Import and export of timber and woods.
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
Recommended Credit
Limit : US$ 30,000
COMPANY NAME
VINAYAK IMPEX FZE
ADDRESS
Registered Address
Location : Ajman Free
Zone
Town : Ajman
Country : United Arab
Emirates
Physical Address
Location : Bur Dubai
PO Box : 117285
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 3556796
Facsimile : (971-4) 3556796
Mobile : (971-50) 8447412
Premises
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Central Business Area of Dubai.
KEY PRINCIPALS
Name Position
· Amitab
Saboo Managing
Director
LEGAL FORM & OWNERS
Date of
Establishment : 2007
Legal Form : Free Zone
Establishment - FZE
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
· Amitab
Saboo 100%
OPERATIONS
Activities: Engaged as general traders, specialising in the import and export of timber and woods.
Import Countries: India, Malaysia and Canada,
Subject has a workforce of 2 employees.
FINANCIAL DATA
Subject is a newly formed business and as a result financial information
is not currently available.
BANKERS
·
National Bank of Ras Al Khaimah
Al Maktoum Street
PO Box : 1531
Dubai
Tel : (971-4) 2226291
Fax : (971-4) 2281312
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
In view of subject’s infancy, extensive payment and financial are not
available, therefore dealings are recommended to be on secured terms, and a
close monitoring of subject’s business development is advisable.
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%)