MIRA
INFORM REPORT
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Report Date : |
26.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
REINTJES MIDDLE EAST LLC |
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Registered Office : |
Al Qutaeyat Road, Dubai Ship Docking Yard, Jadaf Area, PO Box 31449,
Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
10.06.1990 |
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Com. Reg. No.: |
49129, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Import and Distribution of ships and boat spare parts and
components as well as providing repair services for marine equipment and
engines. |
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$ 175,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : REINTJES MIDDLE EAST LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 10th June 1990
Commercial Registration Number : 49129, Dubai
Trade Licence Number : 246792
Chamber Membership Number : 19395
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 11
Activities : Import and distribution of ships and boat spare parts and components as well as providing repair services for marine equipment and engines.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 175,000
COMPANY NAME
REINTJES MIDDLE EAST LLC
ADDRESS
Registered & Physical Address
Street : Al Qutaeyat
Road
Area : Dubai Ship
Docking Yard, Jadaf Area
PO Box : 31449
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 3243770
Facsimile : (971-4)
3243775
Email : reintjes@emirates.net.ae
Premises
Subject operates from a medium sized suite of offices, a workshop and
warehousing that are rented and located in the Industrial Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
· Ali Reza
Nakhdjavani German Managing Director
LEGAL FORM & OWNERS
Date of
Establishment : 10th
June 1990
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 49129, Dubai
Trade Licence No. : 246792 (Expires 18/03/2011)
Chamber Member No. : 19395
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
· Ali Hassan Hussain 51%
· Reintjes GmbH 49%
Germany
OPERATIONS
Activities: Engaged in the import and distribution of ships and boat spare parts
and components as well as providing repair services for marine equipment and
engines.
Import Countries: Germany and the United Kingdom.
Subject has a workforce of 11 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
·
Emirates Bank International Ltd
Beniyas Road
Deira
PO Box : 2923
Dubai
Tel : (971-4)
2256256 / 2256900
Fax : (971-4)
2268005 / 2267718
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%)