MIRA
INFORM REPORT
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Report Date : |
30.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
EXPAT PROPERTIES |
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Registered Office : |
Mohamed Abdullah
Al Mulla Building, 2nd Floor, Suite 207, Abu Hail Street, Hor Al
Anz East, Deira, Al Muteena Area, PO Box
181681, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
14.04. 2002 |
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Com. Reg. No.: |
90569, Dubai |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Real Estate Brokers |
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 : EXPAT PROPERTIES
Country of Origin : Dubai, United Arab Emirates
Legal Form : Sole Proprietorship
Registration Date : 14th April 2002
Commercial Registration Number : 90569, Dubai
Trade Licence Number : 533206
Chamber Membership Number : 68275
Invested Capital : UAE Dh 100,000
Total Workforce : 6
Activities : Real estate brokers
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 200,000
COMPANY NAME
EXPAT PROPERTIES
ADDRESS
Registered & Physical Address
Building : Mohamed Abdullah Al Mulla
Building, 2nd Floor, Suite 207
Street : Abu Hail Street
Area : Hor Al Anz East, Deira, Al Muteena Area
PO Box : 181681
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2973932
Facsimile : (971-4) 2974345
Email : expatdxb@emirates.net.ae
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
·
Santosh
Shetty Indian Proprietor
& General Manager
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Venod
Bhatia - Administration
Manager
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Tariq Yousuf
Abdullah Al Mirza Emirati Local
Sponsor
LEGAL FORM & OWNERS
Date of Establishment : 14th
April 2002
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 90569, Dubai
Trade Licence No. : 533206
Chamber Member No. : 68275
Invested Capital
: UAE Dh 100,000
Mr Santosh Shetty is the sole proprietor of the
business.
OPERATIONS
Activities: Engaged as real estate brokers.
Subject has a
workforce of 6 employees.
FINANCIAL DATA
Companies
registered in Dubai are not legally required to make their accounts public and
no financial information was released by the company or submitted by outside
sources.
BANKERS
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Mashreq Bank
Plc
Deira Branch
PO Box : 1250
Dubai
Tel : (971-4) 2229131 / 2221134
Fax : (971-4) 2233784
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
business 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%)