MIRA
INFORM REPORT
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Report Date : |
02.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
AL NIJOM TRADING FZE |
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Registered Office : |
Saif Zone,
Sharjah |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
13.12. 2004 |
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Legal Form : |
Free Zone Establishment - FZE |
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Line of Business : |
Import and Export of Heavy Equipment
and Machinery |
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 : AL NIJOM TRADING FZE
Country of Origin : Sharjah, United Arab Emirates
Legal Form : Free Zone Establishment - FZE
Registration Date : 13th December 2004
Trade Licence Number : 40416
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Total Workforce : 5
Activities : Import and export of heavy equipment and machinery
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 100,000
COMPANY NAME
AL
NIJOM TRADING FZE
ADDRESS
Registered Address
Location : Saif Zone
Town : Sharjah
Country : United Arab Emirates
Physical Address
Building : Silver Front Building, 3rd Floor, Suite No.
307
Street : Al Burj Street
Area : Deira
PO Box : 29735
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2279886
Facsimile : (971-4) 2279887
Mobile : (971-50) 1602714
Email : alnijom2@eim.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
·
Adel
Najem Abid Majid Iraqi Managing
Director
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Ahmed
Iqibal Sayed - General
Manager
LEGAL FORM & OWNERS
Date of Establishment : 13th
December 2004
Legal Form :
Free Zone Establishment -
FZE
Trade Licence No. : 40416, Saif Zone (Expires 12/12/2008)
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Name of Shareholder (s) Percentage
·
Adel
Najem Abid Majid 100%
OPERATIONS
Activities: Engaged in the import
and export of heavy equipment and machinery including agricultural pumps,
engines and
generators.
Import
Countries: India and Japan.
International
Suppliers:
·
Usha
International India
·
Koshin
Ltd Japan
Subject has a workforce
of 5 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
·
Commercial
Bank of Dubai
Mankhool Street
PO Box : 2668
Dubai
Tel : (971-4) 3523355
Fax : (971-4) 3527655 / 2524796
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%)