MIRA
INFORM REPORT
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Report Date : |
09.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
UNIK VISION LLC |
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Registered Office : |
Mohamed Mahmood Ad-Dalal Building, Sikkat Al Khail Street, Al Bateen,
PO Box 112906, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
28.10.2003 |
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Com. Reg. No.: |
64626, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Distributors of ready made Garments, Footwear, Luggage, Travel |
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$ 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : UNIK VISION LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 28th October 2003
Commercial Registration Number : 64626, Dubai
Trade Licence Number : 550247
Membership Number : 81841
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 3
Line of Business : Distributors of ready made garments, footwear, luggage, travel
requisites, jewellery, perfumes, cosmetics and watches.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
UNIK VISION LLC
ADDRESS
Registered & Physical Address
Building : Mohamed Mahmood Ad-Dalal
Building
Street : Sikkat Al
Khail Street
Area : Al Bateen
PO Box : 112906
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2291087
Facsimile : (971-4)
2291265
Email : unik@emirates.net.ae
Premises
Subject operates from a small suite of offices and a showroom that are rented
and located in the Central Business Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
· Khalid Kazim
Mohamed Abdullah Alshams Emirati Director
LEGAL FORM & OWNERS
Date of
Establishment : 28th
October 2003
Legal Form : Sharikat Thet
Massouliya Mahdoudeh (Limited Liability Company - LLC)
Commercial Reg.
No. : 64626, Dubai
Trade Licence No. : 550247 (Expires 24th October
2008)
Membership No. : 81841
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s)
· Khalid Kazim
Mohamed Abdulla Alshams
LINE OF BUSINESS
Operations : Engaged in the import and distribution of ready
made garments, footwear, luggage, travel
requisites, jewellery, perfumes, cosmetics and watches.
Import Countries : Europe and the Far East.
Operating Trend : Steady
Subject has a workforce of 3 employees.
FINANCIAL HIGHLIGHTS
Financial highlights provided by outside sources are given below :
Currency : United Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/05 : Year
Ending 31/12/06 :
Total Sales UAE
Dh 5,390,000 UAE
Dh 6,000,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
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Standard Chartered Bank
Khalid Bin Waleed
Street
PO Box : 999
Dubai
Tel : (971-4) 2520455
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in 2003, subject is involved in the import and distribution
of ready made garments, footwear, luggage, travel requisites, jewellery, perfumes,
cosmetics and watches.
Local sources report that payment obligations are met in a generally
timely manner and the operating history is clear. As such the company is deemed
a fair trade risk and the above credit figure is considered to be within subject’s
financial means.
Maximum suggested credit figure: US$ 150,000
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%)