MIRA
INFORM REPORT
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Report Date : |
13.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
INTER TRADELINK DMCC |
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Registered Office : |
Dubai Metals
& Commodities Centre, Emirates Street, Ras Al Khor Area, Jebel Ali Free
Zone, PO Box 48700, Dubai |
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Country : |
United Arab Emirates |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
16.01.2005 |
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Legal Form : |
Free Zone Company - FZCO |
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Line of Business : |
Traders of Agricultural and Bulk Commodities as well as
Tea. |
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 : INTER TRADELINK DMCC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Free Zone Company - FZCO
Registration Date : 16th January 2005
Trade Licence Number : 30102
Chamber Membership Number : 93874
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Total Workforce : 10
Activities : Traders of agricultural and bulk commodities as well as tea.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
COMPANY NAME
INTER TRADELINK
DMCC
ADDRESS
Registered & Physical Address
Building : Dubai Metals & Commodities Centre
Street : Emirates Street
Area : Ras Al Khor Area, Jebel Ali
Free Zone
PO Box : 48700
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 8831101
Facsimile : (971-4) 8831102
Mobile : (971-50) 6249036
Email : varma98@emirates.net.ae
Premises
Subject operates
from a small suite of offices that are rented and located in the Suburban Business
Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
·
Pan Kaj Varma Indian Managing
Director
LEGAL FORM & OWNERS
Date of Establishment : 16th
January 2005
Legal Form :
Free Zone Company - FZCO
Trade Licence No. : 30102 (Expires
21/11/2008)
Chamber Member No. : 93874
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Name of Shareholder (s) Percentage
·
Inter Tea DMCC 100%
Dubai
United Arab Emirates
OPERATIONS
Activities: Traders of agricultural and bulk
commodities as well as tea.
Import
Countries: India
Operating Trend: Steady
Subject has a
workforce of 10 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency: United Arab
Emirates Dirham (UAE Dh)
Year
Ending 31/12/06: Year
Ending 31/12/07:
Total Sales UAE Dh
11,200,000 UAE Dh
15,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures were confirmed by Mr Pan Kaj Varma, Managing Director.
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
company 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%)