MIRA
INFORM REPORT
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Report Date : |
21.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
MEDICAST TRADING LLC |
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Registered Office : |
Al Shrafi Centre,
Suite M-3, PO Box 119661, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
28.05. 2005 |
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Com. Reg. No.: |
74234, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Import and Distribution of Para-Pharmaceuticals |
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 : MEDICAST TRADING LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 28th May 2005
Commercial Registration Number : 74234, Dubai
Trade Licence Number : 569624
Chamber Membership Number : 97771
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 6
Activities : Import and distribution of para-pharmaceuticals.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 150,000
COMPANY NAME
MEDICAST TRADING
LLC
ADDRESS
Registered & Physical Address
Location : Al Shrafi Centre, Suite M-3
PO Box : 119661
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3964141
Facsimile : (971-4) 3964052
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
·
Arvind
Chotalal Lakho Bhai Indian Managing
Director
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Jitendra Kumar
Porochutam Das Sashadi Indian Director
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Baioush Basho
Bahai Ghantra Indian Director
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Ameet Pajoya
Hai Indian Director
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Mrs Fawzya
Mohamed Emirati Director
LEGAL FORM & OWNERS
Date of Establishment : 28th
May 2005
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 74234, Dubai
Trade Licence No. : 569624
(Expires 27/05/2008)
Chamber Member No. : 97771
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
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Mrs Fawzya
Mohamed 51%
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Ameet Pajoya
Hai 12%
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Baioush Basho
Bahai Ghantra 12%
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Jitendra Kumar
Porochutam Das Sashadi 13%
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Arvind
Chotalal Lakho Bhai 12%
OPERATIONS
Activities: Engaged in the import and distribution of
para-pharmaceuticals.
Import
Countries: United States of
America, Austria, Germany and India
Subject has a
workforce of 6 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
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Habib Bank Ltd
Trade Service Centre
Murshid Bazaar
PO Box : 888
Dubai
Tel : (971-4) 2221281
Fax : (971-4) 2284631
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%)