MIRA
INFORM REPORT
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Report Date : |
22.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
AGRI COMMODITIES & FINANCE FZE |
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Registered Office : |
208/B Twin
Towers, Deira, PO Box 40410, 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 : |
2002 |
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Legal Form : |
Free Zone Establishment - FZE |
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Line of Business : |
Import and Distribution of Agricultural Products,
including Chemicals and Fertilizers. |
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 : AGRI COMMODITIES & FINANCE FZE
Country of Origin : Dubai, United Arab Emirates
Legal Form : Free Zone Establishment - FZE
Registration Date : 2002
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Total Workforce : 4
Activities : Import and distribution of agricultural products, including chemicals and
fertilizers.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
AGRI COMMODITIES
& FINANCE FZE
ADDRESS
Registered & Physical Address
Location : 208/B Twin Towers
Area : Deira
PO Box : 40410
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2238801
Facsimile : (971-4) 2238861/3
Email : sales@acfdxb.com
Premises
Subject operates from
a small suite of offices and a warehouse that are rented and located in the
Central Business Area of Dubai.
KEY PRINCIPALS
Name Position
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Pheeraj
Purohit Managing
Director
LEGAL FORM & OWNERS
Date of Establishment : 2002
Legal Form :
Free Zone Establishment -
FZE
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE
Dh 1,000,000
Name of Shareholder (s) Percentage
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Pheeraj
Purohit 100%
OPERATIONS
Activities: Engaged in the import and distribution of agricultural
products, including chemicals and fertilizers.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 4 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 6,250,000 UAE Dh 7,100,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
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.
Date of
transaction February
2007
Credit amount 150,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency US
Dollars
GENERAL COMMENTS
Established in 2002,
subject is involved in the import and distribution of agricultural products,
including chemicals and fertilizers.
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.
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%)