MIRA
INFORM REPORT
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Report Date : |
23.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
AL MAYA INTERNATIONAL LIMITED FZC |
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Registered Office : |
Al Maya Lal’s Building, Airport Road, Area, Garhoud, Deira, PO Box
8476, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
16th December 2002 |
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Legal Form : |
Free Zone Company - FZCO |
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Line of Business : |
Subject acts as a parent company for the Al Maya Group offering
centralised administration, finance and logistical support for the individual
companies within the group. |
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$ 750000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name :
AL MAYA INTERNATIONAL LIMITED FZC
Country of Origin :
Dubai, United Arab Emirates
Legal Form :
Free Zone Company - FZCO
Registration Date :
16th December 2002
Trade Licence Number :
01-04-01597
Issued Capital :
UAE Dh 1,000,000
Paid up Capital :
UAE Dh 1,000,000
Total Workforce :
50
Activities :
Subject acts as a parent company for the Al Maya Group.
Financial Condition :
Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit :
US$ 750,000
COMPANY NAME
AL MAYA INTERNATIONAL LIMITED FZC
ADDRESS
Registered & Physical Address
Building : Al Maya Lal’s Building
Street : Airport Road
Area : Garhoud,
Deira
PO Box : 8476
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2822555
Facsimile : (971-4)
2826660
Email : algroup@emirates.net.ae
Branch address
P O Box 8714,
Sharjah
Premises
Subject operates from a medium sized suite of offices and a warehouse
that are rented and located in the Suburban Business Area of Dubai.
KEY PRINCIPALS
Name Position
Lakchman Daz Pagrani Managing
Director
Depak Lakchman Daz Director
Veshani Kamel Director
Gansham Lahori Finance
Manager
Ashok Parsawani Commercial
Manager
LEGAL FORM & OWNERS
Date of Establishment : 16th December 2002
Legal Form : Free Zone Company - FZCO
Trade Licence No. : 01-04-01597
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Name of Shareholder (s)
Lakchman Daz Pagrani
Depak Lakchman Daz
Veshani Kamel
Al Maya Investment International
British Virgin Islands
AFFILIATED COMPANIES
Subject is a member of the Al Maya Group of Companies, which includes
the following concerns:
U.P.F. International LLC United Arab Emirates
Al Maya (UK) Ltd. United Kingdom
Basmati Rice (UK) Limited United Kingdom
Al Maya International LLC Oman
Al Jadeed Trading Co. W.L.L. Qatar
Al Jadeed Trading Stores Bahrain
Adel Yacob Al Ghanim Gen. Trading Kuwait
Al Maya International W.L.L Qatar
AMG Retail S.p.Zo.o. Poland
Maya Global Pvt. Ltd. India
OPERATIONS
Activities: Subject acts as a parent company for the Al Maya Group offering
centralised administration, finance and logistical support for the individual
companies within the group.
It is also engaged in the import and distribution of general merchandise,
including ready made garments, electronic products, toys and games.
Import Countries: Europe and GCC countries.
Subject has a workforce of 50 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
HSBC Bank Middle East
Deira Souk Branch
PO Box : 66
Dubai
Tel : (971-4) 2535000
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
Date of transaction April
2007
Credit amount 68,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency Pounds
Sterling
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%)