MIRA
INFORM REPORT
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Report Date : |
28.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
BLUE EVOLUTION TRADING |
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Registered Office : |
Deira, PO Box 126679, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
21.04. 2008 |
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Com. Reg. No.: |
1027443, Dubai |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Wholesale and Retail of readymade garments, baby wear, textiles,
footwear, handbags and leather products, perfumes and cosmetics, imitation
jewellery, novelties and giftware, toys and games. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 15,000 |
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Status : |
New Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : BLUE EVOLUTION TRADING
Country of Origin : Dubai, United Arab Emirates
Legal Form : Sole Proprietorship
Registration Date : 21st April 2008
Commercial Registration Number : 1027443, Dubai
Trade Licence Number : 609850
Chamber Membership Number : 134546
Invested Capital : UAE Dh 100,000
Total Workforce : 2
Activities : Wholesale and retail of readymade garments, baby wear, textiles, footwear, handbags and leather products, perfumes and cosmetics, imitation jewellery, novelties and giftware, toys and games.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 15,000
COMPANY NAME
BLUE EVOLUTION
TRADING
ADDRESS
Registered & Physical Address
Location : Deira
PO Box : 126679
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3939228 / 3939278
Facsimile : (971-4) 3939128
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
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Mrs Khadija
Hassan Emirati Proprietor
& General Manager
LEGAL FORM & OWNERS
Date of Establishment : 21st
April 2008
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 1027443,
Dubai
Trade Licence No. : 609850
(Expires 16/04/2009)
Chamber Member No. : 134546
Invested Capital
: UAE Dh 100,000
Mrs Khadija Hassan
is the sole proprietor of the business.
OPERATIONS
Activities: Engaged in the wholesale and retail of
readymade garments, baby wear, textiles, footwear, handbags and leather
products, perfumes and cosmetics, imitation jewellery, novelties and giftware,
toys and games.
Subject has a
workforce of 2 employees.
FINANCIAL DATA
Subject is a newly
formed business and as a result financial information is not currently
available.
BANKERS
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Commercial
Bank of Dubai
Baniyas Street
Deira
PO Box : 1709
Dubai
Tel : (971-4) 2227121 / 2253222
Fax : (971-4) 2220943 / 2254565
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
In view of
subject’s infancy, extensive payment and financial are not available, therefore
dealings are recommended to be on secured terms, and a close monitoring of
subject’s business development is advisable.
Please note that
the correct registered name of the subject is “Blue Evolution Trading” and not
“Blue Evalution Trading”.
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%)