MIRA
INFORM REPORT
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Report Date : |
28.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
WINDSOR FOODSTUFF FACTORY LTD |
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Registered Office : |
Industrial Area
No. 3, PO Box 22731 & 65821, Sharjah |
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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 : |
01.03. 1995 |
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Com. Reg. No.: |
26555, Sharjah |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Production of Foodstuff |
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$ 275,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : WINDSOR FOODSTUFF FACTORY LTD
Country of Origin : Sharjah, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 1st March 1995
Commercial Registration Number : 26555, Sharjah
Trade Licence Number : 10543
Chamber Membership Number : 36297
Issued Capital : UAE Dh 500,000
Paid up Capital : UAE Dh 500,000
Total Workforce : 28
Activities : Production of foodstuff
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 275,000
COMPANY NAME
WINDSOR FOODSTUFF
FACTORY LTD
ADDRESS
Registered & Physical Address
Location : Industrial Area No. 3
PO Box : 22731 & 65821
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 5326808 / 5434808
Facsimile : (971-6) 5246694 / 5434088
Email : kenbee@emirates.net.ae
Premises
Subject operates
from a medium sized suite of offices and a factory that are rented and located
in the Industrial Area of Sharjah.
KEY PRINCIPALS
Name Nationality Position
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Vijay
Shaiji Sawrup Kenyan Managing Director
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Shailes
Kumar Thakwani Indian Director
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Ahmed
Mohamed Abdullah Al Ali Emirati Director
LEGAL FORM & OWNERS
Date of Establishment : 1st
March 1995
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 26555, Sharjah
Trade Licence No. : 10543 (Expires 27/02/2009)
Chamber Member No. : 36297
Issued Capital : UAE Dh 500,000
Paid up Capital : UAE Dh 500,000
Name of Shareholder (s) Percentage
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Ahmed
Mohamed Abdullah Al Ali 51%
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Vijay
Shaiji Sawrup 25%
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Shailes
Kumar Thakwani 24%
OPERATIONS
Activities: Engaged in the production of foodstuff,
specialising in snack food, crisps, sauces and condiments, as well as fruit
juices.
Import
Countries: France and the
Far East.
Brand Names: KENBEE
Operating Trend: Steady
Subject has a
workforce of 28 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
12,390,000 UAE Dh
14,200,000
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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National Bank
of Sharjah
Al Boorj Avenue
PO Box : 4
Sharjah
Tel : (971-6) 5547747
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Incorporated in
1996, Windsor Foodstuff Factory Ltd is well established in the local market and
enjoys a good reputation for the quality of its products.
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%)