MIRA
INFORM REPORT
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Report Date : |
07.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
CITRUSS TELEVISION FZ LLC |
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Registered Office : |
Showtime
Building, Dubai Media City, PO Box 500605,
Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
06.01. 2005 |
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Legal Form : |
Free Zone Limited Liability Company – FZ LLC |
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Line of Business : |
Broadcasting of a Satellite Television Channel |
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$ 100,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : CITRUSS TELEVISION FZ LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Free Zone Limited Liability Company – FZ LLC
Registration Date : 6th January 2005
Trade Licence Number : 31347, Dubai Media City
Issued Capital : UAE Dh 100,000
Paid up Capital : UAE Dh 100,000
Total Workforce : 20
Activities : Broadcasting of a satellite television channel
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 100,000
COMPANY NAME
CITRUSS TELEVISION
FZ LLC
ADDRESS
Registered & Physical Address
Building : Showtime Building
Area : Dubai Media City
PO Box : 500605
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3677309 / 3678260 / 3677313
Facsimile : (971-4) 3915598
Mobile : (971-50)
Email : info@citruss.com
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Dubai
Media City.
KEY PRINCIPALS
Name Position
·
Micheal
Trueschler Managing
Director
LEGAL FORM & OWNERS
Date of Establishment : 6th
January 2005
Legal Form :
Free Zone Limited Liability
Company – FZ LLC
Trade Licence No. : 31347, Dubai Media City
Issued Capital : UAE Dh 100,000
Paid up Capital : UAE Dh 100,000
Name of Shareholder (s)
·
Micheal
Trueschler
OPERATIONS
Activities: Engaged in the broadcasting of a satellite
television channel.
Citruss TV is a new free-to-air luxury and lifestyle channel
broadcast to more than 70 million viewers in the Middle East. Citruss showcases
the best in Real Estate, Yachts, Interior Design, Cars and Horses, and brings
leading beauty products direct to Gulf shoppers.
Subject has a
workforce of 20 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
·
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
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.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.47.76 |
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UK Pound |
1 |
Rs.74.87 |
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Euro |
1 |
Rs.60.81 |
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%)