MIRA INFORM REPORT

 

 

Report Date :

25.11.2008

 

 

IDENTIFICATION DETAILS

 

Name :

BOYTON INDUSTRIES

 

 

Registered Office :

The Fairmount, 7th Floor, Suite 708, Sheikh Zayed Road, PO Box 65886 & 49830, Dubai

 

 

Country :

United Arab Emirates

 

 

Date of Incorporation :

20.08.2003

 

 

Com. Reg. No.:

98036, Dubai

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Management Consultants and Commercial Brokers

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

US$ 150,000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

 

 

SUMMARY

 

Company Name                                      : BOYTON INDUSTRIES

Country of Origin                                    : Dubai, United Arab Emirates

Legal Form                                            : Sole Proprietorship

Registration Date                                   : 20th August 2003

Commercial Registration Number                        : 98036, Dubai

Trade Licence Number                            : 547928

Chamber Membership Number                : 80207

Invested Capital                                     : UAE Dh 100,000

Total Workforce                                     : 5

Activities                                               : Management consultants and commercial brokers

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

Recommended Credit Limit                     : US$ 150,000

 

 

 

COMPANY NAME

 

BOYTON INDUSTRIES

 

 

ADDRESS

 

Registered & Physical Address

 

Building             : The Fairmount, 7th Floor, Suite 708

Street               : Sheikh Zayed Road

PO Box             : 65886 & 49830

Town                 : Dubai

Country             : United Arab Emirates

Telephone         : (971-4) 3291694

Facsimile          : (971-4) 3291695 / 3326686

Email                : boyton@fimexco.uk

 

 

Premises

 

Subject operates from a small suite of offices that are rented and located in the Central Business Area of Dubai.

 

 

KEY PRINCIPALS

 

     Name                                                                       Nationality                     Position

 

·       Rashid Saeed Mohamed Rashid Al Hazmi                     Emirati                        Proprietor & General Manager

 

·       Mahboob Thatoor                                                             -                            Assistant General Manager

 

·       Ms Presila                                                                       -                            Administrative Assistant

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 20th August 2003

 

Legal Form                  : Sole Proprietorship

 

Commercial Reg. No.  : 98036, Dubai

 

Trade Licence No.       : 547928

 

Chamber Member No. : 80207

 

Invested Capital           : UAE Dh 100,000

 

Mr Rashid Saeed Mohamed Rashid Al Hazmi is the sole proprietor of the business.

 

 

OPERATIONS

 

Activities: Engaged as management consultants and commercial brokers.

 

Subject has a workforce of 5 employees.

 

 

FINANCIAL DATA

 

Companies registered in Dubai are not legally required to make their accounts public and no financial information was released by the company or submitted by outside sources.

 

 

BANKERS

 

·       Emirates Bank International Ltd

Beniyas Road

Deira

PO Box : 2923

Dubai

Tel : (971-4) 2256256 / 2256900

Fax : (971-4) 2268005 / 2267718

 

 

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 business is considered to be a fair trade risk and the above credit figure is within subject’s financial means.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.97

UK Pound

1

Rs.75.45

Euro

1

Rs.64.21

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions