MIRA
INFORM REPORT
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Report Date : |
07.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
AL BADANI FZE |
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Registered Office : |
Ajman Free Zone,
PO Box 117680, Ajman |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
March 2008 |
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Com. Reg. No.: |
1686, Ajman Free Zone |
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Legal Form : |
Free Zone Establishment - FZE |
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Line of Business : |
Traders of Diamonds and Precious Metals and Stones |
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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Status : |
New Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : AL BADANI FZE
Country of Origin : Ajman, United Arab Emirates
Legal Form : Free Zone Establishment - FZE
Registration Date : March 2008
Trade Licence Number : 1686, Ajman Free Zone
Issued Capital : UAE Dh 100,000
Paid up Capital : UAE Dh 100,000
Total Workforce : 2
Activities : Traders of diamonds and precious metals and stones
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
AL BADANI FZE
ADDRESS
Registered & Physical Address
Location : Ajman Free Zone
PO Box : 117680
Town : Ajman
Country : United Arab Emirates
Facsimile : (971-4) 2268230
Mobile : (971-50) 9204939
Premises
Subject operates
from a small suite of offices that are rented and located in the Ajman Free
Zone.
KEY PRINCIPALS
Name Position
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Alivai
Valyaveeptil Managing
Director
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G.
Vinit Commercial
Manager
LEGAL FORM & OWNERS
Date of Establishment : March 2008
Legal Form :
Free Zone Establishment -
FZE
Trade Licence No. : 1686, Ajman Free Zone
Issued Capital : UAE Dh 100,000
Paid up Capital : UAE Dh 100,000
Name of Shareholder (s) Percentage
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Alivai
Valyaveeptil 100%
OPERATIONS
Activities: Engaged as traders of diamonds and precious
metals and stones.
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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Mashreq Bank
Plc
PO Box : 11
Ajman
Tel : (971-6) 7422440
Fax : (971-6) 7426690
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Investigations
undertaken in Ajman did not reveal any sign of payment defaults or delays
during initial trading stages, and subject is believed to meet its payment
obligations in a timely manner, nevertheless, and in view of the company’s
infancy and the lack of a more consistent payment and financial record, a
measure of caution is advisable and a close monitoring of subject’s business
development is recommended.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.47.46 |
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UK Pound |
1 |
Rs.83.37 |
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Euro |
1 |
Rs.64.46 |
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%)