MIRA
INFORM REPORT
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Report Date : |
10.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
IMR GENERAL TRADING FZE |
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Registered Office : |
Fujairah
Free Zone, Office No. B9, PO
Box 7359, Fujairah |
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Country : |
United Arab Emirates |
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Financials (as on) : |
31.12.2007 |
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Year of Establishment : |
2006 |
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Legal Form : |
Free Zone Establishment - FZE |
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Line of Business : |
Import and export of scrap metal and steel |
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$ 100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : IMR GENERAL TRADING FZE
Country of Origin : Fujairah, United Arab Emirates
Legal Form : Free Zone Establishment - FZE
Registration Date : 2006
Trade Licence Number : 1839, Fujairah Free Zone
Issued Capital : UAE Dh 100,000
Paid up Capital : UAE Dh 100,000
Total Workforce : 3
Activities : Import and export of scrap metal and steel
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 100,000
Person Interviewed : Ramratan Gati, Sales Manager
COMPANY NAME
IMR GENERAL TRADING
FZE
ADDRESS
Registered &
Physical Address
Location : Fujairah
Free Zone, Office No. B9
PO Box : 7359
Town : Fujairah
Country : United Arab Emirates
Telephone : (971-9) 2282169
Facsimile : (971-9) 2282170
Mobile : (971-50) 4333853
Email : ramratangati@yahoo.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Fujairah Free Zone.
KEY PRINCIPALS
Name Position
·
Biyoosh
Goyal Managing
Director
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Ramratan
Gati Sales
Manager
LEGAL FORM & OWNERS
Date of Establishment : 2006
Legal Form :
Free Zone Establishment -
FZE
Trade Licence No. : 1839, Fujairah Free Zone
Issued Capital : UAE Dh 100,000
Paid up Capital : UAE Dh 100,000
Name of Shareholder
(s) Percentage
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Biyoosh
Goyal 100%
OPERATIONS
Activities: Engaged in the import and export of scrap
metal and steel.
Import
Countries: India
Subject has a
workforce of 3 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency: United
Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/07:
Total Sales UAE
Dh 10,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures were confirmed by Ramratan Gati, Sales
Manager
BANKERS
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National Bank
of Fujairah
PO Box 887
Fujairah
Tel : (971-9) 2224518 / 2224513
Fax : (971-9) 2224516 / 2229470
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.48.72 |
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UK Pound |
1 |
Rs.82.17 |
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Euro |
1 |
Rs.65.90 |
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%)