MIRA
INFORM REPORT
|
Report Date : |
08.10.2008 |
IDENTIFICATION
DETAILS
|
Name : |
MACSTEEL INTERNATIONAL FZCO |
|
|
|
|
Registered Office : |
Sheikh Zayed
Road, Jebel Ali Free Zone, 410 JAFZA-17, PO Box 61030, Dubai |
|
|
|
|
Country : |
United Arab Emirates |
|
|
|
|
Date of Incorporation : |
24.01. 2005 |
|
|
|
|
Legal Form : |
Free Zone Company - FZCO |
|
|
|
|
Line of Business : |
Import and Distribution of Reinforcement Steel Bars, Basic
Steel Products, Non Ferrous Metal Products, and metal Wire |
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 : MACSTEEL INTERNATIONAL FZCO
Country of Origin : Dubai, United Arab Emirates
Legal Form : Free Zone Company - FZCO
Registration Date : 24th January 2005
Trade Licence Number : 5459
Chamber Membership Number : 92531
Issued Capital : UAE Dh 800,000
Paid up Capital : UAE Dh 800,000
Total Workforce : 30
Activities : Import and distribution of reinforcement steel bars, basic steel products, non ferrous metal products, and metal wire
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 150,000
COMPANY NAME
MACSTEEL
INTERNATIONAL FZCO
ADDRESS
Registered & Physical Address
Street : Sheikh Zayed Road
Area : Jebel Ali Free Zone, 410
JAFZA-17
PO Box : 61030
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 8817149
Facsimile : (971-4) 8817148
Email : mocsteel.dubai@mifzco.ae
Premises
Subject operates
from a medium sized suite of offices and a warehouse that are rented and located
in the Jebel Ali Free Zone, Dubai.
KEY PRINCIPALS
Name Position
·
Stuart Lever Managing
Director
LEGAL FORM & OWNERS
Date of Establishment : 24th
January 2005
Legal Form :
Free Zone Company - FZCO
Trade Licence No. : 5459 (Expires
23/01/2009)
Chamber Member No. : 92531
Issued Capital : UAE Dh 800,000
Paid up Capital : UAE Dh 800,000
Name of Shareholder (s) Percentage
·
M I S Trading
AG 80%
Switzerland
·
MUR Shipping
AG 20%
Switzerland
OPERATIONS
Activities: Engaged in the import and distribution of
reinforcement steel bars, basic steel products, non ferrous metal products, and
metal wire.
Import
Countries: Europe and Asia
Subject has a
workforce of 30 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
·
The Standard
Chartered Bank
Jebel Ali Free Zone
PO Box : 999
Dubai
Tel : (971-4) 8856600
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.72 |
|
UK Pound |
1 |
Rs.82.17 |
|
Euro |
1 |
Rs.65.90 |
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%)