MIRA
INFORM REPORT
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Report Date : |
10.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
MANSAN INTERNATIONAL FZE |
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Registered Office : |
Fujairah
Free Zone, Fujairah |
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Country : |
United Arab Emirates |
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Year of Establishment : |
2002 |
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Legal Form : |
Free Zone Establishment - FZE |
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Line of Business : |
Import and export of Loose Diamonds |
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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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : MANSAN INTERNATIONAL FZE
Country of Origin : Dubai, United Arab Emirates
Legal Form : Free Zone Establishment - FZE
Registration Date : 2002
Trade Licence Number : 12278, Fujairah Free Zone
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Total Workforce : 3
Activities : Import and export of loose diamonds
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : Rushabh B Dalal, Managing Director
COMPANY NAME
MANSAN
INTERNATIONAL FZE
ADDRESS
Registered Address
Location : Fujairah
Free Zone
Town : Fujairah
Country : United Arab Emirates
Physical Address
Building : Al
Abbas Building, 2nd Floor, Suite No. 218
Area : Gold
Souq, Al Ras Area
PO Box : 42102
Town : Dubai
Phone (971-4) 2354998
Facsimile : (971-4) 2354998
Mobile : (971-50) 7757854
Email : rushab.shah218@gmail.com
Premises
Subject operates from
a small suite of offices and a showroom that are rented and located in the
Central Business Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
·
Rushabh
B Dalal Indian Managing Director
LEGAL FORM & OWNERS
Date of Establishment : 2002
History : Subject was originally established in 2002
and owned by Sujal Shah. However in late 2006 Sujal Shah sold the business to
the current owner, Mr Rushabh B Dalal
Legal Form :
Free Zone Establishment -
FZE
Trade Licence No. : 12278, Fujairah Free Zone
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Name of Shareholder
(s) Percentage
·
Rushabh
B Dalal 100%
OPERATIONS
Activities: Engaged in the import and export of loose
diamonds.
Import Countries: Belgium
Subject has a
workforce of 3 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
PO Box : 1709
Deira
Dubai
Tel : (971-4) 2227121 / 2253222
Fax
: (971-4) 2220943 / 2254565
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in
2002, subject is involved in the import and export of loose diamonds.
Local sources
report that the subject’s operating history is clear with payment obligations
met in a generally timely manner. The financial position is satisfactory and the
business is deemed 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%)