MIRA
INFORM REPORT
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Report Date : |
16.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
CONTINENTAL JET SERVICES |
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Registered Office : |
Saif Zone, Plot
No. A3-090, PO Box 9220, Sharjah |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
12.06.2004 |
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Legal Form : |
Free Zone Company - FZCO |
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Line of Business : |
Provision of aircraft handling and fuelling services, charter services, cargo and clearance services |
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$ 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : CONTINENTAL JET SERVICES
Country of Origin : Sharjah, United Arab Emirates
Legal Form : Free Zone Company - FZCO
Registration Date : 12th June 2004
Trade Licence Number : 020-40-2371
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Total Workforce : 25
Activities :
Provision of aircraft handling and fuelling services,
charter services, cargo and clearance services
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 150,000
COMPANY NAME
CONTINENTAL JET
SERVICES
ADDRESS
Registered &
Physical Address
Location : Saif Zone, Plot No. A3-090
PO Box : 9220
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 5573150 / 5573450
Facsimile : (971-6) 5573490
Email : ops@continentaljet.aero
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Saif
Zone, Sharjah.
KEY PRINCIPALS
Name Nationality Position
·
Anas
Safer Mardini Syrian Managing Director
·
Saleh
Shaki - Operations
Manager
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Muyaser
Al Saman - Logistics
& Cargo Manager
LEGAL FORM & OWNERS
Date of Establishment : 12th
June 2004
Legal Form :
Free Zone Company - FZCO
Trade Licence No. : 020-40-2371, Saif Zone (Expires 12/09/2009)
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Name of Shareholder
(s) Percentage
·
Anas
Safer Mardini 100%
OPERATIONS
Activities: Engaged in the
provision of aircraft handling and fuelling services, charter services, cargo
and clearance services.
Import
Countries: India
Subject has a
workforce of 25 employees.
FINANCIAL DATA
Companies
registered in Sharjah, 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
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Habib Bank AG
Zurich
PO Box : 300
Sharjah
Tel : (971-6) 5356116
Fax : (971-6) 5526473
Acc No. 020282031133336
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of R 400,000 - 30 days:
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.48.68 |
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UK Pound |
1 |
Rs.84.37 |
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Euro |
1 |
Rs.65.70 |
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%)