MIRA
INFORM REPORT
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Report Date : |
04.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
SEVILLE PRODUCTS LLC |
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Registered Office : |
Industrial Area No 1, PO Box 4115, Sharjah |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
10.09.1997 |
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Com. Reg. No.: |
30685 |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Processing and Marketing of General Foodstuff Products |
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 : SEVILLE PRODUCTS LLC
Country of Origin : Sharjah, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 10th September 1997
Commercial Registration Number : 30685
Trade Licence Number : 3866
Chamber Membership Number : 40566
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 50
Activities : Processing and marketing of general foodstuff products
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 100,000
COMPANY NAME
SEVILLE
PRODUCTS LLC
ADDRESS
Registered & Physical Address
Location : Industrial Area No 1
PO Box : 4115
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 5334969
Facsimile : (971-6) 5333180
Premises
Subject operates
from a medium sized suite of offices and a factory that are rented and located
in the Industrial Area of Sharjah.
KEY PRINCIPALS
Name Nationality Position
·
Ali
Nasser Al Faradan Emirati Managing Director
LEGAL FORM & OWNERS
Date of Establishment : 10th
September 1997
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 30685
Trade Licence No. : 3866 (Expires 07/09/2009)
Chamber Member No. : 40566
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s)
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Ali
Nasser Al Faradan
·
Delmon
Ltd
United Kingdom
OPERATIONS
Activities: Engaged in the processing and marketing of
general foodstuff products.
Import
Countries: United Kingdom
and Asia
Subject has a
workforce of 50 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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The Standard
Chartered Bank
Al Boorj Avenue
PO Box : 5
Sharjah
Tel : (971-6) 5357788
Fax : (971-6) 5335500
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.44.37 |
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UK Pound |
1 |
Rs.78.09 |
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Euro |
1 |
Rs.63.41 |
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%)