MIRA INFORM
REPORT
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Report Date : |
13.04.2011 |
IDENTIFICATION DETAILS
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Name : |
MANSAN
INTERNATIONAL FZE |
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Registered Office : |
Fujairah
Free Zone, |
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Country : |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
12.09.2001 |
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Legal Form : |
Free Zone Establishment |
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Line of Business : |
Import and Export of Loose Diamonds |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment
Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2010
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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|
a2 |
a2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
SUMMARY
Company Name : MANSAN INTERNATIONAL FZE
Country of Origin :
Legal Form : Free Zone Establishment - FZE
Registration Date : 12th September 2001
Trade Licence Number :
12278,
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Total Workforce : 1
Activities : Import and export of loose diamonds
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Rushabh Bhutendra Dalal, Managing Director
COMPANY
NAME
MANSAN INTERNATIONAL FZE
company
ADDRESS
Registered Address
Location :
Town :
Country : United Arab Emirates
Telephone : (971-9) 2281104
Facsimile : (971-9) 2281105
Physical Address
Building : Al
Street :
Area : Gold
Souq, Al Ras Area, Deira
PO Box : 42102
Town :
Country :
Telephone : (971-4) 2354998
Facsimile : (971-4) 2354998
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 Bhutendra Dalal Indian Managing
Director
LEGAL
FORM & OWNERS
Date of Establishment : 12th
September 2001
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,
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 and gold jewellery.
Import
Countries:
Operating Trend: Steady
Subject has a
workforce of 1 employee.
FINANCIAL
DATA
Financial
highlights provided by local sources are given below:
Currency:
Year
Ending 31/12/08: Year Ending
31/12/09:
Total Sales UAE Dh 1,180,000 UAE Dh 1,500,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Rushabh Bhutendra Dalal, Managing
Director.
BANKERS
·
Commercial
Bank of
Deira
PO Box: 1709
Tel: (971-4) 2227121 / 2253222
Fax:
(971-4) 2220943 / 2254565
PAYMENT
HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL
COMMENTS
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.22 |
|
|
1 |
Rs.72.26 |
|
Euro |
1 |
Rs.63.90 |
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.