MIRA INFORM REPORT
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Report Date : |
18.04.2011 |
IDENTIFICATION DETAILS
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Name : |
BUOY SAIL TRADING EST |
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Registered Office : |
Jamal |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
04.08.1997 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Ship
management services and the import and distribution of iron and steel scrap metals |
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 |
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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UAE |
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 : BUOY SAIL TRADING EST
Country of Origin :
Legal Form : Sole Proprietorship
Registration Date : 4th August 1997
Trade Licence Number : 219055
Chamber Membership Number : 40312
Invested Capital : UAE Dh 150,000
Total Workforce : 15
Activities :
Ship management services and
the import and distribution of iron and steel scrap metals
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
Person Interviewed : Lalita Murli, Financial Controller
COMPANY
NAME
BUOY SAIL TRADING EST
ADDRESS
Registered & Physical
Address
Street : Jamal
Area : Corniche
Buhira Area
PO Box :
25714
Town : Sharjah
Country :
Telephone : (971-6) 5539131
Facsimile : (971-6)
5599608
Email : buoy@emirates.net.ae
/ kuldip@buoy.ae
Premises
Subject operates from a small suite of offices that are rented and located
in the Central Business Area of Sharjah.
KEY
PRINCIPALS
Name Nationality Position
· Sanjiv Ratan Khanna Indian Proprietor
& General Manager
· Naveen Sunny - Assistant
General Manager
· Kuldip Sahaney - Commercial
Manager
· Lalita Murli - Financial
Controller
LEGAL
FORM & OWNERS
Date of
Establishment : 4th
August 1997
Legal Form : Sole
Proprietorship
Trade Licence No. : 219055 (Expires 04/08/2011)
Chamber Member No. : 40312
Invested Capital : UAE Dh 150,000
Mr Sanjiv Ratan
Khanna is the sole proprietor of the business. Mr Sanjiv Khanna is an Indian
national who operates in Sharjah under the local sponsorship of Mr Salim Bin
Salim Bin Khalis.
AFFILIATED
COMPANIES
· Surbh Steel FZE
Hamriyah Free Zone
Sharjah
Tel: (971-6)
5539131
Fax: (971-6)
5599608
· Buoy Chartering & Trading Limited Offshore
· Buoyancy Traders Private Limited
· Buoy Shipping Agency
OPERATIONS
Activities: Engaged in ship
management services and the import and distribution of iron and steel scrap
metals.
Buoy Group is a diversified group of companies extensively involved in
the field of trading of ferrous and
non-ferrous scrap, cash buying of scrap ships, ship chartering and ship
management
Import Countries:
Operating Trend: Steady
Subject has a workforce of 15 employees.
FINANCIAL
DATA
Financial highlights provided by local sources are given below:
Currency:
Year
Ending 31/12/09: Year Ending
31/12/10:
Total Sales UAE
Dh 11,000,000 UAE Dh
13,500,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Ms Lalita Murli, Financial Controller
BANKERS
·
Bank of
PO Box: 1671
Sharjah
Tel:
(971-6) 5684231
Fax:
(971-6) 5681025
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.44.52 |
|
|
1 |
Rs.72.72 |
|
Euro |
1 |
Rs.64.41 |
RATING EXPLANATIONS
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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 |
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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 |
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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-- |
NB |
New Business |
-- |
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.