MIRA INFORM
REPORT
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Report Date : |
26.08.2011 |
IDENTIFICATION DETAILS
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Name : |
STARFISH TRADING LLC |
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Registered Office : |
Mushiref
Commercial Area, P O Box 12626, Ajman |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
01.02.2005 |
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Com. Reg. No.: |
50326, Ajman |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Distributors of frozen seafood 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$ 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 – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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United Arab Emirates |
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 |
Bottom of Form
SUMMARY
Company Name : STARFISH TRADING LLC
Country of Origin : Ajman, United Arab Emirates
Legal Form : Limited Liability Company – LLC
Start Date : 1st February 2005
Registration Date : 23rd March 2010
Commercial Registration Number : 50326, Ajman
Trade Licence Number : 57153
Membership Number : 57716
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Total Workforce : 6
Activities : Distributors of frozen seafood products.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 150,000
COMPANY NAME
STARFISH TRADING LLC
company ADDRESS
Registered &
Physical Address
Location : Mushiref Commercial Area
PO Box : 12626
Town : Ajman
Country : United Arab Emirates
Telephone : (971-6) 7428738
Facsimile : (971-6) 7428735
Mobile : (971-50) 6344734 / 2925552
Email : info@starfishfze.com
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Commercial Business Area of Ajman.
KEY PRINCIPALS
Name Nationality Position
·
Celestine Augustine Manol Indian Managing Director
·
Arul Augustine Manol Indian Director
·
Ibrahim Samra Ali Mohamed Shahi Emirati Director
LEGAL FORM & OWNERS
Date of Establishment : 1st
February 2005
History : Subject began in 2005 as a Free Zone
Establishment, however it re-registered as a Limited Liability Company on 23rd
March 2010.
Legal Form :
Limited
Liability Company – LLC
Commercial
Reg. No. : 50326, Ajman
Trade Licence No. : 57153
(Expires 21/03/2012)
Membership
No. : 57716
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Name of
Shareholder (s)
·
Celestine Augustine Manol
·
Arul Augustine Manol
·
Ibrahim Samra Ali Mohamed Shahi
OPERATIONS
Activities: Engaged in the import,
distribution and export of frozen seafood products.
Import
Countries: India
Subject has a
workforce of 6 employees.
FINANCIAL DATA
Companies
registered in Ajman, 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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HSBC
Bank Middle East
Al Arooba Street
PO Box: 25
Sharjah
Tel: (971-6) 5537222
Fax: (971-6) 5537880
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 and the above credit figure is
within subject’s financial means.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.46.13 |
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UK Pound |
1 |
Rs.75.52 |
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Euro |
1 |
Rs.66.53 |
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 |
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 |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.