MIRA INFORM REPORT

 

 

Report Date :           

23.12.2011

 

IDENTIFICATION DETAILS

 

Name :

AL MAYA INTERNATIONAL LTD (FZC)

 

 

Registered Office :

Saif Zone, P O Box 8714, Sharjah

 

 

Country :

United Arab Emirates 

 

 

Date of Incorporation :

16.12.2002

 

 

Legal Form :

Free Zone Company

 

 

Line of Business :

Providers administration, finance and logistical support services

 

 

No. of Employees :

50 persons

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

US$ 400,000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

United Arab Emirates 

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

SUMMARY

 

Company Name                                     : AL MAYA INTERNATIONAL LTD (FZC)

Country of Origin                                    : Dubai, United Arab Emirates

Legal Form                                            : Free Zone Company - FZC

Registration Date                                   : 16th December 2002

Trade Licence Number                            : 01-04-01597

Issued Capital                                        : UAE Dh 18,375,000

Paid up Capital                                      : UAE Dh 18,375,000

Total Workforce                                     : 50

Activities                                               : Providers administration, finance and logistical support services.

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

Recommended Credit Limit                     : US$ 400,000

Person Interviewed                                 : Satayan Namayar, Legal Advisor

 

COMPANY NAME

 

AL MAYA INTERNATIONAL LTD (FZC)

 

 

Company ADDRESS

 

Registered Address

Location            : Saif Zone

PO Box             : 8714

Town                 : Sharjah

Country             : United Arab Emirates

 

Physical Address

Street               : Airport Road

Area                 : Al Garhood Area

PO Box             : 8476

Town                 : Dubai

Country             : United Arab Emirates

Telephone         : (971-4) 2822555 / 2821555

Facsimile          : (971-4) 2826660

Email                : info@almayagroup.com

 

Premises

Subject operates from a medium sized suite of offices that are rented and located in the Suburban Business Area of Dubai.

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       L K Pagarani                                                                         Managing Director

 

·       Deepak L Pagarani                                                                            Director

 

·       Kamal Vachani                                                                                 Director

 

·       Piya Bahirwani                                                                                  Director

 

·       Satayan Namayar                                                                             Legal Advisor

 

·       Ganshan Lahroy                                                                                Finance Manager

 

·       Ashok Parsawani                                                                              Commercial Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 16th December 2002

 

Legal Form                  : Free Zone Company - FZC

 

Trade Licence No.       : 01-04-01597

 

Issued Capital              : UAE Dh 18,375,000

 

Paid up Capital            : UAE Dh 18,375,000

 

Name of Shareholder (s)

 

·       L K Pagarani

·       Deepak L Pagarani

·       Kamal Vachani

·       Piya Bahirwani

·       Al Maya Investment International

British Virgin Islands

 

 

AFFILIATED COMPANIES

 

Subject is a member of the Al Maya Group of Companies, which includes the following concerns:

 

·       UPF International LLC                                    United Arab Emirates

·       Al Maya Supermarkets LLC                           United Arab Emirates

·       Al Maya (UK) Ltd                                          United Kingdom

·       Basmati Rice (UK) Limited                             United Kingdom

·       Al Maya International LLC                              Oman

·       Al Jadeed Trading Co WLL                             Qatar

·       Al Jadeed Trading Stores                               Bahrain

·       Adel Yacob Al Ghanim General Trading           Kuwait

·       Al Maya International WLL                             Qatar

·       AMG Retail Sp Zoo                                       Poland

·       Maya Global Pvt Ltd                                      India

 

 

OPERATIONS

 

Activities: Subject acts as a parent company for the Al Maya Group offering centralised administration, finance and logistical support for the individual companies within the group.

 

Import Countries: Asia, United States of America and Europe.

 

Subject has a workforce of 50 employees.

 

FINANCIAL DATA

 

Companies registered in Dubai, 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

 

·       Mashreq Bank Plc

Deira Branch

PO Box: 1250

Dubai

Tel: (971-4) 2229131 / 2221134

Fax: (971-4) 2233784

 

·       HSBC Bank Middle East

Deira Souk Branch

     PO Box: 66

     Dubai

     Tel: (971-4) 2535000

 

·       The Standard Chartered Bank

Khalid Bin Waleed Street

Mankhool Branch

PO Box: 999

Dubai

Tel: (971-4) 2520455

Acc No. 01276240401

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

Date of transaction                              March 2008

Credit amount                                        150,000

Amount overdue                         0

Payment terms                                      60 days

Payment Method                                   Letters of Credit

Paying record                                        No Complaints

Currency                                               US Dollars

 

 

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.52.78

UK Pound

1

Rs.82.73

Euro

1

Rs.68.88

 

 

RATING EXPLANATIONS

 

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

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

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

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

----

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.