MIRA
INFORM REPORT
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Report Date : |
07.03.2011 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Industrial Area |
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Country : |
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Date of Incorporation : |
16.05.1996 |
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Com. Reg. No.: |
28223, Sharjah |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Manufacture of car radiators |
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$ 400,000 |
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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
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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 :
Country of Origin :
Legal Form : Sole Proprietorship
Registration Date : 16th May 1996
Commercial Registration Number : 28223, Sharjah
Trade Licence Number : 3763
Chamber Membership Number : 37781
Invested Capital : UAE Dh 3,000,000
Total Workforce : 300
Activities : Manufacture of car radiators
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 400,000
COMPANY NAME
ADDRESS
Registered & Physical Address
Location : Industrial
Area No. 10
PO Box : 44
Town : Sharjah
Country :
Telephone : (971-6) 5341926
/ 5341826
Facsimile : (971-6)
5342159 / 5681116
Email : sabahrad@emirates.net.ae
Premises
Subject operates from a large suite of offices and a factory that are
owned and located in the Industrial Area of Sharjah.
KEY PRINCIPALS
Name Position
·
Mohamed Ramdan Ramzan Proprietor
·
Joseph Kuttumelo General
Manager
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P V Suresh Assistant
General Manager
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N Krishnan Finance
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 16th
May 1996
Legal Form : Sole
Proprietorship
Commercial Reg.
No. : 28223, Sharjah
Trade Licence No. : 3763 (Expires 13/05/2011)
Chamber Member No. : 37781
Invested Capital : UAE Dh 3,000,000
Mr Mohamed Ramdan Ramzan is the sole proprietor of the business.
AFFILIATED COMPANIES
Subject is a member of the Sabah Group of
Companies, which includes the following concerns:
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OPERATIONS
Activities: Engaged in the manufacture of radiators specialising in automotive
radiators for a number of leading
brands such as Daewoo, Honda, Mazda, Mercedes Benz, Mitsubishi, Nissan,
Peugeot, and
Subject also manufactures industrial radiators, air conditioning
equipment and systems, and heat
exchangers.
The company provides refurbishment and
re-coring of radiators as well as general repair and servicing.
Subject is ISO 9001 accredited.
Import Countries:
Export Countries:
Subject has a workforce of approximately 300 employees.
FINANCIAL DATA
Companies registered in Sharjah 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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Habib Bank Ltd
PO Box: 300
Sharjah
Tel: (971-6)
5356116
Fax: (971-6)
5526473
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Union National Bank
Main Branch
Sharjah
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
Date of
transaction August
2004
Credit amount 39,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No Complaints
Currency
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.44.99 |
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1 |
Rs.73.24 |
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Euro |
1 |
Rs.62.80 |
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.