MIRA INFORM REPORT
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Report Date : |
19.09.2011 |
IDENTIFICATION DETAILS
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Name : |
KENWOOD DELONGHI |
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Registered Office : |
Office No. 1201,
LOB 18, Jebel Ali Free Zone, P O Box 263338, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
19.01.20011 |
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Legal Form : |
Branch of a Foreign Registered Corporation |
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Line of Business : |
Distributors of electrical household appliances |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 15,000 |
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Status : |
New Business |
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Payment
Behaviour : |
---- |
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Litigation : |
---- |
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 |
SUMMARY
Company Name : KENWOOD DELONGHI
Country of Origin : United Kingdom
Legal Form : Branch of a Foreign Registered Corporation
Registration Date : 19th January 2011
Trade Licence Number : 125687
Total Workforce : 6
Activities : Distributors of electrical household appliances.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 15,000
COMPANY NAME
KENWOOD DELONGHI
company ADDRESS
Registered &
Physical Address
Building : Office No. 1201, LOB 18
Area : Jebel Ali Free Zone
PO Box : 263338
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 8841184
Facsimile : (971-4) 8841184
Mobile : (971-50) 6401201
Email : maria.gracias@delonghikenwood.ae
Premises
Subject operates from
a small suite of offices that are rented and located in the Jebel Ali Free Zone
Area of Dubai.
KEY PRINCIPALS
Name Position
·
Mark
Jonathan General
Manager
·
Maria
Gracias Office
Manager
LEGAL FORM & OWNERS
Date of Establishment : 19th
January 2011
Legal Form :
Subject is the United Arab
Emirates registered branch of Kenwood Delonghi Ltd, a Limited Liability
Company incorporated in the United Kingdom.
Kenwood Delonghi in the United
Arab Emirates, operates as a Branch of a Foreign
Registered Corporation
with its registered office located at the following address:
Kenwood Delonghi Ltd
New Lane
Havant
Hampshire
PO9 2NH
United Kingdom
Tel: (44-239) 2476000
A Branch of a Foreign
Registered Corporation is not a legal entity in its own
right. Responsibility for
payments lays in the hands of the company where it is
originally registered.
Under these circumstances, we
strongly advise that any international trade
credit should only be written under
the name of the main company where the
subject holds its registered
office, in this case the United Kingdom.
Trade Licence No. : 125687
(Expires 18/01/2012)
OPERATIONS
Activities: Engaged in the import and distribution of
electrical household appliances.
Import
Countries: Europe and the
Far East.
Brand Names: KENWOOD and DELONGHI
Subject has a
workforce of 6 employees.
FINANCIAL DATA
Subject is a newly
formed business and as a result financial information is not currently
available.
BANKERS
·
HSBC
Bank Middle East
Deira Souk Branch
PO Box: 66
Dubai
Tel: (971-4) 2535000
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Please note that
the correct name for the company is “Kenwood Delonghi”, there is no company
listed under the name “Kennood Meia”.
In view of
subject’s infancy, extensive payment and financial are not available, therefore
dealings are recommended to be on secured terms, and a close monitoring of
subject’s business development is advisable.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.47.79 |
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UK Pound |
1 |
Rs.75.06 |
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Euro |
1 |
Rs.65.35 |
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.