MIRA INFORM REPORT
|
Report Date : |
21.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
AST ENTERPRISES INC |
|
|
|
|
Registered Office : |
Palladium Tower,
Suite No. 909, Plot No. C3, Jumeirah Lakes Towers, Sheikh Zayed Road, P O Box
309049, Dubai |
|
|
|
|
Country : |
United Arab Emirates |
|
|
|
|
Date of Incorporation : |
27.08.2009 |
|
|
|
|
Legal Form : |
Branch of a Foreign Registered Corporation |
|
|
|
|
Line of Business : |
Distributors of agricultural products and commodities |
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$ 150,000 |
|
|
|
|
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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
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 : AST ENTERPRISES INC
Country of Origin : British Virgin Islands
Legal Form : Branch of a Foreign Registered Corporation
Registration Date : 27th August 2009
Trade Licence Number : 31236
Chamber Membership Number : 181923
Total Workforce : 7
Activities : Distributors of agricultural products and commodities.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 150,000
Person Interviewed : Mavel Alaka, Administration Executive
COMPANY NAME
AST ENTERPRISES INC
company ADDRESS
Registered &
Physical Address
Building : Palladium Tower, Suite No. 909,
Plot No. C3, Jumeirah Lakes Towers
Street : Sheikh Zayed Road
PO Box : 309049
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 4495300
Facsimile : (971-4) 4495338
Mobile : (971-50) 4550621
Email : astent@eim.ae
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Dubai.
KEY PRINCIPALS
Name Position
·
Saravjeet
Singh Talwar Managing
Director
·
Alok
Bharagava Director
·
Anand
Rudolph Pinto Director
·
Mavel
Alaka Administration
Executive
LEGAL FORM & OWNERS
Date of Establishment : 27th
August 2009
Legal Form :
Subject is the United Arab
Emirates registered branch of AST Enterprises BVI, a Limited Liability Company
incorporated in the British Virgin Islands.
AST Enterprises Inc in the
United Arab Emirates, operates as a Branch of a Foreign
Registered Corporation.
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 British Virgin Islands.
Trade Licence No. : 31236
(Expires 14/04/2012)
Chamber Member No. : 181923
OPERATIONS
Activities: Engaged in the import and distribution of
agricultural products and commodities.
Import
Countries: Europe and the
Far East.
Subject has a
workforce of 7 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
·
Emirates
Bank International Ltd
Deira
PO Box: 2923
Dubai
Tel: (971-4) 3160316
Fax: (971-4) 2264302
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.48.22 |
|
UK Pound |
1 |
Rs.75.63 |
|
Euro |
1 |
Rs.65.65 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.