MIRA INFORM
REPORT
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Report Date : |
04.04.2012 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Dubai Investment Park,
Sheikh
Zayed Road, Jebel Ali Free
Zone, P O Box 60495, Dubai |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
06.05.1997 |
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Com. Reg. No.: |
48915, |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacturers of bolts, washers, nuts, screws and nails |
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No. of Employees
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25 |
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 – September 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 |
Company Name :
Country of Origin :
Legal Form : Limited Liability Company - LLC
Registration Date : 6th May 1997
Commercial Registration Number : 48915,
Trade Licence Number : 301340
Chamber Membership Number : 43680
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 25
Activities : Manufacturers of bolts, washers, nuts, screws and nails.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
Registered & Physical
Address
Building :
Street :
Area : Jebel Ali Free Zone
PO Box : 60495
Town :
Country :
Telephone : (971-4) 8855861 / 8855862
Facsimile : (971-4) 8855860
Email : asiabolt@emirates.net.ae / marketing@asia-bolt.com
Premises
Subject operates
from a medium sized suite of offices and a factory that are rented and located
in the Jebel Ali Free Zone Area of Dubai.
Name Nationality Position
·
Mohamed Iftikhar Butt Mohamed Saleem Butt Pakistani Managing Director
·
Madeha Abdul Karim Neamat Emirati Director
Date of Establishment : 6th
May 1997
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 48915,
Trade Licence No. : 301340 (Expires
05/05/2012)
Chamber Member No. : 43680
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder
(s) Percentage
·
Madeha Abdul Karim Neamat 51%
·
Mohamed Iftikhar Butt Mohamed Saleem Butt 49%
·
Al
Khamisain Hardware
Dammam
Tel: (966-3) 8175750 / 8175868
Fax: (966-3) 817575
·
Fastener
World International LLC
PO Box: 60495
Tel: (971-4) 8855862 / 8855861
Fax: (971-4) 8855860
Activities: Engaged in the manufacture of bolts, washers,
nuts, screws and nails.
Import
Countries: Europe and the
Operating Trend: Steady
Subject has a
workforce of 25 employees.
Financial
highlights provided by local sources are given below:
Currency:
Year
Ending 31/12/10: Year
Ending 31/12/11:
Total Sales UAE Dh
12,750,000 UAE Dh
13,280,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Standard
Chartered Bank
PO Box: 999
Tel: (971-4) 2520455
No complaints
regarding subject’s payments have been reported.
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.50.56 |
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|
1 |
Rs.81.05 |
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Euro |
1 |
Rs.67.49 |
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.