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Report Date : |
06.07.2012 |
IDENTIFICATION DETAILS
|
Correct Name : |
BUOY SAIL TRADING EST |
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|
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Registered Office : |
Jamal |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
04.08.1997 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Ship
Management Services and the Import and Distribution of Iron and Steel Scrap
Metals. |
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No. of Employees : |
15 |
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 |
|
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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
|
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company Name :
BUOY SAIL TRADING EST
Country of Origin :
Legal Form :
Sole Proprietorship
Registration Date :
4th August 1997
Trade Licence Number :
219055
Chamber Membership Number :
40312
Invested Capital :
UAE Dh 150,000
Total Workforce :
15
Activities :
Ship management services and
the import and distribution of iron and steel scrap metals.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Lalita Murli, Financial Controller
BUOY SAIL TRADING EST
Registered &
Physical Address
Street : Jamal
Area : Corniche
Buhira Area
PO Box : 25714
Town : Sharjah
Country :
Telephone : (971-6) 5539131
Facsimile : (971-6)
5599608
Email : buoy@emirates.net.ae / kuldip@buoy.ae
Premises
Subject operates from a small suite of offices that are rented and located
in the Central Business Area of Sharjah.
Name Nationality Position
· Sanjiv Ratan Khanna Indian Proprietor
& General Manager
· Naveen Sunny - Assistant
General Manager
· Kuldip
Sahaney - Commercial
Manager
· Lalita Murli - Financial
Controller
Date of
Establishment: 4th August 1997
Legal Form : Sole
Proprietorship
Trade Licence No. : 219055
Chamber Member No.: 40312
Invested Capital : UAE Dh 150,000
Mr Sanjiv Ratan Khanna
is the sole proprietor of the business. Mr Sanjiv Khanna is an Indian
national who operates in Sharjah under the local sponsorship of Mr Salim Bin
Salim Bin Khalis.
· Surbh
Steel FZE
Hamriyah
Free Zone
Sharjah
Tel:
(971-6) 5539131
Fax:
(971-6) 5599608
· Buoy Chartering & Trading Limited Offshore
· Buoyancy Traders Private Limited
· Buoy Shipping Agency
Activities: Engaged
in ship management services and
the import and distribution of iron and steel scrap metals.
Buoy Group is a diversified group of companies extensively involved in the field of trading of ferrous and
non-ferrous scrap, cash buying of scrap ships, ship chartering and ship management
Import Countries:
Operating Trend: Steady
Subject has a workforce of 15 employees.
Financial highlights provided by local sources are given below:
Currency:
Year
Ending 31/12/09: Year
Ending 31/12/10:
Total Sales UAE
Dh 11,000,000 UAE Dh
13,500,000
Local sources consider subject’s financial condition to be Fair.
The above figures were provided by Ms Lalita Murli, Financial Controller
·
Bank of
PO Box: 1671
Sharjah
Tel:
(971-6) 5684231
Fax:
(971-6) 5681025
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 business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.03 |
|
|
1 |
Rs.85.93 |
|
Euro |
1 |
Rs.68.97 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.