MIRA INFORM REPORT
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Report Date : |
30.05.2012 |
IDENTIFICATION DETAILS
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Correct Name : |
BUOY SAIL TRADING EST |
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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
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15 |
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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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) |
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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 : 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.55.58 |
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|
1 |
Rs.87.14 |
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Euro |
1 |
Rs.69.73 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.