MIRA
INFORM REPORT
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Report Date : |
09.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
WORLD METALS & ALLOYS FZC |
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Registered Office : |
Saif Zone,
Warehouse No. CO-3-140, P O Box 102036, Sharjah |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
26.06.2008 |
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Legal Form : |
Free Zone Company |
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Line of Business : |
Import and export of ferrous and non-ferrous metal |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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Maximum Credit Limit : |
US$ 20,000 |
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Status : |
New Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : WORLD METALS & ALLOYS FZC
Country of Origin : Sharjah, United Arab Emirates
Legal Form : Free Zone Company - FZCO
Registration Date : 26th June 2008
Trade Licence Number : 0387, Saif Zone
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Total Workforce : 2
Activities : Import and export of ferrous and non-ferrous metal
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 20,000
Person Interviewed : Arvindar Rangasami, Director
COMPANY NAME
WORLD METALS &
ALLOYS FZC
ADDRESS
Registered & Physical
Address
Location : Saif Zone, Warehouse No. CO-3-140
PO Box : 102036
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 5574719
Facsimile : (971-6) 5739270
Mobile : (971-50) 7260633
Email : gmalloys@eim.ae
Premises
Subject operates
from a small suite of offices that are rented and located in the Saif Zone,
Sharjah.
KEY PRINCIPALS
Name Position
·
Rimal
Kumar Mohan Lal Managing
Director
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Arvindar
Rangasami Director
LEGAL FORM & OWNERS
Date of Establishment : 26th
June 2008
Legal Form :
Free Zone Company - FZCO
Trade Licence No. : 0387, Saif Zone
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Name of Shareholder
(s)
·
Rimal
Kumar Mohan Lal
·
Arvindar
Rangasami
OPERATIONS
Activities: Engaged in the import
and export of ferrous and non-ferrous metal.
Import
Countries: India
Subject has a
workforce of 2 employees.
FINANCIAL DATA
Subject is a newly formed
business and as a result financial information is not currently available.
BANKERS
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Mashreq Bank
Plc
Foreign Trade Centre
Al Boorj Avenue
PO Box : 9271
Sharjah
Tel : (971-6) 5351366 / 5354873
Fax : (971-6) 5372903
PAYMENT HISTORY
No complaints regarding
subject’s payments have been reported.
This rating
serves as a reference to assess credit risk and for setting the amount of
credit to be extended. It is calculated using information such as Financial
data, Operational size, Payment record, Ownership background and market trend.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.22 |
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UK Pound |
1 |
Rs.73.03 |
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Euro |
1 |
Rs.63.14 |
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 |
Unfavourable & favourable factors carry similar weight in credit consideration.
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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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)