MIRA
INFORM REPORT
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Report Date : |
05.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
A N M METALS LLC |
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Registered Office : |
Al Nakheel
Building, 1st Floor, Office No 112, Za’abeel Street, Al Karama,
PO Box 112756, Dubai |
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Country : |
United Arab Emirates |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
29.10. 2003 |
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Com. Reg. No.: |
64684, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Import and Distribution of Ferrous and Non-Ferrous Metals |
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$ 175,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : A N M METALS LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 29th October 2003
Commercial Registration Number : 64684, Dubai
Trade Licence Number : 550394
Chamber Membership Number : 81930
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 16
Activities : Import and distribution of ferrous and non-ferrous metals
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 175,000
COMPANY NAME
A N M METALS LLC
ADDRESS
Registered & Physical Address
Building : Al Nakheel Building, 1st Floor, Office No
112
Street : Za’abeel Street
Area : Al Karama
PO Box : 112756
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3358831
Facsimile : (971-4) 3358832
Email : purchase@anmmetals.ae
Premises
Subject operates from
a small suite of offices that are rented and located in the Central Business
Area of Dubai.
Branch Office (s)
Location Description
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Sharjah Rented
warehouse premises
Tel: (971-6) 5437965
Fax: (971-6) 5437964
KEY PRINCIPALS
Name Nationality Position
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Imtiaz Urrab
Syed Moiz Indian Managing
Director
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Syed Sher
Abbas Naqvi
Pakistani Director
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Ali Jaffar
Makki Saleh Bin Khamis Emirati Director
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Dimple
Bhatia - General
Manager
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Mohamed
Sayed Khan - Sales
Manager
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Mohamed
Abdul Wasif - Finance
Manager
LEGAL FORM & OWNERS
Date of Establishment : 29th
October 2003
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 64684, Dubai
Trade Licence No. : 550394 (Expires
28/10/2008)
Chamber Member No. : 81930
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
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Ali Jaffar
Makki Saleh Bin Khamis 51%
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Imtiaz Urrab
Syed Moiz 25%
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Syed Sher Abbas
Naqvi 24%
AFFILIATED COMPANIES
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Dubai Scrap
Trading
Sharjah
United Arab Emirates
OPERATIONS
Activities: Engaged in the import and distribution of
ferrous and non-ferrous metals.
Import
Countries: Europe and the
Far East
Operating Trend: Steady
Subject has a
workforce of 16 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency: United
Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/06: Year
Ending 31/12/07:
Total Sales UAE Dh 7,500,000 UAE Dh 8,200,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures were confirmed by Mr Mohamed Abdul Wasif,
Finance Manager.
BANKERS
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Commercial
Bank of Dubai
Baniyas Street
PO Box : 1709
Deira
Dubai
Tel : (971-4) 2227121 / 2253222
Fax : (971-4) 2220943 / 2254565
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in
2003, subject is involved in the import and distribution of ferrous and
non-ferrous metals.
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.43.12 |
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UK Pound |
1 |
Rs.85.08 |
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Euro |
1 |
Rs.67.41 |
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%)