MIRA
INFORM REPORT
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Report Date : |
08.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
ANJALI METAL MATERIALS TRADING LLC |
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Registered Office : |
Al Tawhidi Real
Estate Building, Khalid Ibn Al Waleed Street, Al Mankhool, PO Box 49870,
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 : |
18.02.2003 |
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Com. Reg. No.: |
61792, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Import and Distribution of Scrap and Waste 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$ 250,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : ANJALI METAL MATERIALS TRADING LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 18th February 2003
Commercial Registration Number : 61792, Dubai
Trade Licence Number : 542155
Chamber Membership Number : 75415
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 75
Activities : Import and distribution of scrap and waste metals
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 250,000
COMPANY NAME
ANJALI METAL
MATERIALS TRADING LLC
ADDRESS
Registered & Physical Address
Building : Al Tawhidi Real Estate Building
Street : Khalid Ibn Al Waleed Street
Area : Al Mankhool
PO Box : 49870
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3511464
Facsimile : (971-4) 3511465
Premises
Subject operates
from a large suite of offices and a warehouse that are rented and located in
the Central Business Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
·
Sanjeev Garg
Gulab Chand Indian Managing
Director
·
Juma Abdul
Rahman Al Matroushi Emirati Director
LEGAL FORM & OWNERS
Date of Establishment : 18th
February 2003
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 61792, Dubai
Trade Licence No. : 542155
(Expires 15/02/2009)
Chamber Member No. : 75415
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
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Juma Abdul Rahman
Al Matroushi 51%
·
Sanjeev Garg
Gulab Chand 49%
OPERATIONS
Activities: Engaged in the import and distribution of
scrap and waste metals.
Import
Countries: Europe and GCC
countries
Operating Trend: Steady
Subject has a
workforce of 75 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
11,280,000 UAE Dh
14,900,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
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Bank of Baroda
PO Box : 3162
Dubai
Tel : (971-4) 5531955
Fax : (971-4) 5536962
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in
2003, subject is owned and managed by Mr Sanjeev Garg Gulab Chand, an Indian
national who operates in Dubai under the local sponsorship of Mr Juma Abdul
Rahman Al Matroushi.
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.43.37 |
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UK Pound |
1 |
Rs.85.51 |
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Euro |
1 |
Rs.68.08 |
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%)