MIRA INFORM REPORT

 

 

Report Date :

05.07.2011

 

IDENTIFICATION DETAILS

 

Name :

STEMCOR MESA DMCC

 

 

Registered Office :

Jumeirah Lakes Towers, Saba Tower 1, Suite No. 2503, Sheikh Zayed Road, PO Box 37324, Dubai

 

 

Country :

United Arab Emirates

 

 

Date of Incorporation :

01.12.2005

 

 

Com. Reg. No.:

0459, DMCC

 

 

Legal Form :

Limited Liability Company - LLC

 

 

Line of Business :

Engaged in the import and distribution of steel, semi finished steel and steel raw materials.

 

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

 

Maximum Credit Limit :

US$ 250,000

Status :

Satisfactory

Payment Behaviour :

No Complaints

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, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

United Arab Emirates 

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

SUMMARY

 

Company Name                                     : STEMCOR MESA DMCC

Country of Origin                                    : Dubai, United Arab Emirates

Legal Form                                            : Limited Liability Company - LLC

Registration Date                                   : 1st December 2005

Commercial Registration Number            : 0459, DMCC

Trade Licence Number                            : 30267

Issued Capital                                        : UAE Dh 300,000

Paid up Capital                                      : UAE Dh 300,000

Total Workforce                                     : 20

Activities                                               : Import and distribution of steel, semi finished steel and steel raw materials

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

Recommended Credit Limit                     : US$ 250,000

Person Interviewed                                 : Hafiz Ahmed, Commercial Manager

 

 

COMPANY NAME

 

STEMCOR MESA DMCC

 

 

COMPANY ADDRESS

 

Registered & Physical Address

 

Building             : Jumeirah Lakes Towers, Saba Tower 1, Suite No. 2503

Street               : Sheikh Zayed Road

PO Box             : 37324

Town                 : Dubai

Country             : United Arab Emirates

Telephone         : (971-4) 4270452

Facsimile          : (971-4) 4270451

Mobile               : (971-50) 6544210

Email                : dubai@ae.stemcor.com / angelica.fuerzaf@stemcor.com

 

Premises

 

Subject operates from a small suite of offices that are rented and located in the Central Business Area of Dubai.

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Bill Attenborough                                                                               Managing Director

 

·       Chris Combe                                                                         General Manager

 

·       Hafiz Ahmed                                                                                     Commercial Manager

 

·       Mohamed Al Honaidi                                                                         Sales Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1st December 2005

 

Legal Form                  : Limited Liability Company - LLC

 

Commercial Reg. No.  : 0459, DMCC

 

Trade Licence No.       : 30267

 

Issued Capital              : UAE Dh 300,000

 

Paid up Capital            : UAE Dh 300,000

 

 

Name of Shareholder (s)                                     Percentage

 

·       Stemcor UK Ltd                                                            100%

City Point

One Ropemaker Street

London EC2Y 9ST

     United Kingdom

     Tel: (44-207) 7753600

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of steel, semi finished steel and steel raw materials.

 

Import Countries: Europe and GCC countries

 

Subject has a workforce of 20 employees.

 

 

FINANCIAL DATA

 

Companies registered in Dubai, United Arab Emirates are not legally required to make their accounts public and no financial information was released by the company or submitted by outside sources.

 

 

BANKERS

 

·       National Bank of Dubai

Baniyas Street

     PO Box: 777

     Dubai

     Tel: (971-4) 2222241

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

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

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.49

UK Pound

1

Rs.71.24

Euro

1

Rs.64.39

 

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.