MIRA INFORM
REPORT
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Report Date : |
03.05.2011 |
IDENTIFICATION DETAILS
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Name : |
METAAL |
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Registered Office : |
Saif Zone,
Warehouse No. C3-03/01, |
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Country : |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
09.03.2004 |
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Legal Form : |
Free Zone Establishment |
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Line of Business : |
Distributors of ferrous, non-ferrous and scrap 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 |
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 – December 31, 2010
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
|
United Arab Emirates |
a2 |
a2 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
|
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 |
SUMMARY
Company Name : METAAL EUROPE INTERNATIONAL FZE
Country of Origin :
Legal Form : Free Zone Establishment - FZE
Registration Date : 9th March 2004
Trade Licence Number : 02161
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Total Workforce : 6
Activities : Distributors of ferrous, non-ferrous and scrap metals.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 250,000
Person Interviewed : Vedo Samir Kont, Financial Controller
COMPANY NAME
METAAL
company ADDRESS
Registered & Physical Address
Location : Saif Zone, Warehouse No. C3-03/01
PO Box : 8123
Town : Sharjah
Country :
Telephone : (971-6) 5572160
Facsimile : (971-6) 5572161
Email : metaal04@gmail.com / metaal@emirates.net.ae
Premises
Subject operates from
a small suite of offices and a warehouse that are rented and located in the
Saif Zone Area of Sharjah.
KEY PRINCIPALS
Name Position
·
Sanjiv
Phadke Managing
Director
·
Vedo
Samir Kont Financial
Controller
LEGAL FORM & OWNERS
Date of Establishment : 9th
March 2004
Legal Form :
Free Zone Establishment -
FZE
Trade Licence No. : 02161
(Expires 02/05/2011)
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Name of Shareholder
(s) Percentage
·
Sanjiv Phadke 100%
OPERATIONS
Activities: Engaged in the import and distribution of
ferrous, non-ferrous and scrap metals.
Subject deals in stainless steel scrap
304 / 316 /310/ 430/ 409 grades, prime as well as stock lots of
stainless steel sheets, plates, coils,
tubes & pipes.
Subject is now diversifying to other
fields, including:
• trading of electrical sub-station
equipments
• power transformer accessories
• transformer oil
• prime as well as secondary grade cargo
silicon electrical steel sheets and coils
• trading of construction machinery
and construction chemicals
• tobacco machinery
• medical equipments trading
Import
Countries:
Agencies Held:
·
Maschinen Fabricken Reinhausen Gmbh
·
Borgwaldt
·
Vexve
·
Falcon Chemicals
·
Emirates Lube Oil Company
·
IEC
Operating Trend: Steady
Subject has a
workforce of 6 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency:
Year
Ending 31/12/08: Year
Ending 31/12/09:
Total Sales UAE Dh 18,750,000 UAE Dh 20,000,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Vedo Samir Kont, Financial Controller
BANKERS
·
National
Bank of Sharjah
PO Box: 4
Sharjah
Tel: (971-6) 5547747
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.44.33 |
|
|
1 |
Rs.73.89 |
|
Euro |
1 |
Rs.65.57 |
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 |
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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 |
|
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 |
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.