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Report Date : |
01.08.2012 |
IDENTIFICATION DETAILS
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Name : |
RIGID METALS LIMITED |
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Registered Office : |
Industrial Area
No. 2, P O Box 4182 &
34730, Sharjah |
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Country : |
United Arab Emirates |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
23.12.1998 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Dismantlers of scrap metals |
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No. of Employees : |
15 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
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 |
Company Name : RIGID METALS LIMITED
Country of Origin : Sharjah, United Arab Emirates
Legal Form : Limited Liability Company
Registration Date : 23rd December 1998
Trade Licence Number : 3581
Chamber Membership Number : 30633
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Total Workforce : 15
Activities : Dismantlers of scrap metals
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
RIGID METALS
LIMITED
Registered &
Physical Address
Location : Industrial Area No. 2
PO Box : 4182 & 34730
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 5338491 / 5323227
Facsimile : (971-6) 5336185 / 5321293
Email : info@azaktrading.com / rigidmetals@hotmail.com
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Industrial Area of Sharjah.
Name Nationality Position
·
Askander
Sultan Khawajah Canadian Managing
Director
·
Amijd
Nawaz Mohamed Pakistani Director
·
Abdul
Wahid Musbah Khalfan Emirati Director
·
Anil
Parasad - General
Manager
·
Mohamed
Bilal - Commercial
Manager
·
Emad Mansour - Financial
Controller
Date of Establishment : 23rd
December 1998
Legal Form :
Limited Liability Company
Trade Licence No. : 3581
Chamber Member No. : 30633
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Name of Shareholder
(s) Percentage
·
Abdul
Wahid Musbah Khalfan 51%
·
Askander
Sultan Khawajah 25%
·
Amijd
Nawaz Mohamed 24%
·
Al
Zarouni & Al Khawajah General Trading LLC
PO Box: 4181
Sharjah
Activities: Engaged in the dismantling of scrap metals,
including aluminium, copper and steel.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 15 employees.
Financial
highlights provided by local sources are given below:
Currency: United
Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/10: Year
Ending 31/12/11:
Total Sales UAE Dh
23,400,000 UAE Dh
25,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
National
Bank of Sharjah
PO Box: 4
Sharjah
Tel: (971-6) 5547747
No complaints regarding
subject’s payments have been reported.
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.55.81 |
|
UK Pound |
1 |
Rs.87.67 |
|
Euro |
1 |
Rs.68.45 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
|
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.