MIRA INFORM REPORT

Report Date :

13.02.2012

IDENTIFICATION DETAILS

Name :	ARABIAN STEEL TRADING FZC

Registered Office :	Ras Al Khaimah Free Zone PO Box 16111 Ras Al Khaimah

Country :	United Arab Emirates

Date of Incorporation :	22.11.2011

Legal Form :	Free Zone Company - FZC

Line of Business :	Distributors of galvanised, flat, hot and cold rolled steel.

No. of Employees :	3

RATING & COMMENTS

MIRA’s Rating :

RATING

STATUS

PROPOSED CREDIT LINE

New Business

Status :	New Company
Payment Behaviour :	Unknown
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 – September 30, 2011

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

UAE

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

SUMMARY

Company Name : ARABIAN STEEL TRADING FZC

Country of Origin : Ras Al Khaimah, United Arab Emirates

Legal Form : Free Zone Company - FZC

Registration Date : 22^nd November 2011

Trade Licence Number : 5006710

Issued Capital : UAE Dh 1,000,000

Paid up Capital : UAE Dh 1,000,000

Total Workforce : 3

Activities : Distributors of galvanised, flat, hot and cold rolled steel.

Financial Condition : Undetermined

Payments : Nothing detrimental uncovered

Person Interviewed : B S Shetty, Commercial Manager

COMPANY NAME

ARABIAN STEEL TRADING FZC

ADDRESS

Registered & Physical Address

Location : Ras Al Khaimah Free Zone

PO Box : 16111

Town : Ras Al Khaimah

Country : United Arab Emirates

Telephone : (971-7) 2078134

Facsimile : (971-7) 2041010

Email : arabiansteel@rakfzbc.ae

Premises

Subject operates from a small suite of offices and a warehouse that are rented and located in the Ras Al Khaimah Free Zone Area.

KEY PRINCIPALS

Name Nationality Position

· Kamal Nazer Indian Managing Director

· Ikram Habib Indian Director

· B S Shetty - Commercial Manager

LEGAL FORM & OWNERS

Date of Establishment : 22^nd November 2011

Legal Form : Free Zone Company - FZC

Trade Licence No. : 5006710

Issued Capital : UAE Dh 1,000,000

Paid up Capital : UAE Dh 1,000,000

Name of Shareholder (s)

· Kamal Nazer

· Ikram Habib

OPERATIONS

Activities: Engaged in the import and distribution of galvanised, flat, hot and cold rolled steel.

Import Countries: Europe and the Far East

Subject has a workforce of 3 employees.

FINANCIAL DATA

Subject is a newly formed business and as a result financial information is not currently available.

BANKERS

· National Bank of Ras Al Khaimah

NBRAK Building

PO Box: 5300

Ras Al Khaimah

Tel: (971-7) 2221127

Fax: (971-7) 2224202

PAYMENT HISTORY

Unknown

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.49.64
UK Pound	1	Rs.78.35
Euro	1	Rs.65.79

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%)

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