MIRA INFORM REPORT

 

 

Report Date :

07.07.2012

 

IDENTIFICATION DETAILS

 

Name :

AL ZAKOORI INTERNATIONAL

 

 

Registered Office :

Saif Zone, Plot No. E06, P O Box 7868, Sharjah

 

 

Country :

United Arab Emirates 

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

23.08.1997

 

 

Legal Form :

Branch of a Foreign Registered Corporation

 

 

Line of Business :

Distributors of ferrous and non ferrous scrap metals

 

 

No. of Employees :

30

 

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

 

Status :

Branch of a Foreign Registered Corporation

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, 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

SUMMARY

 

Company Name                                     : AL ZAKOORI INTERNATIONAL

Country of Origin                                    : British Virgin Islands

Legal Form                                            : Branch of a Foreign Registered Corporation

Registration Date                                   : 23rd August 1997

Trade Licence Number                            : 00280

Total Workforce                                     : 30

Activities                                               : Distributors of ferrous and non ferrous scrap metals.

Financial Condition                                 : Good

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Person Interviewed                                 : Najmuddine Ali, Sales Manager

 

 

COMPANY NAME

 

AL ZAKOORI INTERNATIONAL

 

 

company ADDRESS

 

Registered & Physical Address

Location            : Saif Zone, Plot No. E06

PO Box             : 7868

Town                 : Sharjah

Country             : United Arab Emirates

Telephone         : (971-6) 5341078

Facsimile          : (971-6) 5341054

Email                : info@alzakoori.com / alzakoori@eim.ae

 

Premises

Subject operates from a medium sized suite of offices that are rented and located in the Saif Zone Area of Sharjah.

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

·       Mohamed Moultazim Khan                                                                 Managing Director

·       Najmuddine Ali                                                                                  Sales Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 23rd August 1997

 

Legal Form                  : Subject is the United Arab Emirates registered branch of Al Zakoori International Ltd a

  Limited Liability Company incorporated in the British Virgin Islands.

 

  Al Zakoori International in the United Arab Emirates, operates as a Branch of a Foreign

  Registered Corporation. 

 

  A Branch of a Foreign Registered Corporation is not a legal entity in its own

  right. Responsibility for payments lays in the hands of the company where it is

  originally registered.

 

  Under these circumstances, we strongly advise that any international trade

  credit should only be written under the name of the main company where the

  subject holds its registered office, in this case the British Virgin Islands.

 

Trade Licence No.       : 00280 (Expires 22/08/2012)

 

AFFILIATED COMPANIES

 

·       Al Zakoori Metal & Moulding LLC

Sharjah

Tel: (971-6) 5341078

 

·       Royal Metal Moulding LLC

Sharjah

Tel: (971-6) 5341653

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of ferrous and non-ferrous scrap metals.

 

Import Countries: Europe and the Far East.

 

Operating Trend: Steady

 

Subject has a workforce of 30 employees.

 

 

FINANCIAL DATA

 

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 62,800,000                   UAE Dh 70,000,000

 

Local sources consider subject’s financial condition to be Good.

 

The above figures were provided by Mr Najmuddine Ali, Sales Manager

 

 

BANKERS

 

·       Standard Chartered Bank

Al Boorj Avenue

PO Box: 5

Sharjah

     Tel: (971-6) 5357788

     Fax: (971-6) 5543604

 

 

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.55.42

UK Pound

1

Rs.86.04

Euro

1

Rs.68.61

 

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

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.