MIRA INFORM REPORT

Report Date :

03.05.2012

IDENTIFICATION DETAILS

Name :	WORLD METALS & ALLOYS FZC

Registered Office :	Saif Zone, Warehouse No. 63/140 PO Box 120369 Sharjah

Country :	United Arab Emirates

Financials (as on) :	31.12.2011

Date of Incorporation :	26.06.2008

Legal Form :	Free Zone Company

Line of Business :	Distributors of ferrous and non-ferrous metals.

No. of Employees :	06

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Good
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 31^st, 2012

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

UAE

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

SUMMARY

Company Name : WORLD METALS & ALLOYS FZC

Country of Origin : Sharjah, United Arab Emirates

Legal Form : Free Zone Company - FZC

Registration Date : 26^th June 2008

Trade Licence Number : 0387, Saif Zone

Issued Capital : UAE Dh 150,000

Paid up Capital : UAE Dh 150,000

Total Workforce : 6

Activities : Distributors of ferrous and non-ferrous metals.

Financial Condition : Good

Payments : Nothing detrimental uncovered

Operating Trend : Steady

Person Interviewed : Arvindar Ranagswami, Director

COMPANY NAME

WORLD METALS & ALLOYS FZC

company ADDRESS

Registered & Physical Address

Location : Saif Zone, Warehouse No. 63/140

PO Box : 120369

Town : Sharjah

Country : United Arab Emirates

Telephone : (971-6) 5529128

Facsimile : (971-6) 5529398

Mobile : (971-50) 7260633

Email : gmalloys@eim.ae

Premises

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

KEY PRINCIPALS

Name Position

· Rimal Kumar Mohan Lal Managing Director

· Arvindar Ranagswami Director

LEGAL FORM & OWNERS

Date of Establishment : 26^th June 2008

Legal Form : Free Zone Company - FZC

Trade Licence No. : 0387, Saif Zone

Issued Capital : UAE Dh 150,000

Paid up Capital : UAE Dh 150,000

Name of Shareholder (s)

· Rimal Kumar Mohan Lal

· Arvindar Ranagswami

OPERATIONS

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

Import Countries: India

Operating Trend: Steady

Subject has a workforce of 6 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 400,000,000 UAE Dh 413,000,000

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

The above figures were provided by Mr Arvindar Ranagswami, Director

BANKERS

· Mashreq Bank Plc

Foreign Trade Centre

Al Boorj Avenue

PO Box: 9271

Sharjah

Tel: (971-6) 5351366 / 5354873

Fax: (971-6) 5372903

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.52.93
UK Pound	1	Rs.85.85
Euro	1	Rs.69.94

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%)

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