|
Report Date : |
08.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
STEMCOR |
|
|
|
|
Registered Office : |
Jumeirah Lakes Towers, Silver Tower 1, Level
No. 21, Suite No. 2503, Sheikh Zayed Road, P O Box 37324, Dubai |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
01.12.2005 |
|
|
|
|
Com. Reg. No.: |
0459, DMCC |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Import and distribution of steel, semi finished steel and steel raw materials |
|
|
|
|
No. of Employees : |
22 |
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 : |
Satisfactory |
|
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
UAE |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
UAE - ECONOMIC OVERVIEW
The UAE has an open economy
with a high per capita income and a sizable annual trade surplus. Successful
efforts at economic diversification have reduced the portion of GDP based on
oil and gas output to 25%. Since the discovery of oil in the UAE more than 30
years ago, the UAE has undergone a profound transformation from an impoverished
region of small desert principalities to a modern state with a high standard of
living. The government has increased spending on job creation and
infrastructure expansion and is opening up utilities to greater private sector
involvement. In April 2004, the UAE signed a Trade and Investment Framework
Agreement with
Source : CIA
Company Name :
STEMCOR
Country of Origin :
Legal Form :
Limited Liability Company - LLC
Registration Date :
1st December 2005
Commercial Registration Number :
0459, DMCC
Trade Licence Number :
30267
Issued Capital :
UAE Dh 300,000
Paid up Capital :
UAE Dh 300,000
Total Workforce :
22
Activities :
Import and distribution of steel, semi finished steel
and steel raw
materials
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed :
Hafiz Ahmed, Commercial Manager
STEMCOR
Registered &
Physical Address
Building :
Street :
PO Box : 37324
Town :
Country :
Telephone : (971-4) 4270452
Facsimile : (971-4) 4270451
Email : dubai@stemcor.com
/ angelica.fuerzaf@stemcor.com
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Dubai.
Name Position
· Bill Attenborough Managing
Director
· Chris Combe General
Manager
· Hafiz Ahmed Commercial
Manager
· Mohamed Al Honaidi Sales
Manager
· Delip Vyas Finance
Manager
· Samiya Fernandes Office
Manager
Date of
Establishment : 1st
December 2005
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 0459, DMCC
Trade Licence No. : 30267
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder
(s) Percentage
· Stemcor UK Ltd 100%
City Point
Tel:
(44-207) 7753600
Activities: Engaged in the import and distribution of steel, semi finished steel and steel raw materials.
Import Countries:
Subject has a workforce of 22 employees.
Companies registered in
·
National Bank of
PO Box:
777
Tel:
(971-4) 2222241
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.54.25 |
|
|
1 |
Rs.87.00 |
|
Euro |
1 |
Rs.69.83 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.