|
Report Date : |
22.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
STEEL MASTERS
INTERNATIONAL LTD INC |
|
|
|
|
Registered Office : |
LOB 16, Jebel Ali
Free Zone, 17603 |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
20.05.2003 |
|
|
|
|
Legal Form : |
Branch of a
Foreign Registered Corporation |
|
|
|
|
Line of Business : |
Distributors of
steel products. |
|
|
|
|
No. of Employees : |
18 |
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 (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
United Arab Emirates - 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 : STEEL MASTERS
INTERNATIONAL LTD INC
Country of Origin :
Legal Form :
Branch of a Foreign Registered Corporation
Registration Date : 20th
May 2003
Trade Licence
Number : 3941
Chamber Membership
Number : 86304
Total Workforce : 18
Activities :
Distributors of steel products.
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
STEEL MASTERS
INTERNATIONAL LTD INC
Location : LOB 16, Jebel Ali Free Zone
PO Box : 17603
Town :
Country :
Telephone : (971-4) 8872882
Facsimile : (971-4) 8872884
Email : smiltd@emirates.net.ae
Subject operates
from a small suite of offices that are rented and located in the Jebel Ali Free
Zone Area of Dubai.
Name Position
·
Mandeep
Bhandari Managing
Director
Date of Establishment : 20th
May 2003
Legal Form : Subject
is the
a Limited
Liability Company incorporated in
Steel Masters
International Ltd Inc in the
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
Trade Licence No. : 3941
(Expires 19/05/2013)
Chamber Member No. : 86304
Activities: Engaged in the import and distribution of steel products, including pipes and fittings, pre-fabricated houses and reinforced steel bars.
Import
Countries: Europe and the
Agencies Held:
·
Dependable
Steel
·
BlueScope
Steel Limited
Subject has a
workforce of 18 employees.
Companies
registered in
·
HSBC
Bank
Deira Souk Branch
PO Box: 66
Tel: (971-4) 2535000
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.55.20 |
|
|
1 |
Rs.87.79 |
|
Euro |
1 |
Rs.70.42 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.