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Report Date : |
31.10.2012 |
IDENTIFICATION DETAILS
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Name : |
GHANTOUT METAL TRADING LLC |
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Registered Office : |
Industrial Area No. 10, |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
15.10.2006 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Traders and exporters of scrap iron, metal and aluminium |
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No. of Employees : |
17 employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 : GHANTOUT METAL TRADING LLC
Country of Origin :
Legal Form : Limited Liability Company - LLC
Registration Date : 15th October 2006
Trade Licence Number : 546979
Chamber Membership Number : 75229
Issued Capital : UAE Dh 500,000
Paid up Capital : UAE Dh 500,000
Total Workforce : 17
Activities : Traders and exporters of scrap iron, metal and aluminium.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Person Interviewed : Imtiaz Ahmed Omar Eddine, Director
GHANTOUT METAL
TRADING LLC
Registered &
Physical Address
Location : Industrial Area No. 10
PO Box : 151277
Town : Sharjah
Country :
Telephone : (971-6) 5351982
Facsimile : (971-6) 5351981
Email : gmt4trade@gmail.com
Premises
Subject operates from
a medium sized suite of offices and a warehouse that are rented and located in
the Industrial Area of Sharjah.
Name Nationality Position
·
Ali Abdullah Juma Abdullah Emirati Managing
Director
·
Imtiaz Ahmed Omar Eddine Pakistani Director
·
Ahmed
Belal - Financial
Controller
Date of Establishment : 15th
October 2006
Legal Form :
Limited Liability Company -
LLC
Trade Licence No. : 546979 (Expires
14/10/2013)
Chamber Member No. : 75229
Issued Capital : UAE Dh 500,000
Paid up Capital : UAE Dh 500,000
Name of Shareholder
(s) Percentage
·
Ali Abdullah Juma Abdullah 51%
·
Imtiaz Ahmed Omar Eddine 49%
Activities: Engaged as traders and exporters of scrap iron, metal and
aluminium.
Import
Countries:
Subject has a
workforce of 17 employees.
Financial
highlights provided by local sources are given below:
Currency:
Year
Ending 31/12/10: Year
Ending 31/12/11:
Total Sales UAE Dh
32,750,000 UAE Dh
15,000,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Imtiaz Ahmed Omar Eddine, Director
·
ABN
Amro Bank
Al
PO Box: 1971
Sharjah
Tel: (971-6) 5355021
·
Habib
Bank AG
Immigration Road
PO Box: 1166
Sharjah
Tel: (971-6) 5730004
Acc No. 22820311105375566
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.54.17 |
|
|
1 |
Rs.86.83 |
|
Euro |
1 |
Rs.69.85 |
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 |
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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 |
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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 |
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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 |
|
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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.