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Report Date : |
25.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
METTLESOME STEEL
& METAL LTD |
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|
|
|
Registered Office : |
Plot No. MO 0111,
Street No. 721, Jebel Ali Free Zone, 61402 |
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Country : |
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Date of Incorporation : |
19.08.2007 |
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Legal Form : |
Branch of a
Foreign Registered Corporation |
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Line of Business : |
Distributors of packaging steel, tinplate, steel sheets, coils, metal cans, ore, wire and packaging materials. |
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No. of Employees : |
5 |
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 |
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|
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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 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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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 : METTLESOME
STEEL & METAL LTD
Country of Origin :
Legal Form : Branch
of a Foreign Registered Corporation
Registration Date : 19th
August 2007
Trade Licence
Number : 7803
Chamber Membership
Number : 122881
Total Workforce : 5
Activities :
Distributors of packaging steel, tinplate, steel sheets, coils, metal cans,
ore, wire and packaging materials.
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed : Jennifer
Macantangay, Administration Manager
METTLESOME STEEL
& METAL LTD
Building : Plot No. MO 0111
Street : Street No. 721
Area : Jebel Ali Free Zone
PO Box : 61402
Town :
Country : United Arab Emirates
Telephone : (971-4) 8862566 / 8871940 / 8834461 /
8862565
Facsimile : (971-4) 8480465
Email : tinplate@eim.ae / support@mettlesome.ae
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Jebel Ali Free Zone Area of Dubai.
Name Nationality Position
·
Yogesh
Ram Kishan Gupta Indian Managing Director
·
Jennifer
Macantangay - Administration
Manager
Date of Establishment : 19th
August 2007
Legal Form :
Subject is the United Arab
Emirates registered branch of Mettlesome Steel & Metal Ltd, a
Limited Liability Company incorporated in
the
Mettlesome Steel & Metal Ltd
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 the
Trade Licence No. : 7803
Chamber Member No. : 122881
·
Mettlesome
Contracting LLC
PO Box: 61402
CR No. 612596
Activities: Engaged in the import and distribution of
packaging steel, tinplate, steel sheets, coils, metal cans, ore, wire and packaging
materials.
Import
Countries: Europe and the
Subject has a
workforce of 5 employees.
Companies
registered in
·
Bank of
PO Box: 3162
Tel: (971-4) 5531955
Fax: (971-4) 5536962
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.53.29 |
|
|
1 |
Rs.86.43 |
|
Euro |
1 |
Rs.68.95 |
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.