MIRA INFORM REPORT

 

 

 

 

Report Date :

09.12.2013

 

IDENTIFICATION DETAILS

 

Name :

BLACK MOUNTAIN TRADING FZE

 

 

Registered Office :

Hamriyah Free Zone, PO Box: 42078, Sharjah

 

 

Country :

United Arab Emirates

 

 

Date of Incorporation :

14.09.2012

 

 

Legal Form :

Free Zone Establishment

 

 

Line of Business :

Distributors of steel, scrap steel and other metals.

 

 

No. of Employees :

1

 

 

 

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)

United Arab Emirates

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 Washington and in November 2004 agreed to undertake negotiations toward a Free Trade Agreement with the US, however, those talks have not moved forward. The country's Free Trade Zones - offering 100% foreign ownership and zero taxes - are helping to attract foreign investors. The global financial crisis, tight international credit, and deflated asset prices constricted the economy in 2009. UAE authorities tried to blunt the crisis by increasing spending and boosting liquidity in the banking sector. The crisis hit Dubai hardest, as it was heavily exposed to depressed real estate prices. Dubai lacked sufficient cash to meet its debt obligations, prompting global concern about its solvency. The UAE Central Bank and Abu Dhabi-based banks bought the largest shares. In December 2009 Dubai received an additional $10 billion loan from the emirate of Abu Dhabi. The economy is expected to continue a slow rebound. Dependence on oil, a large expatriate workforce, and growing inflation pressures are significant long-term challenges. The UAE''s strategic plan for the next few years focuses on diversification and creating more opportunities for nationals through improved education and increased private sector employment.

 

Source : CIA

 

 

SUMMARY

 

Company Name                                     : BLACK MOUNTAIN TRADING FZE

Country of Origin                                    : Sharjah, United Arab Emirates

Legal Form                                            : Free Zone Establishment - FZE

Registration Date                                   : 14th September 2012

Trade Licence Number                            : 9745

Issued Capital                                        : UAE Dh 250,000

Paid up Capital                                      : UAE Dh 250,000

Total Workforce                                     : 1

Activities                                               : Distributors of steel, scrap steel and other metals.

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

Person Interviewed                                 : Zahed Muzaffar, Managing Director

 

 

 

COMPANY NAME

 

BLACK MOUNTAIN TRADING FZE

 

 

ADDRESS

 

Registered & Physical Address

 

Location            : Hamriyah Free Zone

PO Box             : 42078

Town                 : Sharjah

Country             : United Arab Emirates

 

Mobile               : (971-50) 5530690

Email                : zahedmuzaffar@hotmail.com

 

Premises

 

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

 

Branch Office (s)

 

            Location                                                                                              Description

 

Gold Crust Executive No. 1909                                                                            Office premises

Jumeirah Lakes Towers

PO Box: 309037

Dubai

Tel: (971-4) 3905154

Fax: (971-4) 4547797

 

 

KEY PRINCIPALS

 

            Name                                       Nationality                               Position

 

Zahed Muzaffar                                      Pakistani                                   Managing Director

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 14th September 2012

 

Legal Form                  : Free Zone Establishment - FZE

 

Trade Licence No.       : 9745 (Expires 15/09/2013)

 

Issued Capital              : UAE Dh 250,000

 

Paid up Capital            : UAE Dh 250,000

 

Name of Shareholder (s)                                                     Percentage

 

Zahed Muzaffar                                                                          100%

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of steel, scrap steel and other metals.

 

Subject has a workforce of 1 employee.

 

 

FINANCIAL DATA

 

Subject is a newly formed business and as a result financial information is not currently available.

 

 

BANKERS

 

Habib Bank Ltd

Murshid Bazaar

PO Box: 888

Dubai

Tel: (971-4) 2221281

Fax: (971-4) 2284631

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

In view of subject’s infancy, extensive payment and financial are not available, therefore dealings are recommended to be on secured terms, and a close monitoring of subject’s business development is advisable.

 

 



FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.67

UK Pound

1

Rs.100.65

Euro

1

Rs.84.25

 

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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