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Report Date : |
18.07.2013 |
IDENTIFICATION DETAILS
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Name : |
METALLUM METAL TRADING MIDDLE EAST LLC |
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Registered Office : |
Industrial Area No. 1 PO Box 22376 Sharjah |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
07.05.1980 |
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Com. Reg. No.: |
32586, Sharjah |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Distributors of scrap metals |
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No. of Employees : |
15 |
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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
UAE |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 country 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. 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
Company Name : METALLUM METAL TRADING MIDDLE EAST LLC
Country of Origin : Sharjah, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 7th May 1980
Commercial Registration Number : 32586, Sharjah
Trade Licence Number : 14569
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 15
Activities : Distributors of scrap metals
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
METALLUM METAL TRADING MIDDLE EAST LLC
Location : Industrial
Area No. 1
PO Box : 22376
Town : Sharjah
Country : United Arab
Emirates
Telephone : (971-6) 5334786
Facsimile : (971-6)
5333871
Email : dietiker@emirates.net.ae
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Industrial Area of Sharjah.
Name Position
· Sayed Suhail Naqvi Managing
Director
· Sheikh Sultan Bin
Khaled Bin Sultan Al Qassimi Director
Date of
Establishment : 7th
May 1980
History : Subject began in
1980 under the name “Dietiker Aktiengesellschaft Fur Rohmetalle”.
However
in 2010 it changed its name to “Metallum Metal Trading Middle East LLC”.
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 32586, Sharjah
Trade Licence No. : 14569
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
· Metallium Zurich
Ltd
Switzerland
· Sheikh Sultan Bin
Khaled Bin Sultan Al Qassimi
· Emirates
Strongforce Post Tensioning Co
Platinum Business Centre
Baghdad Road
Al Nahda
PO Box: 232981
Dubai
Tel: (971-4) 2582825 / 2808882
Fax: (971-4) 2582826 / 2808883
· Aqua Diving
Services Ltd
Al Khan Area
PO Box: 1875
Sharjah
Tel: (971-6) 5285323
Fax: (971-6) 5281720
· Al Emarat Agritech
Faisal Building 1, 1st Floor, Office No. 102
King Faisal Road
Al Nud, Al Qassimiya Area
PO Box: 66202
Sharjah
Tel: (971-6) 5735346
Fax: (971-6) 5735346
· Walnut Finance
Twin Towers
Deira
PO Box: 51774
Dubai
Tel: (971-4) 3430782
Fax: (971-4) 3430569
· Emirates Forklifts
Rental LLC
Al Khan Street
PO Box: 4962
Sharjah
Tel: (971-6) 5432086
Fax: (971-6) 5432691
Activities: Engaged in the import and distribution of scrap metals.
Import Countries: Europe and GCC countries.
Subject has a workforce of 15 employees.
Companies registered in Sharjah, United Arab Emirates are not legally
required to make their accounts public and no financial information was
released by the company or submitted by outside sources.
·
National Bank of Sharjah
Al Boorj Avenue
PO Box: 4
Sharjah
Tel:
(971-6) 5547747
·
HSBC Bank Middle East
PO Box: 25
Sharjah
Tel: (971-6)
5537222
Fax: (971-6)
5537880
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.59.36 |
|
|
1 |
Rs.89.69 |
|
Euro |
1 |
Rs.77.98 |
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 |
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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 |
|
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 |
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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 |
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<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.