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Report Date : |
12.11.2013 |
IDENTIFICATION DETAILS
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Name : |
MILLENNIUM METAL TRADING LLC |
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Registered Office : |
Industrial Area No. 3, PO Box: 64271, Sharjah |
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Country : |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
15.06.2008 |
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Com. Reg. No.: |
7766 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Distributors of non-ferrous metals |
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No. of Employees : |
26 |
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
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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A2 |
A2 |
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Risk Category |
ECGC
Classification |
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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 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
|
Source
: CIA |
Company Name :
MILLENNIUM METAL TRADING LLC
Country of Origin :
Legal Form :
Limited Liability Company - LLC
Registration Date :
15th June 2008
Commercial Registration Number :
7766, Sharjah
Trade Licence Number :
561640
Chamber Membership Number :
84908
Issued Capital :
UAE Dh 150,000
Paid up Capital :
UAE Dh 150,000
Total Workforce :
26
Activities :
Distributors of non-ferrous metals
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
MILLENNIUM METAL TRADING LLC
Registered &
Physical Address
Location : Industrial
Area No. 3
PO Box : 64271
Town : Sharjah
Country :
Telephone : (971-6) 5439577
Facsimile : (971-6)
5439588
Email : trading@mmtl.ae
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
Mrs Fatima Marya Verala Indian Managing
Director
Salam Rashid Emirati Director
Stephan Verala - Warehouse
Manager
Date of Establishment : 15th
June 2008
Legal Form : Limited Liability
Company - LLC
Commercial Reg. No. : 7766, Sharjah
Trade Licence No. : 561640
Chamber Member No. : 84908
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Name of
Shareholder (s) Percentage
Salam Rashid 51%
Mrs Fatima Marya Verala 49%
Activities: Engaged in the import and
distribution of non-ferrous metals, including aluminium and brass.
Import Countries: Europe
and the
Operating Trend: Steady
Subject has a workforce of 26 employees.
Financial highlights provided by local sources are given below:
Currency:
Year
Ending 31/12/11: Year Ending
31/12/12:
Total Sales UAE
Dh 21,600,000 UAE Dh
22,330,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
Standard Chartered Bank
PO Box: 5
Sharjah
Tel: (971-6) 5357788
Fax: (971-6) 5543604
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
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Indian Rupees |
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US Dollar |
1 |
Rs.63.30 |
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|
1 |
Rs.101.36 |
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Euro |
1 |
Rs.84.60 |
INFORMATION DETAILS
|
Report Prepared
by : |
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RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 |
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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 |
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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.