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Report Date : |
20.09.2013 |
IDENTIFICATION DETAILS
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Name : |
A N M METALS LLC |
|
|
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Registered Office : |
401-404 Business
Atrium Building, 4th Floor, Umm Hurair Road, Bur Dubai, P O Box 112756, Dubai |
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Country : |
United Arab Emirates |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
29.10.2003 |
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Com. Reg. No.: |
64684, Dubai |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
importer and distributor of ferrous and
non-ferrous metals. |
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No. of Employees : |
16 |
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 |
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Status : |
Good |
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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) |
|
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 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 : A N M METALS LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 29th October 2003
Commercial Registration Number : 64684, Dubai
Trade Licence Number : 550394
Chamber Membership Number : 81930
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 16
Activities : Import and distribution of ferrous and non-ferrous metals
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Farooq Lalani, Financial Controller
A N M METALS LLC
Registered & Physical
Address
Building : 401-404 Business Atrium Building,
4th Floor
Street : Umm Hurair Road
Area : Bur Dubai
PO Box : 112756
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 4033000
Facsimile : (971-4) 3574113
Mobile : (971-52) 9095707
Email : purchase@anmmetals.ae / trading@anmgroup.ae
Please note that
subject’s previous address was, Al Nakheel Building, 1st Floor, Office No
112, Za’abeel Street, Al Karama, Dubai. Subject moved to the above
address in 2010.
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Dubai.
Branch Office (s)
Location Description
·
Sharjah Rented warehouse
premises
Tel: (971-6) 5437965
Fax: (971-6) 5437964
Name Nationality Position
·
Imtiaz
Urrab Syed Moiz Indian Managing
Director
·
Syed
Sher Abbas Naqvi
Pakistani Director
·
Ali
Jaffar Makki Saleh Bin Khamis Emirati Director
·
Dimple Bhatia - General
Manager
·
Sayef
Asif - Sales
Manager
·
Mohamed Abdul Wasif - Finance
Manager
·
Farooq
Lalani - Financial
Controller
Date of Establishment : 29th
October 2003
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 64684, Dubai
Trade Licence No. : 550394
Chamber Member No. : 81930
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder
(s) Percentage
·
Ali
Jaffar Makki Saleh Bin Khamis 51%
·
Imtiaz
Urrab Syed Moiz 25%
·
Syed
Sher Abbas Naqvi 24%
·
Dubai Scrap Trading LLC
Industrial Area No. 11
Sharjah
PO
Box: 37373
Tel:
(971-6) 5348416
Fax:
(971-6) 5348417
· Dubai Metal Recycling LLC
Plot No. 3228, Sajja Industrial Area
Sharjah
PO Box: 37373
Tel: (971-6) 5348416
Fax: (971-6) 5348417
· A N M Interiors LLC
401-404, 4th Floor, Business Atrium Building
Umm Hurair 1, Bur Dubai
Dubai
Tel: (971-4) 3574811
Fax: (971-4) 3574812
Activities: Engaged in the import and distribution of
ferrous and non-ferrous metals.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 16 employees.
Financial
highlights provided by local sources are given below:
Currency: United
Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/11: Year Ending
31/12/12:
Total Revenue UAE Dh 351,642,000 UAE Dh 372,765,000
Local sources
consider subject’s financial condition to be Good.
The above figures
were provided by Mr Farooq Lalani, Financial Controller
·
Commercial
Bank of Dubai
Baniyas Street
Deira
PO Box: 1709
Dubai
Tel: (971-4) 2227121 / 2253222
Fax: (971-4) 2220943 / 2254565
No complaints
regarding subject’s payments have been reported.
Established in 2003,
subject is involved in the import and distribution of ferrous and non-ferrous
metals.
Local informants
spoke to Mr Farooq Lalani, Financial Controller, who confirmed that the correct
name of the company is A N M Metals LLC. He said that A N M Group Holding
is a name registered in the British Virgin Islands and that it does not have a
branch located in Dubai.
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.61.75 |
|
UK Pound |
1 |
Rs.99.56 |
|
Euro |
1 |
Rs.83.55 |
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 |
|
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.