MIRA INFORM REPORT

 

 

 

 

Report Date :

13.08.2014

 

IDENTIFICATION DETAILS

 

Name :

AL MEHTAB TRADING CO LLC

 

 

Registered Office :

113/30 Abdulkarim Captain Building, Sikkat Al Khail Street (Al Ras Road), Al Ras, Deira, 6354 Dubai

 

 

Country :

United Arab Emirates

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

18.07.1979

 

 

Com. Reg. No.:

41899, Dubai

 

 

Legal Form :

Limited Liability Company - LLC

 

 

Line of Business :

Engaged in the import and distribution of scrap metal, chemicals, urea, sulphur as well as spices and pulses.

 

 

No. of Employees :

18

 

 

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 – December 01, 2013

 

Country Name

Previous Rating

(30.09.2013)

Current Rating

(01.12.2013)

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

SUMMARY

 

Company Name                                     : AL MEHTAB TRADING CO LLC

Country of Origin                                    : Dubai, United Arab Emirates

Legal Form                                            : Limited Liability Company - LLC

Registration Date                                   : 18th July 1979

Commercial Registration Number            : 41899, Dubai

Trade Licence Number                            : 204294

Chamber Membership Number                : 5893

Issued Capital                                        : UAE Dh 600,000

Paid up Capital                                      : UAE Dh 600,000

Total Workforce                                     : 18

Activities                                               : Distributors of scrap metal, chemicals, urea, sulphur as well as spices and pulses.

Financial Condition                                 : Good

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Person Interviewed                                 : Wilson Mutilal, General Manager

 

COMPANY NAME

 

AL MEHTAB TRADING CO LLC

 

 

ADDRESS

 

Registered & Physical Address

 

Building             : 113/30 Abdulkarim Captain Building

Street               : Sikkat Al Khail Street (Al Ras Road)

Area                 : Al Ras, Deira

 

PO Box             : 6354

 

Town                 : Dubai

Country             : United Arab Emirates

 

Telephone         : (971-4) 2262145 / 2262281

Facsimile          : (971-4) 2263369

Mobile               : (971-50) 3785370 / 5484972

Email                : almehtab@emirates.net.ae / info@almehtab.ae / trade@almehtab.ae

 

Premises

 

Subject operates from a small suite of offices and a warehouse that are rented and located in the Central Business Area of Dubai.

 

Branch Offices

 

Location                                                                                           Description

 

·       Emirates Tower, 29th Floor                                                                  Office premises

Sheikh Zayed Road

Dubai

Tel: (971-4) 3270555

Fax: (971-4) 3587676

 

 

KEY PRINCIPALS

 

     Name                                                           Nationality                     Position

 

·       Jagjit Singh Kochar                                       Indian                            Managing Director

 

·       Gurji Singh Kochar                                        Indian                            Director

 

·       Rubinder Kaur Kochar                                    Indian                            Director

 

·       Juma Abdullah Mohamed Ahli                        Emirati                          Director

 

·       Wilson Mutilal                                                    -                              General Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 18th July 1979

 

Legal Form                  : Limited Liability Company - LLC

 

Commercial Reg. No.  : 41899, Dubai

 

Trade Licence No.       : 204294 (Expires 23/01/2015)

 

Chamber Member No. : 5893

 

Issued Capital              : UAE Dh 600,000

 

Paid up Capital            : UAE Dh 600,000

 

Name of Shareholder (s)                                 Percentage

 

·       Juma Abdullah Mohamed Ahli                                    51%

 

·       Jagjit Singh Kochar                                                   25%

 

·       Gurji Singh Kochar                                                    12%

 

·       Rubinder Kaur Kochar                                                12%

 

 

AFFILIATED COMPANIES

 

·       Mehtab JB Properties LLC

Dubai

 

·       Mehtab Metal Trading LLC

Dubai

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of scrap metal, chemicals, urea, sulphur as well as spices and pulses.

 

Import Countries: Europe and the Far East.

 

Operating Trend: Steady

 

Subject has a workforce of 18 employees.

 

 

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: United Arab Emirates Dirham (UAE Dh)

 

                                                Year Ending 31/12/12:                Year Ending 31/12/13:

 

Total Sales                                UAE Dh 209,000,000                  UAE Dh 250,000,000

 

Local sources consider subject’s financial condition to be Good.

 

The above figures were provided by Mr Wilson Mutilal, General Manager

 

 

BANKERS

 

·       Standard Chartered Bank

Khalid Bin Waleed Street

PO Box: 999

Dubai

Tel: (971-4) 2520455

 

·       Abu Dhabi Commercial Bank

Al Rigga Road

PO Box: 5550

Dubai

Tel: (971-4) 2958888 / 3228141

Fax: (971-4) 2959310 / 3279632

 

·       Emirates National Bank of Dubai

Al Ras Branch

Deira

Dubai

Tel: (971-4) 2214535

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

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.61.18

UK Pound

1

Rs.102.56

Euro

1

Rs.81.78

 

 

INFORMATION DETAILS

 

Report Prepared by :

NIS

 

 

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