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Report Date : |
19.08.2014 |
IDENTIFICATION DETAILS
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Name : |
AL MUQARRAM METAL
SCRAP TRADING CO LLC |
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Registered Office : |
Industrial Area
No. 10, P O Box: 66142 & 85743, Sharjah |
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Country : |
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Date of Incorporation : |
26.01.2003 |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Import and
Distribution of Ferrous Scrap Metals. |
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No. of Employees : |
30 |
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 – June 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
|
A2 |
A2 |
|
Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
|
Very High Risk |
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 : AL MUQARRAM METAL
SCRAP TRADING CO LLC
Also Known As : AL
MUQARRAM USED METAL AND MACHINERY TRADING LLC
Country of Origin :
Legal Form : Limited
Liability Company - LLC
Registration Date : 26th
January 2003
Trade Licence
Number : 519798
Chamber Membership
Number : 57293
Issued Capital : UAE Dh
150,000
Paid up Capital : UAE Dh
150,000
Total Workforce : 30
Activities :
Distributors of ferrous scrap metals
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
AL MUQARRAM METAL
SCRAP TRADING CO LLC
AL MUQARRAM USED METAL AND
MACHINERY TRADING LLC
Location : Industrial Area No. 10
PO Box : 66142 & 85743
Town : Sharjah
Country :
Telephone : (971-6) 5344390
Facsimile : (971-6) 5344390
Email : almuqarram@yahoo.co.uk
Subject operates
from a medium sized suite of offices that are rented and located in the
Industrial Area of Sharjah.
Name Nationality Position
·
Mohamed
Abdulrahim Abdullah Al Keswani Emirati Managing Director
·
Faraz
Mohamed Sajad Hassan Indian Director
·
Abdulrahim
Machingal - Sales
Manager
Date of Establishment : 26th
January 2003
Legal Form :
Limited Liability Company -
LLC
Trade Licence No. : 519798
Chamber Member No. : 57293
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
·
Mohamed
Abdulrahim Abdullah Al Keswani
·
Faraz
Mohamed Sajad Hassan
Activities: Engaged in the import and distribution of
ferrous scrap metals.
Import
Countries: Europe and the
Subject has a
workforce of 30 employees.
Companies
registered in
·
Sharjah
Islamic Bank
PO Box: 4
Sharjah
Tel: (971-6) 5547747
No complaints
regarding subject’s payments have been reported.
Local sources
report that the subject’s operating history is clear with payment obligations
met in a generally timely manner. The financial position is satisfactory and
the company is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.06 |
|
|
1 |
Rs.101.84 |
|
Euro |
1 |
Rs.81.56 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
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 |
|
|
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 |
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|
-- |
NB |
New Business |
-- |
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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.