MIRA INFORM REPORT

Report Date :

20.08.2014

IDENTIFICATION DETAILS

Name :	TRIGON GULF FZCO
Registered Office :	Plot No. MO0747, Sheikh Zayed Road, Between 12th & 13th Roundabout, Jebel Ali Free Zone, PO Box : 61468, Dubai
Country :	United Arab Emirates
Financials (as on) :	31.12.2012
Date of Incorporation :	10.08.2003
Legal Form :	Free Zone Company
Line of Business :	Subject is engaged in the import and distribution of ferrous and non-ferrous metals and alloys, steel tubes, paper products and pulp, synthetic rubber and industrial chemicals.
No. of Employees :	35

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 – September 30, 2013

Country Name	Previous Rating (30.06.2013)	Current Rating (30.09.2013)
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 : TRIGON GULF FZCO

Country of Origin : Dubai, United Arab Emirates

Legal Form : Free Zone Company - FZCO

Registration Date : 10^th August 2003

Trade Licence Number : 1511

Chamber Membership Number : 79102

Issued Capital : UAE Dh 2,000,000

Paid up Capital : UAE Dh 2,000,000

Total Workforce : 35

Activities : Import and distribution of ferrous and non-ferrous metals and alloys, steel tubes, paper products and pulp, synthetic rubber, and industrial chemicals

Financial Condition : Good

Payments : Nothing detrimental uncovered

Operating Trend : Steady

Person Interviewed : Uday Apan, Finance Manager

COMPANY NAME

TRIGON GULF FZCO

ADDRESS

Registered & Physical Address

Building : Plot No. MO0747

Street : Sheikh Zayed Road, Between 12th & 13th Roundabout

Area : Jebel Ali Free Zone

PO Box : 61468

Town : Dubai

Country : United Arab Emirates

Telephone : (971-4) 8832010

Facsimile : (971-4) 8831788

Mobile : (971-50) 4592698 / 7561324

Email : trigon@emirates.net.ae / info@trigon.ae / uday@trigon.ae

Premises

Subject operates from a medium sized suite of offices and a warehouse that are rented and located in the Jebel Ali Free Zone.

KEY PRINCIPALS

Name Nationality Position

Manoj Shivnani Saduram Indian Managing Director

Uday Apan - Finance Manager

Rajiv Mathur - Sales Manager (Steel & Chemicals)

Rajendra Wangano - Sales Manager (Rubber)

LEGAL FORM & OWNERS

Date of Establishment : 10^th August 2003

Legal Form : Free Zone Company - FZCO

Trade Licence No. : 1511

Chamber Member No. : 79102

Issued Capital : UAE Dh 2,000,000

Paid up Capital : UAE Dh 2,000,000

Name of Shareholder (s) Percentage

Brigance Enterprises Ltd 70%

United Arab Emirates

Capital Village Assets 30%

British Virgin Islands

AFFILIATED COMPANIES

Trigon Steel FZE

PO Box: 61468

Dubai

Tel: (971-4) 8832010

Fax: (971-4) 8831788

Licence No. 111347

OPERATIONS

Activities: Engaged in the import and distribution of ferrous and non-ferrous metals and alloys, steel tubes, paper

products and pulp, synthetic rubber and industrial chemicals.

Import Countries: Europe and the Far East.

Operating Trend: Steady

Subject has a workforce of 35 employees.

FINANCIAL DATA

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 Sales UAE Dh 962,000,000 UAE Dh 971,000,000

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

The above financial figures were confirmed by Mr Uday Apan, Finance Manager

BANKERS

Standard Chartered Bank

Jebel Ali Free Zone

PO Box: 16920

Dubai

Tel: (971-4) 8856600

Acc No. 01-7036442-01

PAYMENT HISTORY

No complaints regarding subject’s payments have been reported.

GENERAL COMMENTS

Established in 2003, subject is involved in the import and distribution of ferrous and non-ferrous metals, steel tubes, rubber, paper products and industrial chemicals.

Local sources report that payment obligations are met in a generally timely manner and the operating history is clear. As such the company is deemed a fair trade risk.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.73
UK Pound	1	Rs.101.47
Euro	1	Rs.81.04

INFORMATION DETAILS

Report Prepared by :

TPT

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