MIRA INFORM REPORT

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Report Date :

22.08.2014

IDENTIFICATION DETAILS

Name :	TRIMEX INTERNATIONAL FZE
Registered Office :	Lob No. 7, Office No. 27 Sheikh Zayed Road Jebel Ali Free Zone PO Box 17056 Dubai
Country :	United Arab Emirates
Financials (as on) :	31.12.2012
Date of Incorporation :	28.05.1995
Legal Form :	Free Zone Establishment - FZE
Line of Business :	Processors of minerals.
No. of Employees :	4

NOTES

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ECGC Country Risk Classification List – June 30^th, 2012

Country Name	Previous Rating (31.03.2011)	Current Rating (30.06.2012)
UAE	A2	A2

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

UAE - 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 : TRIMEX INTERNATIONAL FZE

Country of Origin : Dubai, United Arab Emirates

Legal Form : Free Zone Establishment - FZE

Registration Date : 28^th May 1995

Trade Licence Number : 7176

Chamber Membership Number : 125774

Issued Capital : UAE Dh 1,000,000

Paid up Capital : UAE Dh 1,000,000

Total Workforce : 4

Activities : Processors of minerals.

Financial Condition : Fair

Payments : Nothing detrimental uncovered

Operating Trend : Steady

COMPANY NAME

TRIMEX INTERNATIONAL FZE

ADDRESS

Registered Address

Building : LOB No. 7, Office No. 27

Street : Sheikh Zayed Road

Area : Jebel Ali Free Zone

PO Box : 17056

Town : Dubai

Country : United Arab Emirates

Telephone : (971-4) 8835544

Facsimile : (971-4) 8836410

Email : trimex@emirates.net.ae / frontdesk@trimexgroup.com / nasir.m@trimexgroup.com

Physical Address

Location : Gold Tower, 34^th Floor, Jumeirah Lakes Towers

Town : Dubai

Country : United Arab Emirates

Telephone : (971-4) 4308844 / 4494300

Facsimile : (971-4) 4309092

Premises

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

KEY PRINCIPALS

Name Nationality Position

· Madhu Koneru Indian Managing Director

· Prasad R Koneru Indian Director

· Swaminathan Gopalan - General Manager

· K S Bala - Financial Controller

LEGAL FORM & OWNERS

Date of Establishment : 28^th May 1995

Legal Form : Free Zone Establishment - FZE

Trade Licence No. : 7176

Chamber Member No. : 125774

Issued Capital : UAE Dh 1,000,000

Paid up Capital : UAE Dh 1,000,000

Name of Shareholder (s) Percentage

· Trimex Industries Ltd 100%

Trimex Tower

1 Subbaraya Avenue

C P Ramaswamy Road

Chennai 600018

India

Tel: (91-44) 24988822

Fax: (91-44) 24986047

AFFILIATED COMPANIES

· Trimex Commodities DMCC

Gold Tower, 34^th Floor

Jumeirah Lakes Towers

Dubai

Tel: (971-4) 4308844 / 4494300

Fax: (971-4) 4309092

DMCC No. 31195

OPERATIONS

Activities: Engaged in the processing of minerals, marble, stone and gravel.

Import Countries: India

Operating Trend: Steady

Subject has a workforce of 4 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 12,600,000 UAE Dh 12,850,000

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

The above financial figures are based on estimations by our local sources.

BANKERS

· ABN Amro Bank

Deira Branch

PO Box: 2567

Dubai

Tel: (971-4) 3512200

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.60.77
UK Pound	1	Rs.100.72
Euro	1	Rs.80.56

INFORMATION DETAILS

Report Prepared by :

NIT

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