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Report Date : |
10.06.2014 |
IDENTIFICATION DETAILS
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Name : |
JUST & FAIR INTERNATIONAL LIMITED |
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Registered Office : |
LOB No. 16, Office No. 105, Jebel Ali Free Zone, PO Box : 261046, Dubai |
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Country : |
United Arab Emirates |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
22.05.2006 |
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Legal Form : |
Branch of a Foreign Registered Corporation |
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Line of Business : |
Subject is engaged in the import and export of scrap, ferrous and
non-ferrous metal and aluminium as well as waste paper. |
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No. of Employees : |
6 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Branch of a Foreign Registered Corporation |
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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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
United Arab Emirates |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
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 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 :
JUST & FAIR INTERNATIONAL LIMITED
Country of Origin :
British Virgin Islands
Legal Form :
Branch of a Foreign Registered Corporation
Registration Date :
22nd May 2006
Trade Licence Number :
4740
Chamber Membership Number :
107711
Issued Capital :
UAE Dh 185,000
Paid up Capital :
UAE Dh 185,000
Total Workforce :
6
Activities :
Import and export of scrap, ferrous and non-ferrous metal and aluminium as well
as waste paper
Financial Condition :
Good
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Mago G Singh , Managing Director
JUST & FAIR
INTERNATIONAL LIMITED
Registered &
Physical Address
Location : LOB No. 16,
Office No. 105, Jebel Ali Free Zone
PO Box : 261046
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 8871719
/ 8873747 / 3357531 / 3371852
Facsimile : (971-4)
8871912 / 8873748 / 3371952
Mobile : (971-50)
6586548 / (971-55) 4625676 / 8542346
Email : export@jfcintl.com
/ makjafaz@eim.ae
Premises
Subject operates from a small suite of offices and a warehouse that are rented
and located in the Jebel Ali Free Zone, Dubai.
Branch Offices
Location Description
Sultan Business Centre, Level 5, Suite No. 516 Office premises
Oud Mehta
Dubai
Tel: (971-4) 3354233
Fax: (971-4) 3351711
Name Nationality Position
Mago G Singh - Managing
Director
Pradeep Singh Sahni Indian Director
Mohamed Z Qurishi - Commercial
Manager
K Rajan - Financial
Controller
Date of Establishment : 22nd May 2006
Legal Form : Subject is the United
Arab Emirates registered branch of Just & Fair International Limited, a
Limited Liability Company incorporated in the British Virgin Islands.
Trade Licence No. : 4740 (Expires 09/05/2015)
Chamber Member No. : 107711
Issued Capital : UAE Dh 185,000
Paid up Capital : UAE Dh 185,000
Activities: Engaged in the import and
export of scrap, ferrous and non-ferrous metal and aluminium as well as waste
paper.
Import Countries: India
Operating Trend: Steady
Subject has a workforce of 6 employees.
Financial highlights provided by local sources are given below:
Currency: United States Dollars (US$)
Year Ending 31/12/12: Year Ending 31/12/13:
Total Sales US$
87,000,000 US$ 95,000,000
Local sources consider subject’s financial condition to be Good.
The above figures were provided by Mr Mago G Singh, Managing Director
Mashreq Bank Plc
Deira Branch
PO Box: 1250
Dubai
Tel: (971-4) 2229131 / 2221134
Fax: (971-4) 2233784
No complaints regarding subject’s payments have been reported.
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.59.06 |
|
|
1 |
Rs.99.35 |
|
Euro |
1 |
Rs.80.62 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NNA |
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.