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Report Date : |
10.06.2014 |
IDENTIFICATION DETAILS
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Name : |
MULTI METAL LINK FZC |
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Registered Office : |
Hamriyah Free
Zone, P O Box 51679, Sharjah |
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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 : |
19.10.2009 |
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Legal Form : |
Free Zone Company |
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Line of Business : |
Engaged in the
Import, Export and Distribution of steel
and Scrap Metals such as Ferrous
& Non-Ferrous Scrap Ferrous
Scrap This mainly includes Heavy Metal Scrap (HMS), Shredded Steel Scrap and Foundry Scrap. HMS Scrap & Shredded Steel scrap is mainly used as raw material for production of steel, mainly used in automobile, Engineering, Construction & infrastructure industry. Foundry Scrap is used as raw material which are into casting and Forging manufacturing industry Non-Ferrous
Scrap This includes all base metal scrap like Copper, Brass, Lead, Aluminium, Manganese Sheets. These act as raw material for the manufacturing industry of Pure Non - Ferrous Metals and Alloys |
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No of Employees : |
05 |
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 – 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 |
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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 |
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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 : MULTI METAL LINK FZC
Country of Origin : Sharjah, United Arab Emirates
Legal Form : Free Zone Company - FZC
Registration Date : 19th October 2009
Trade Licence Number : 5546
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Total Workforce : 5
Activities : Distributors of steel and scrap metals
Financial Condition : Fair
Payments : Nothing detrimental uncovered
MULTI METAL LINK FZC
Registered &
Physical Address
Location : Hamriyah Free Zone
PO Box : 51679
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 5538436 / 5532672
Facsimile : (971-6) 5538436
Mobile : (971-50) 4635225 / 5580157 /
(971-56) 7144765
Email : kalepesh@multimetallink.com / info@multimetallink.com
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Hamriyah Free Zone Area of Sharjah.
Name Position
·
Partik Danish Kumar Shah General
Manager
·
Kalepesh Pandiya Finance
Manager
·
Pyuish Bhai Sales
Manager
Date of Establishment : 19th
October 2009
Legal Form :
Free Zone Company - FZC
Trade Licence No. : 5546
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Name of Shareholder
(s) Percentage
·
MTC Business Pvt Ltd 100%
301-302 Vertex
Vikas
A Wing, Andheri
(E)
Mumbai 400 069
India
Tel: (91-22)
67872900
Fax: (91-22)
26844681
·
Multi Metal Links LLC
PO Box: 123074
Dubai
Tel: (971-4) 3542370
Fax: (971-4) 3542460
Activities: Engaged in the import, export and
distribution of steel and scrap metals.
Ferrous Scrap: This mainly includes Heavy Metal Scrap (HMS), Shredded Steel Scrap and Foundry Scrap. HMS Scrap & Shredded Steel scrap is mainly used as raw material for production of steel, mainly used in automobile, Engineering, Construction & infrastructure industry. Foundry Scrap is used as raw material which are into casting and Forging manufacturing industry.
Non-Ferrous
Scrap: This
includes all base metal scrap like Copper, Brass, Lead, Aluminium, Manganese
Sheets. These act as raw material for the manufacturing industry of Pure Non -
Ferrous Metals and Alloys.
Different combination of these metals are used to manufacture an Alloy as per the requirement of their customers.
Import
Countries: Africa, Europe, Middle East,
South America and USA
Export Countries: India, Bangladesh, Pakistan, China, Indonesia, Taiwan,
Vietnam, Thailand, Korea, Malaysia and Sri Lanka
Subject has a
workforce of 5 employees.
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 Revenue UAE Dh 13,820,000 UAE Dh 14,365,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
HSBC
Bank Middle East
Bur Dubai
Dubai
Tel: (971-4) 2535000
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 |
|
UK Pound |
1 |
Rs.99.35 |
|
Euro |
1 |
Rs.80.62 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 |
-- |
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.