|
Report Date : |
23.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
PAN GULF INTERNATIONAL GENERAL TRADING LLC (PGI) |
|
|
|
|
Registered Office : |
Plot No. 44,
Street No. 25, Industrial Area No. 10, 7067 Sharjah |
|
|
|
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Country : |
United Arab Emirates |
|
|
|
|
Financials (as on) : |
31.12.2013 |
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|
|
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Date of Incorporation : |
01.0301997 |
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|
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Com. Reg. No.: |
29739, Sharjah |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Engaged in the
import and distribution of scrap metals, ferrous and
non-ferrous metals. |
|
|
|
|
No. of Employees |
105 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No complaints |
|
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 : PAN GULF INTERNATIONAL GENERAL
TRADING LLC (PGI)
Country of Origin : Sharjah, United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date : 1st
March 1997
Commercial Registration
Number : 29739, Sharjah
Trade Licence Number :
122617
Chamber Membership
Number : 40411
Issued Capital : UAE Dh
3,000,000
Paid up Capital : UAE Dh
3,000,000
Total Workforce : 105
Activities :
Distributors of scrap metals, ferrous and non-ferrous
metals.
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Mrs Shilpa Gupta, Financial Controller
PAN GULF
INTERNATIONAL GENERAL TRADING LLC (PGI)
Street : Plot No. 44, Street No. 25
Location : Industrial Area No. 10
PO Box : 7067
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 5346454
Facsimile : (971-6) 5346414
Mobile : (971-55) 7434752
Email : pgi@emirates.net.ae / anshul_steel@hotmail.com
Subject operates
from a medium sized suite of offices and a warehouse that are rented and
located in the Industrial Area of Sharjah.
Name Nationality Position
·
Anshul Gupta Indian Managing
Director
·
Ram Autar Gupta Indian Director
·
Jassim Mohamed Emirati Director
·
Mrs Shilpa Gupta - Financial Controller
·
Samuel Mathew - Commercial
Manager
·
Kozima Mohamed - Public
Relations Manager
Date of Establishment : 1st
March 1997
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 29739, Sharjah
Trade Licence No. : 122617
Chamber Member No. : 40411
Issued Capital : UAE Dh 3,000,000
Paid up Capital : UAE Dh 3,000,000
·
Jassim Mohamed 51%
·
Anshul Gupta 25%
·
Ram Autar Gupta 24%
·
Shanghai
Gulf Metal Trading LLC
Industrial Area No. 10
PO Box: 7067
Sharjah
Tel: (971-6) 5346454
· R L
Steels & Energy Ltd
Gut No 78-81, Pangra Shivar, Chitegaon
Aurangabad 431107
India
Tel: (91-2431) 251453 / 251163
Fax: (91-2431) 251879
·
Akar Tools
Ltd
Gut No 24, 25.Chitegaon, Paithan Road
Aurangabad
India
Tel: (91-2431) 270304 / 270305
Fax: (91-2431) 251699
Activities: Engaged in the import and distribution of
scrap metals, ferrous and non-ferrous metals.
Import
Countries: South Korea, Tunisia, Thailand, Sweden and the United States of
America.
Operating Trend: Steady
Subject has a
workforce of 105 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 Sales UAE Dh
749,000,000 UAE Dh
756,300,000
Local sources
consider subject’s financial condition to be Good.
The above figures
were provided by Mrs Shilpa Gupta, Financial Controller
·
Emirates
National Bank of Dubai
Baniyas Street
PO Box: 777
Dubai
Tel: (971-4) 2222241
·
Bank of
Baroda
Deira Branch
PO Box: 3162
Dubai
Tel: (971-4) 5531955
Fax: (971-4) 5536962
·
Standard
Chartered Bank
Bur Dubai Branch
PO Box: 999
Dubai
Tel: (971-4) 2520455
·
Habib Bank AG
Zurich
Sheikh Zayed Road
Dubai
Tel: (971-4) 2221281
Fax: (971-4) 2284631
No complaints regarding
subject’s payments have been reported.
Established in
1997, subject is owned and managed by Mr Anshul Gupta and Mr Ram Autar Gupta, who are Indian nationals operating in Sharjah under the local sponsorship of Mr
Jassim Mohamed.
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.58.57 |
|
|
1 |
Rs.98.87 |
|
Euro |
1 |
Rs.80.05 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
PDT |
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.