MIRA INFORM REPORT

 

 

 

 

Report Date :

28.05.2014

 

IDENTIFICATION DETAILS

 

Name :

AL SAHAM AL FADHI METAL TRADING LLC

 

 

Registered Office :

Industrial Area No. 10, 23094, Sharjah

 

 

Country :

United Arab Emirates

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

10.06.1996

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Distributors of metal products

 

 

No. of Employees :

05

 

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 31st, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

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                                     : AL SAHAM AL FADHI METAL TRADING LLC

Country of Origin                                    : Sharjah, United Arab Emirates

Legal Form                                            : Limited Liability Company - LLC

Registration Date                                   : 10th June 1996

Trade Licence Number                            : 120601

Chamber Membership Number                : 37898

Issued Capital                                        : UAE Dh 450,000

Paid up Capital                                      : UAE Dh 450,000

Total Workforce                                     : 5

Activities                                               : Distributors of metal products

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

 

 

COMPANY NAME

 

AL SAHAM AL FADHI METAL TRADING LLC

 

 

company ADDRESS

 

Registered & Physical Address

Location            : Industrial Area No. 10

PO Box             : 23094

Town                 : Sharjah

Country             : United Arab Emirates

Telephone         : (971-6) 5341563 / 5341385

Facsimile          : (971-6) 5341934 / 5341939

Mobile               : (971-50) 6467838

Email                : asmetal@emirates.net.ae / asfmscrp@emirates.net.ae

 

Premises

Subject operates from a small suite of offices and a warehouse that are rented and located in the Industrial Area of Sharjah.

 

 

KEY PRINCIPALS

 

     Name                                                          Nationality                               Position

·       Salim Hassan Salim Obaid                            Emirati                                      Managing Director

·       Omprakash Lonkaran Daz                              Indian                                        Director

·       Sorandra Joun                                               Indian                                        Director

·       Nareendra Kumar                                          Indian                                        Director

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 10th June 1996

 

Legal Form                  : Limited Liability Company - LLC

 

Trade Licence No.       : 120601 (Expires 07/06/2012)

 

Chamber Member No. : 37898

 

Issued Capital              : UAE Dh 450,000

 

Paid up Capital            : UAE Dh 450,000

 

Name of Shareholder (s)                                          Percentage

 

·       Salim Hassan Salim Obaid                                        51%     

 

·       Omprakash Lonkaran Daz                                          17%

 

·       Sorandra Joun                                                           16%

 

·       Nareendra Kumar                                                      16%

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of metal products, including scrap, ferrous and non ferrous metals.

 

Import Countries: Europe and the Far East

 

Operating Trend: Steady

 

Subject has a workforce of 5 employees.

 

 

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: United Arab Emirates Dirham (UAE Dh)

 

                                                Year Ending 31/12/10:                Year Ending 31/12/11:

 

Total Sales                                UAE Dh 12,440,000                   UAE Dh 13,125,000

 

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

 

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

 

 

BANKERS

 

·       National Bank of Sharjah

Al Boorj Avenue

     PO Box: 4

     Sharjah

Tel: (971-6) 5547747

 

 

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.59.05

UK Pound

1

Rs.99.61

Euro

1

Rs.80.60

 

INFORMATION DETAILS

 

Report Prepared by :

DPT

 

 

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