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Report Date : |
26.11.2014 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Plot No. 118, Ground Floor, Industrial Area |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
08.10.1991 |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Subject is engaged in the import and distribution of ferrous and
non-ferrous scrap metals |
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No. of Employees : |
25 |
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 – June 1, 2014
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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UAE |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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
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Source
: CIA |
Company Name :
Country of Origin :
Legal Form : Limited Liability Company - LLC
Registration Date : 8th October 1991
Trade Licence Number : 114609
Chamber Membership Number : 22979
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Total Workforce : 25
Activities : Distributors of ferrous and non-ferrous scrap metals
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed :
K
Building : Plot No.
118, Ground Floor,
Street : Street No.
14
Area : Industrial
Area 2
PO Box : 34475
Town : Sharjah
Country :
Telephone : (971-6) 5332234
Facsimile : (971-6)
5330456
Email : aljab@emirates.net.ae
Subject operates from a medium sized suite of offices that are rented
and located in the Industrial Area of Sharjah.
Name Nationality Position
· Harmeet Singh
Harpjan Singh Indian Managing
Director
· Ali Obaid Saif
Saif Emirati Director
· K
· Barak Sheikh - Sales
Manager
Date of
Establishment : 8th
October 1991
Legal Form : Limited Liability
Company - LLC
Trade Licence No. : 114609
Chamber Member No. : 22979
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
· Ali Obaid Saif
Saif 51%
· Harmeet Singh
Harpjan Singh 49%
Activities: Engaged in the import and distribution of ferrous and non-ferrous scrap
metals.
Import Countries: Europe and the
Operating Trend: Steady
Subject has a workforce of 25 employees.
Financial highlights provided by local sources are given below:
Currency:
Year
Ending 31/12/12: Year
Ending 31/12/13:
Total Sales UAE
Dh 119,888,830 UAE Dh
129,708,203
Local sources consider subject’s financial condition to be Good.
The above figures were provided by Mr K S Kurup, Financial Controller
·
HSBC Bank
PO Box: 25
Sharjah
Tel: (971-6)
5537222
Fax: (971-6)
5537880
No complaints regarding subject’s payments have been reported.
Please note that the subject’s correct name is “Al Jabriah Metals
Trading Ltd” and not “Al Zabriah Metals Trading Ltd”.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.92 |
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1 |
Rs.97.12 |
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Euro |
1 |
Rs.76.93 |
INFORMATION DETAILS
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Analysis Done by
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SUM |
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Report Prepared
by : |
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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 |
-- |
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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.