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Report Date : |
26.11.2014 |
IDENTIFICATION DETAILS
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Name : |
METAL AND STEEL SOLUTIONS FZC |
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Registered Office : |
Hamriyah Free Zone, LOB E57G-14, 41840, Sharjah |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
01.04.2006 |
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Legal Form : |
Free Zone Company - FZC |
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Line of Business : |
Engaged in the import and distribution of steel and metal materials. |
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No of Employees : |
8 |
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
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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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 |
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
|
Source
: CIA |
Company Name : METAL AND STEEL SOLUTIONS FZC
Country of Origin :
Legal Form : Free Zone Company - FZC
Registration Date : 1st April 2006
Trade Licence Number : 1849
Issued Capital : UAE Dh 100,000
Paid up Capital : UAE Dh 100,000
Total Workforce : 8
Activities : Distributors of steel and metal materials.
Financial Condition : Good
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Mangelal Sunil Agrawal, Managing Director
METAL AND STEEL SOLUTIONS FZC
Location : Hamriyah Free
Zone, LOB E57G-14
PO Box : 41840
Town : Sharjah
Country :
Telephone : (971-6) 5262559
Facsimile : (971-6)
5262849
Building : Al
Street :
Area : Deira
PO Box : 22219
Town :
Country :
Telephone : (971-4) 2296044
Facsimile : (971-4)
2296042
Email : steelmet@eim.ae
/ info@metalandsteel.ae
Please note that subject’s previous address was,
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Dubai.
Name Nationality Position
· Mangelal Sunil Agrawal Indian Managing
Director
· Noupur Agrawal Indian Director
· Raj Kumar - Financial
Controller
Date of
Establishment : 1st
April 2006
Legal Form : Free Zone Company
- FZC
Trade Licence No. : 1849 (Expires 14/04/2015)
Issued Capital : UAE Dh 100,000
Paid up Capital : UAE Dh 100,000
· Mangelal Sunil Agrawal
· Noupur Agrawal
Activities: Engaged in the import and distribution of steel and metal materials.
Import Countries:
Operating Trend: Steady
Subject has a workforce of 8 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 228,500,000 UAE Dh
240,000,000
Local sources consider subject’s financial condition to be Good.
The above figures were provided by Mr Mangelal Sunil
Agrawal, Managing Director
·
Habib Bank Ltd
Trade Service
Centre
Murshid Bazaar
PO Box: 888
Tel: (971-4)
2221281
Fax: (971-4)
2284631
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
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Currency |
Unit
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Indian Rupees |
|
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
: |
DIV |
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Report Prepared
by : |
SMN |
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.