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Report Date : |
25.09.2014 |
IDENTIFICATION DETAILS
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Name : |
STELCOR MIDDLE |
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Registered Office : |
/A, 5th Floor, Tower No.1, Rakia Amenity Center, Rakia Free
Zone, Al Jazeera Al Hamra PO Box 31291, Ras Al Khaimah |
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Country : |
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Date of Incorporation : |
01.02.2010 |
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Legal Form : |
Free Zone Limited Liability Company |
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Line of Business : |
Subject is engaged in the import and distribution of ferro manganese,
ferro chrome, quartz lumps and other quality minerals. |
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No of Employees : |
5 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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) |
|
|
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
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 :
STELCOR MIDDLE
Country of Origin :
Ras Al Khaimah,
Legal Form :
Free Zone Limited Liability Company – FZ LLC
Registration Date :
1st February 2010
Trade Licence Number :
RAKIA 52FZ302102538
Issued Capital :
US$ 500,000
Paid up Capital :
US$ 500,000
Total Workforce :
5
Activities :
Distributors of ferro manganese, ferro chrome, quartz lumps and other
quality
minerals
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed :
Usman Javid, Managing Director
STELCOR MIDDLE
Registered &
Physical Address
Building : 3/A, 5th
Floor, Tower No.1,
Area : Rakia Free
Zone, Al Jazeera Al Hamra
PO Box : 31291
Town : Ras Al
Khaimah
Country :
Telephone : (971-7) 2433583
Facsimile : (971-7)
2433584
Email : export@stelcoruae.com
/ usmanj@stelcoruae.com
Premises
Subject operates from a small suite of offices that are rented and
located in the Free Zone Area of Ras Al Khaimah.
Name Nationality Position
Usman Javid Pakistani Managing
Director
Ali Abdullah Pakistani Director
Mohamed Omar Javid Pakistani Director
Adnan Ali - Sales
Manager
Date of Establishment : 1st
February 2010
Legal Form :
Free
Zone Limited Liability Company – FZ LLC
Trade Licence No. : RAKIA 52FZ302102538 (Expires 31/01/2015)
Issued Capital : US$ 500,000
Paid up Capital :
US$
500,000
Name of
Shareholder (s) Percentage
Usman Javid 50%
Ali Abdullah 25%
Mohamed Omar Javid 25%
Activities: Engaged in the import and distribution of ferro manganese, ferro
chrome, quartz lumps and other quality minerals.
Import Countries: Europe and the Far East.
Subject has a workforce of 5 employees.
Companies registered in Ras Al Khaimah, United Arab Emirates are not
legally required to make their accounts public and no financial information was
released by the company or submitted by outside sources.
National Bank of Ras Al Khaimah
NBRAK Building
PO Box: 5300
Ras Al Khaimah
Tel: (971-7) 2221127
Fax: (971-7) 2224202
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.61.03 |
|
|
1 |
Rs.99.99 |
|
Euro |
1 |
Rs.78.37 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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|
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Report Prepared
by : |
TPT |
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.