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Report No. : |
315682 |
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Report Date : |
07.04.2015 |
IDENTIFICATION DETAILS
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Name : |
ANJALI METAL
MATERIALS TRADING LLC |
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|
|
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Registered Office : |
Al Fahidi Building No. 2, 5th Floor, Office No. 502, Al
Mankhool Street, Deira, P O Box:
49870, Dubai |
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Country : |
United Arab Emirates |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
18.02.2013 |
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Com. Reg. No.: |
61792, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Import and
Distribution of Scrap and Waste Metals. |
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No. of Employees : |
50 |
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 |
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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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 |
Company Name : ANJALI
METAL MATERIALS TRADING LLC
Country of Origin : Dubai,
United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 18th
February 2003
Commercial
Registration Number : 61792,
Dubai
Trade Licence
Number : 542155
Chamber Membership
Number : 75415
Issued Capital : UAE Dh
300,000
Paid up Capital : UAE Dh
300,000
Total Workforce : 50
Activities :
Import and distribution of scrap and waste metals
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Rama Durai,
Finance Manager
ANJALI METAL
MATERIALS TRADING LLC
Building : Al Fahidi Building No. 2, 5th
Floor, Office No. 502
Street : Al Mankhool
Street
Area : Deira
PO Box : 49870
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3511222 / 3511464
Facsimile : (971-4) 3511200 / 3511465
Mobile : (971-50)
6256136 / 2185152
/ 4529356
Email : sanjeev@indicaa.ae / amdcdubai@yahoo.com / indicaa@indicaa.com
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Dubai.
Name Nationality Position
·
Sanjeev
Garg Gulab Chand Indian Managing
Director
·
Juma
Abdul Rahman Al Matroushi Emirati Director
·
Geral
Fernandes - Marketing
Manager
·
Rama
Durai - Finance
Manager
Date of Establishment : 18th
February 2003
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 61792, Dubai
Trade Licence No. : 542155
(Expires 15/02/2016)
Chamber Member No. : 75415
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
·
Juma
Abdul Rahman Al Matroushi 51%
·
Sanjeev
Garg Gulab Chand 49%
·
Indicaa
Group Ltd
Jebel Ali Free Zone
Dubai
Tel: (971-4) 8817817
Fax: (971-4) 8818826
Activities: Engaged in the import and distribution of
scrap and waste metals.
Import
Countries: Europe and GCC
countries
Operating Trend: Steady
Subject has a
workforce of 50 employees.
Financial highlights
provided by local sources are given below:
Currency: United
Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/13: Year Ending
31/12/14:
Total Sales UAE Dh
51,700,000 UAE Dh
55,000,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Rama Durai, Finance Manager
·
Bank of
Baroda
PO Box: 3162
Dubai
Tel: (971-4) 5531955
Fax: (971-4) 5536962
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.62.16 |
|
|
1 |
Rs.92.73 |
|
Euro |
1 |
Rs.68.23 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NIT |
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.