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Report No. : |
316644 |
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Report Date : |
10.04.2015 |
IDENTIFICATION DETAILS
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Name : |
AL RABIH STEEL
TRADING CO LLC |
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Registered Office : |
Industrial Area No. 11 28377 Sharjah |
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Country : |
United Arab
Emirates |
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Date of Incorporation : |
03.05.2000 |
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Com. Reg. No.: |
60935, Sharjah |
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Legal Form : |
Limited Liability
Company - LLC |
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Line of Business : |
Engaged in the
import and distribution of iron and steel products, including HR coils, MS
plates, angles, channels, joists, beams, wire rods, and steel sheets. |
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No. of Employee : |
20 |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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United Arab
Emirates |
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 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.
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Source
: CIA |
Company Name : AL RABIH
STEEL TRADING CO LLC
Country of Origin : Sharjah,
United Arab Emirates
Legal Form : Limited
Liability Company - LLC
Registration Date : 3rd
May 2000
Commercial
Registration Number : 60935,
Sharjah
Trade Licence
Number : 504523
Chamber Membership
Number : 47579
Issued Capital : UAE Dh
160,000
Paid up Capital : UAE Dh
160,000
Total Workforce : 20
Activities :
Distributors of iron and steel products.
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed : Naresh Mepani,
General Manager
AL RABIH STEEL TRADING CO LLC
Location : Industrial Area No. 11
PO Box : 28377
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 5345033
Facsimile : (971-6) 5345044
Mobile : (971-55) 9853499 / 2176584 /
(971-50) 1519289
Email : info@alrabihsteel.com / alrabihsteel@hotmail.com
Subject operates from
a small suite of offices and a factory that are rented and located in the
Industrial Area of Sharjah.
Name Nationality Position
·
Kanji
Ramji Mepani Indian Managing
Director
·
Madhparia
Jadavji Kamboji Indian Director
·
Mubarak
Hamad Rashid Abdullah Emirati Director
·
Naresh
Mepani Indian General
Manager
Date of Establishment : 3rd
May 2000
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 60935,
Sharjah
Trade Licence No. : 504523
Chamber Member No. : 47579
Issued Capital : UAE Dh 160,000
Paid up Capital : UAE Dh 160,000
·
Mubarak
Hamad Rashid Abdullah 51%
·
Kanji
Ramji Mepani ]
] 49%
·
Madhparia
Jadavji Kamboji ]
Activities: Engaged in the import and distribution of
iron and steel products, including HR coils, MS plates, angles,
channels, joists, beams, wire
rods, and steel sheets.
Import
Countries: Europe and the
Far East.
Subject has a workforce
of 20 employees.
Companies
registered in Sharjah, 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.
·
Citibank
Al Wahda Street
PO Box : 346
Sharjah
Tel : (971-6) 722533
Fax : (971-6) 373378
No complaints
regarding subject’s payments have been reported.
Local sources
report that the subject’s operating history is clear with payment obligations
met in a generally timely manner. The financial position is satisfactory and
the company is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.26 |
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|
1 |
Rs.92.49 |
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Euro |
1 |
Rs.66.99 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
ANK |
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.