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Report No. : |
335337 |
|
Report Date : |
07.08.2015 |
IDENTIFICATION DETAILS
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Name : |
METAFRIQUE DMCC |
|
|
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Registered Office : |
Unit 2106 Tower BB2, Mazaya Business Avenue, Jumeirah Lakes Towers, PO Box No.: 476203, Dubai |
|
|
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Country : |
United Arab
Emirates |
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Date of Incorporation : |
20.12.2009 |
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|
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Legal Form : |
Limited Liability Company |
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|
|
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Line of Business : |
Subject is
engaged in the import, distribution and recycling of ferrous and non-ferrous
metals. |
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No. of Employees : |
5 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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. 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 and ultimately a $20 billion bailout from the UAE Central Bank and Abu Dhabi-emirate government that was refinanced in March 2014. 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 : METAFRIQUE DMCC
Country of Origin : Dubai,
United Arab Emirates
Legal Form :
Limited Liability Company
Registration Date : 20th
December 2009
DMCC Number : 2210
Trade Licence
Number : 31289
Issued Capital : UAE Dh
300,000
Paid up Capital : UAE Dh
300,000
Total Workforce :
5
Activities :
Distributors and recyclers of ferrous and non-ferrous metals
Financial Condition : Unknown
Payments : Nothing
detrimental uncovered
METAFRIQUE DMCC
Location : Unit 2106 Tower BB2, Mazaya Business Avenue, Jumeirah Lakes Towers
PO Box : 476203
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 4474053
Facsimile : (971-4) 4474064 / 4474054
Mobile : (971-55) 2201143
Email : dubai@metafrique.net / manoj.solanki@metafrique.com
Please note that
subject’s previous address was, 1 Lake Plaza, Plot No. PH2-T2, Jumeirah Lake
Towers, Dubai.
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Dubai.
Name Position
·
Arun
Goswami Managing
Director
·
Shalani Goswami Director
·
Chandran
Kamalan Accountant
·
Lani
Austria Administration
Executive
Date of Establishment : 20th
December 2009
Legal Form :
Limited Liability Company
DMCC No. : 2210
Trade Licence No. : 31289
(Expires 19/12/2016)
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
·
Arun
Goswami
·
Shalani Goswami
·
Inviro
FZC
Suite No. 1408, 1 Lake Plaza, Jumeirah Lakes Towers
PO Box: 476203
Dubai
Tel: (971-4) 4474053
Fax: (971-4) 4474054
·
Meta
Afrique Group
Ikrodu-Shagamu Road, Km 16
Ewe Jagun
Ogun State
Nigeria
·
Metafrique
Pte Ltd
1 North Bridge Road
Singapore
Tel: (65) 97119508
·
Metafrique
Cameroon Sarl
PO Box: 15509
Douala
Cameroon
Tel: (237) 79535121
·
Eastern
Metals Ltd
Issele
Delta State
Nigeria
Tel: (234) 8057291250
·
Metafrique
Gabon
PO Box: 13519
Libreville
Gabon
Tel: (241) 04173614
·
Metafrique
Ghana Ltd
PO Box: 79
Tema
Ghana
Tel: (233) 3548193453
·
Metafrique
PNR
PO Box: 137
Point-e-Noirre
Republic of Congo
Tel: (242) 066744581
·
Bon
Spec Sarl
PO Box: 2363
Nouakchott
Mauritania
Tel: (222) 7191159
·
Metafrique
Benin Sarl
Cotonou
Benin
Tel: (229) 97769212
Activities: Engaged in the import, distribution and
recycling of ferrous and non-ferrous metals.
Import
Countries: Europe and
Africa.
Subject has a
workforce of 5 employees.
Companies
registered in Dubai, 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.
·
HSBC
Bank Middle East
Deira Souk Branch
PO Box: 66
Dubai
Tel: (971-4) 2535000
Unknown
Please note that
the correct name of the subject is “Metafrique DMCC” and not “Metafnque DMCC”.
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.63.76 |
|
UK Pound |
1 |
Rs.99.60 |
|
Euro |
1 |
Rs.69.71 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
VNT |
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 |
|
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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 |
|
|
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.