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Report No. : |
352370 |
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Report Date : |
04.12.2015 |
IDENTIFICATION DETAILS
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Name : |
ALA INTERNATIONAL METALS TRADING LLC |
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Formerly Known As : |
ALA INTERNATIONAL METAL SCRAP TRADING LLC |
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Registered Office : |
Industrial Area No. 10, PO Box 41199, Sharjah |
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Country : |
United
Arab Emirates |
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Date of Incorporation : |
13.08.2002 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Engaged in the import and distribution of ferrous and non-ferrous
scrap metals. |
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No. of Employees : |
25 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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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. The
country's free trade zones - offering 100% foreign ownership and zero taxes -
are helping to attract foreign investors. The global financial crisis of 2008,
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 economic diversification and creating more job opportunities for nationals
through improved education and increased private sector employment.
|
Source
: CIA |
Company Name :
ALA INTERNATIONAL METALS TRADING LLC
Previously Known As :
ALA INTERNATIONAL METAL SCRAP TRADING LLC
Country of Origin :
Sharjah, United Arab Emirates
Legal Form :
Limited Liability Company – LLC
Start Date :
13th August 2002
Registration Date :
20th January 2013
Trade Licence Number :
626218
Chamber Membership Number :
106078
Issued Capital : UAE Dh
300,000
Paid up Capital :
UAE Dh 300,000
Total Workforce :
25
Activities :
Distributors of ferrous and non-ferrous scrap metals
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
ALA INTERNATIONAL METALS TRADING LLC
ALA
INTERNATIONAL METAL SCRAP TRADING LLC
Registered &
Physical Address
Location : Industrial
Area No. 10
PO Box : 41199
Town : Sharjah
Country : United Arab
Emirates
Telephone : (971-6) 5350011
Facsimile : (971-6)
5352212
Mobile : (971-55)
2294446
Email : fin.opt@alametals.com
/ info@alametals.com
Premises
Subject operates from a medium sized suite of offices that are rented
and located in the Industrial Area of Sharjah.
Name Nationality Position
Muzamil Haji Amin Gadawal Indian Managing
Director
Sahem Haji Amin Gadawal Indian Director
Ihsan Haji Amin Gadawal Indian Director
Bashar Haji Amin Gadawal Indian Director
Mohamed Khalifa Mohamed Salem Al Khairi Al Kharousi Emirati Director
Date of Establishment : 13th
August 2002
History : Subject began in
August 2002 under the name “Ala International Metal Scrap Trading
LLC”. However on 20th January
2013 it re-registered under the name “Ala International Metals Trading LLC”.
Legal Form : Limited Liability
Company - LLC
Trade Licence No. : 626218 (Expires
15/12/2015)
Chamber Member No. : 106078
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of
Shareholder (s) Percentage
Mohamed Khalifa Mohamed Salem Al Khairi Al Kharousi 51%
Muzamil Haji Amin Gadawal ]
]
Sahem Haji Amin Gadawal ]
] 49%
Ihsan Haji Amin Gadawal ]
]
Bashar Haji Amin Gadawal ]
Ala Metal LLC
Block B, 9th Floor, Suite 925, Business Village
Port Saeed
Dubai
PO Box: 66688
Dubai
Tel: (971-4) 2999199
Fax: (971-4) 2999009
Activities: Engaged in the import and distribution of ferrous and non-ferrous scrap
metals.
Import Countries: Europe and the Far East
Subject has a workforce of 25 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.
Sharjah Islamic Bank
Al Boorj Avenue
PO Box: 4
Sharjah
Tel: (971-6) 5547747
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.66.75 |
|
|
1 |
Rs.99.61 |
|
Euro |
1 |
Rs.70.67 |
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UAE Dirham |
1 |
Rs.18.23 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
TPT |
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 |
-- |
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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.