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Report No. : |
301433 |
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Report Date : |
06.01.2015 |
IDENTIFICATION DETAILS
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Name : |
GTS VENTURE TRADE
LLC |
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|
|
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Registered Office : |
Al Habbai
Building, Suite No. 201, Port Saeed, Deira, P O Box 84694 & 231654, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
02.07.2008 |
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Com. Reg. No.: |
1031521, Dubai |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Engaged in the import and distribution of commodities
such as Coal, Met Coke, Chrome Ore, DRI and HBI also Scrap Ferrous and
Non-Ferrous Metals. |
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|
|
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No of Employees : |
05 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
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 : GTS VENTURE TRADE LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 2nd July 2008
Commercial Registration Number : 1031521, Dubai
Trade Licence Number : 613301
Chamber Membership Number : 143138
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 5
Activities : Distributors of commodities such as coal, met coke, chrome ore, DRI
and HBI also scrap ferrous and non ferrous metals.
Financial Condition : Undetermined
Payments : Unknown
Person Interviewed : Loraina Maria, Accounts Executive
GTS VENTURE TRADE LLC
Registered &
Physical Address
Building : Al Habbai Building,
Suite No. 201
Area : Port Saeed, Deira
PO Box : 84694 & 231654
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2944430 / 2944466
Facsimile : (971-4) 2944435 / 2944467
Mobile : (971-55) 4566990
Email : info@gtsventure.com / shahzad@gtsventure.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Dubai.
Name Nationality Position
·
Zahed
Manzoor Ahmed Pakistani Managing
Director
·
Obaid
Saeed Mubarak Al Suwaidi Emirati Director
·
Loraina
Maria - Accounts
Executive
Date of Establishment : 2nd
July 2008
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 1031521,
Dubai
Trade Licence No. : 613301
(Expires 01/07/2015)
Chamber Member No. : 143138
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder
(s) Percentage
·
Obaid
Saeed Mubarak Al Suwaidi 51%
·
Zahed
Manzoor Ahmed 49%
·
Noble
Maritime Investments LLC
Dubai
·
Noble-GTS
Energy FZE
Dubai
·
Chun on
Shipping & Navigation LLC
Dubai
·
Noble
International Transport LLC
Dubai
·
MSS ME
India
Activities: Engaged in the import and distribution of
commodities such as coal, met coke, chrome ore, DRI and HBI also scrap ferrous and
non-ferrous metals.
Import
Countries: Europe and the
Far East
Suppliers:
·
Emirates Steel Industries Dubai
·
Punjab Metals LLC Sharjah
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.
·
Arab
Bank Plc
Ittihad Street
PO Box: 11364
Dubai
Tel: (971-4) 2228845
Fax: (971-4) 2285974 / 2940847
Unknown
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.63.39 |
|
|
1 |
Rs.96.85 |
|
Euro |
1 |
Rs.75.67 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
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Report Prepared
by : |
MNL |
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.