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Report No. : |
325006 |
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Report Date : |
02.06.2015 |
IDENTIFICATION DETAILS
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Name : |
CHOBDAR TRADING
CORPORATION FZE |
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Registered Office : |
Warehouse No. L 8/3, Saif Zone, P O Box: 9419, Sharjah |
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Country : |
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Date of Incorporation : |
27.04.2004 |
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Legal Form : |
Free Zone Establishment - FZE |
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Line of Business : |
Distributors of Flat
Roll Steel Products. |
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No. of Employees : |
10 |
RATING & COMMENTS
|
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 – 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 |
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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 : CHOBDAR TRADING CORPORATION FZE
Country of Origin : Sharjah,
United Arab Emirates
Legal Form :
Free Zone Establishment - FZE
Registration Date : 27th
April 2004
Trade Licence
Number : 02811
Issued Capital : UAE Dh
200,000
Paid up Capital : UAE Dh
200,000
Total Workforce : 10
Activities :
Distributors of flat roll steel products
Financial Condition : Undetermined
Payments : Nothing
detrimental uncovered
Person Interviewed : Tariq Kamal
Chobdar, General Manager
CHOBDAR TRADING
CORPORATION FZE
Building : Warehouse No. L 8/3
Area : Saif Zone
PO Box : 9419
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 7410349
Facsimile : (971-6) 7410349
Mobile : (971-50) 5376649 / 2199497 /
5354094
Email : chobdar@chobdar.com
Subject operates from
a small suite of offices and a warehouse that are rented and located in the
Saif Zone Area of Sharjah.
Branch Office
(s)
Location Description
·
Industrial
Area No. 11 Office
premises
Sharjah
Name Nationality Position
·
Kamal
Chobdar Pakistani Managing
Director
·
Tariq
Kamal Chobdar Pakistani General
Manager
·
Mohamed
Ahmed Chobdar - Sales
Manager
Date of Establishment : 27th
April 2004
Legal Form :
Free Zone Establishment -
FZE
Trade Licence No. : 02811
Issued Capital : UAE Dh 200,000
Paid up Capital : UAE Dh 200,000
·
Kamal
Chobdar 100%
Activities: Engaged in the import and distribution of
flat roll steel products.
Import
Countries: Germany and
China
International Suppliers:
·
Thyssen
Krupp Germany
·
Handan
Steel China
Subject has a
workforce of 10 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.
·
HSBC
Bank Middle East
PO Box: 25
Sharjah
Tel: (971-6) 5537222
Fax: (971-6) 5537880
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.63.61 |
|
|
1 |
Rs.97.27 |
|
Euro |
1 |
Rs.69.63 |
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 |
|
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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 |
|
|
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.