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Report No. : |
314673 |
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Report Date : |
31.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
GHANTOOT SCRAP CO
LLC |
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|
|
|
Registered Office : |
Industrial Area No. 10, P O Box: 36241, Sharjah |
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|
|
|
Country : |
United Arab Emirates |
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Date of Incorporation : |
04.06.1981 |
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|
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Legal Form : |
Limited Liability Company - LLC |
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|
|
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Line of Business : |
Import and
Distributors of Scrap Metals. |
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|
|
|
No. of Employees : |
12 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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|
|
Payment Behaviour : |
Unknown |
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|
|
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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 |
|
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 : GHANTOOT
SCRAP CO LLC
Country of Origin : Sharjah,
United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date : 4th
June 1981
Trade Licence
Number : 15818
Chamber Membership
Number : 8262
Issued Capital : UAE Dh
150,000
Paid up Capital :
UAE Dh 150,000
Total Workforce : 12
Activities :
Distributors of scrap metals
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed : Sheikh Ullah
Jafar, Accountant
GHANTOOT SCRAP CO
LLC
Location : Industrial Area No. 10
PO Box : 36241
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 5354159
Facsimile : (971-6) 5354162
Mobile : (971-50) 3146041 / 8988940
Email : mm_shaukat@hotmail.com
Subject operates
from a small suite of offices that are rented and located in the Industrial
Area of Sharjah.
Name Nationality Position
·
Ahmed Yousef
Saleh Al Abodi Emirati Managing
Director
·
Shaukat
Mohamed Mirza Indian Director
·
Navid
Mohamed Shaukat Indian Director
·
Sheikh
Ullah Jafar - Accountant
Date of Establishment : 4th
June 1981
Legal Form :
Limited Liability Company -
LLC
Trade Licence No. : 15818
Chamber Member No. : 8262
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
·
Ahmed
Yousef Saleh Al Abodi 51%
·
Shaukat
Mohamed Mirza 25%
·
Navid
Mohamed Shaukat 24%
·
Ghantoot
Metal Trading LLC
Sharjah
Tel: (971-6) 5351982
Fax: (971-6) 5351981
Lic No. 546979
·
Wadi
Ghantoot Metal Industrial LLC
Sharjah
Activities: Engaged in the import and distribution of
scrap metals.
Import
Countries: Europe and the
Far East.
Subject has a
workforce of 12 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.
·
Standard
Chartered Bank
Al Boorj Avenue
PO Box: 5
Sharjah
Tel: (971-6) 5357788
Fax: (971-6) 5543604
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.62.63 |
|
|
1 |
Rs.92.94 |
|
Euro |
1 |
Rs.68.06 |
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 |
|
|
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.