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Report No. : |
320554 |
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Report Date : |
04.05.2015 |
IDENTIFICATION DETAILS
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Name : |
PAN GLOBAL TRADING LLC |
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Registered Office : |
Dr. J S Fernandes
Building, Suite No. 503, Khalid Ibn Al Waleed Street, Al Suq Al Kabir, Bur
Dubai, P O Box: 46016, Dubai |
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Country : |
United Arab Emirates |
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Financials (as on) : |
30.09.2013 |
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Date of Incorporation : |
03.06.1998 |
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Com. Reg. No.: |
51161, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Import and
distribution of ferrous and non-ferrous scrap metals, including heavy and shredded
scrap steel, foundry steel, aluminium, brass, copper and drained battery
scrap. Subject also distributes general foodstuff products, including rice,
pepper, pulses and spices as well as readymade garments. |
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No. of Employees : |
32 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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 |
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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 |
|
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 : PAN GLOBAL
TRADING LLC
Country of Origin : Dubai,
United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date : 3rd
June 1998
Commercial
Registration Number : 51161,
Dubai
Trade Licence
Number : 505792
Chamber Membership
Number : 49860
Issued Capital : UAE Dh
3,000,000
Paid up Capital : UAE Dh
3,000,000
Total Workforce :
32
Activities :
Distributors of scrap metals, general foodstuffs and readymade garments.
Financial Condition : Good
Payments : Nothing
detrimental uncovered
Operating Trend : Steady
Person Interviewed : Manoj Sharma,
Finance Manager
PAN GLOBAL TRADING
LLC
Building : Dr J S Fernandes
Building, Suite No. 503
Street : Khalid Ibn Al Waleed Street
Area : Al Suq Al Kabir, Bur Dubai
PO Box : 46016
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3937955 / 3936118
Facsimile : (971-4) 3938102
Mobile : (971-50) 4595166
Email : info@panglobaltrading.com / panglobal@rediffmail.com
/ msharma@panglobaltrading.com
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Dubai.
Branch Office
(s)
Location Description
·
Al Quoz Industrial Area Rented
warehouse premises
Dubai
Name Nationality Position
·
Anil
Kapur Indian Managing
Director
·
Sanjiv
Malhatoura Indian Director
·
Abhshik
Kapoor Indian Director
·
Amir
Jeet Singh Dheir Indian Director
·
Mohamed Abdullah Abdullah
Al Moor Emirati Director
·
Manoj Sharma - Finance
Manager
Date of Establishment : 3rd
June 1998
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 51161, Dubai
Trade Licence No. : 505792
(Expires 26/05/2015)
Chamber Member No. : 49860
Issued Capital : UAE Dh 3,000,000
Paid up Capital : UAE Dh 3,000,000
·
Mohamed Abdullah Abdullah
Al Moor 51%
·
Anil
Kapur 22%
·
Sanjiv
Malhatoura 20%
·
Abhshik
Kapoor 4%
·
Amir Jeet
Singh Dheir 3%
Activities: Engaged in the import and distribution of
ferrous and non-ferrous scrap metals, including heavy and
shredded scrap steel, foundry
steel, aluminium, brass, copper and drained battery scrap. Subject also
distributes general foodstuff
products, including rice, pepper, pulses and spices as well as readymade
garments.
Import
Countries: Europe, India,
Pakistan, Bangladesh, China, South Africa, United Arab Emirates and the United
States of America.
International
Suppliers:
·
Geca Mines Congo
·
Black Birds 97CC South
Africa
·
Ganpati Enterprises India
· Rishi Impex India
Operating Trend: Steady
Subject has a
workforce of 32 employees.
Financial highlights
provided by local sources are given below:
Currency: United
Arab Emirates Dirham (UAE Dh)
Year
Ending 30/09/11: Year Ending
30/09/12: Year Ending
30/09/13:
Total Sales UAE Dh 756,491,490 UAE Dh 905,635,373 UAE Dh 1,210,756,366
Local sources
consider subject’s financial condition to be Good.
The above figures
were provided by Mr. Manoj Sharma, Finance Manager
·
Habib
Bank Ltd
Murshid Bazaar
PO Box: 888
Dubai
Tel: (971-4) 2221281
Fax: (971-4) 2284631
·
National
Bank of Ras Al Khaimah
PO Box: 1531
Tel: (971-4) 2226291
Fax: (971-4) 2281312
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.63.57 |
|
|
1 |
Rs.97.99 |
|
Euro |
1 |
Rs.70.53 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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|
|
|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
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 |
|
|
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 |
|
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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 |
|
|
<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.