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Report No. : |
320765 |
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Report Date : |
08.05.2015 |
IDENTIFICATION DETAILS
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Name : |
AL SAHIL AL
MALAKY METAL SCRAP TRADING LLC |
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Registered Office : |
Industrial Area
No. 10, P O Box: 62140, Sharjah |
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Country : |
United Arab
Emirates |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
11.05.2008 |
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Com. Reg. No.: |
6949 |
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Legal Form : |
Limited Liability
Company - LLC |
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Line of Business : |
Import and Distribution
of Scrap, Ferrous and Non-Ferrous Metals. |
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No. of Employees : |
20 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 |
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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, 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 : AL SAHIL
AL MALAKY METAL SCRAP TRADING LLC
Country of Origin : Sharjah,
United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date : 11th
May 2008
Commercial
Registration Number : 6949
Trade Licence
Number : 563378
Chamber Membership
Number : 83785
Issued Capital : UAE Dh
150,000
Paid up Capital : UAE Dh
150,000
Total Workforce : 20
Activities :
Distributors of scrap, ferrous and non-ferrous metals.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Riasat Ali Mohamed, Director
AL SAHIL AL MALAKY
METAL SCRAP TRADING LLC
Location : Industrial Area No. 10
PO Box : 62140
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 5355831
Facsimile : (971-6) 5355831
Mobile : (971-56) 1539997
Email : alwarda1@eim.ae
Subject operates
from a small suite of offices that are rented and located in the Industrial
Area of Sharjah.
Name Nationality Position
·
Hamd Yousef
Hater Zahed Mohamed Emirati Managing
Director
·
Riasat Ali Mohamed Indian Director
Date of Establishment : 11th
May 2008
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 6949
Trade Licence No. : 563378
Chamber Member No. : 83785
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
·
Hamd
Yousef Hater Zahed Mohamed 51%
·
Riasat Ali Mohamed 49%
Activities: Engaged in the import and distribution of
scrap, ferrous and non-ferrous metals.
Import
Countries: Europe and the
Far East
Suppliers:
·
Sharjah
Steel Sharjah
·
Shattaf
Steel Sharjah
Clients:
·
Kalsi Alloys India
·
Ruthra Alloys India
Operating Trend: Steady
Subject has a
workforce of 20 employees.
Financial
highlights provided by local sources are given below:
Currency: United
Arab Emirates Dirham (UAE Dh)
Year Ending
31/12/13: Year Ending
31/12/14:
Total Sales UAE
Dh 37,645,000 UAE Dh
40,000,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Riasat Ali Mohamed,
Director
·
National
Bank of Ras Al Khaimah
Sharjah
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.63.88 |
|
|
1 |
Rs.97.21 |
|
Euro |
1 |
Rs.72.51 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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|
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|
Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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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.