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Report No. : |
323953 |
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Report Date : |
30.05.2015 |
IDENTIFICATION DETAILS
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Name : |
AL KHAIR METAL TRADING FZC |
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Registered Office : |
Hamriyah Free Zone, PO Box 42257, Sharjah |
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Country : |
United Arab
Emirates |
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Date of Incorporation : |
01.05.2004 |
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Legal Form : |
Free Zone Company |
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Line of Business : |
Engaged in the import and distribution of ferrous and non-ferrous
metals, heavy equipment and machinery. |
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No. of Employees : |
5 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
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 KHAIR METAL TRADING FZC
Country of Origin :
Sharjah, United Arab Emirates
Legal Form :
Free Zone Company - FZC
Registration Date :
1st May 2004
Trade Licence Number :
855
Issued Capital :
UAE Dh 250,000
Paid up Capital :
UAE Dh 250,000
Total Workforce : 5
Activities :
Distributors of ferrous and non ferrous metals, heavy equipment and
machinery
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed :
Mobeen Nour, Director
AL KHAIR METAL TRADING FZC
Registered &
Physical Address
Location : Hamriyah Free
Zone
PO Box :
42257
Town : Sharjah
Country : United Arab Emirates
Telephone : (971-6) 7475453
Facsimile : (971-6)
7426653
Mobile : (971-50) 3637003 / 4770521
Email : ghafco@yahoo.com
Premises
Subject operates from a small suite of offices that are rented and
located in the Hamriyah Free Zone Area of Sharjah.
Name Nationality Position
Nour Mohamed Pakistani Managing Director
Mobeen Nour Pakistani Director
Abdul Sattar Pakistani Director
Date of Establishment : 1st
May 2004
Legal Form : Free Zone Company
- FZC
Trade Licence No. : 855
Issued Capital : UAE Dh 250,000
Paid up Capital : UAE Dh 250,000
Name of Shareholder (s)
Nour Mohamed
Mobeen Nour
Abdul Sattar
Activities: Engaged in the import and distribution of ferrous and non-ferrous
metals, heavy equipment and machinery.
Import Countries: Europe and the Far East
Brand Names: CATERPILLER, MITSUBISHI and KUMATSU
Subject has a workforce of 5 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.
National Bank of Sharjah
Al Boorj Avenue
PO Box: 4
Sharjah
Tel: (971-6) 5547747
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.63.76 |
|
|
1 |
Rs.97.80 |
|
Euro |
1 |
Rs.69.91 |
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 |
|
|
|
>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.