MIRA INFORM REPORT

 

 

Report No. :

348928

Report Date :

06.11.2015

 

IDENTIFICATION DETAILS

 

Name :

PAN GLOBAL TRADING LLC

 

 

Registered Office :

Dr J S Fernandes Building, Suite No. 503, Khalid Ibn Al Waleed Street, PO Box 46016, Al Suq Al Kabir, Bur Dubai, Dubai

 

 

Country :

United Arab Emirates

 

 

Financials (as on) :

30.09.2014

 

 

Date of Incorporation :

03.06.1998

 

 

Com. Reg. No.:

51161, Dubai

 

 

Legal Form :

Limited Liability Company - LLC

 

 

Line of Business :

Subject is 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.

 

 

No. of Employee :

35

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Good 

 

 

Payment Behaviour :

Regular

 

 

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 – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

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. The country's free trade zones - offering 100% foreign ownership and zero taxes - are helping to attract foreign investors. The global financial crisis of 2008, 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 economic diversification and creating more job opportunities for nationals through improved education and increased private sector employment.

 

Source : CIA

 

 

SUMMARY

 

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                         : 35

Activities                                               : Distributors of scrap metals, general foodstuffs and readymade garments.

Financial Condition                                : Good

Payments                                             : Regular

Operating Trend                                    : Steady

Person Interviewed                                : Manoj Sharma, Finance Manager

 

COMPANY NAME

 

PAN GLOBAL TRADING LLC

 

 

ADDRESS

 

Registered & Physical Address

 

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 / 4534111

Facsimile          : (971-4) 3938102

Mobile              : (971-50) 4595166

Email                : info@panglobaltrading.com / panglobal@rediffmail.com / msharma@panglobaltrading.com

 

Premises

 

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

 

 

KEY PRINCIPALS

 

     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

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 3rd June 1998

 

Legal Form                  : Limited Liability Company - LLC

 

Commercial Reg. No.   : 51161, Dubai

 

Trade Licence No.        : 505792 (Expires 26/05/2016)

 

Chamber Member No.  : 49860

 

Issued Capital              : UAE Dh 3,000,000

 

Paid up Capital            : UAE Dh 3,000,000

 

Name of Shareholder (s)                                              Percentage

 

·       Mohamed Abdullah Abdullah Al Moor                                         51%

 

·       Anil Kapur                                                                     22%

 

·       Sanjiv Malhatoura                                                          20%

 

·       Abhshik Kapoor                                                               4%

 

·       Amir Jeet Singh Dheir                                                      3%

 

 

OPERATIONS

 

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 35 employees.

 

 

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: United Arab Emirates Dirham (UAE Dh)

 

                                    Year Ending 30/09/12:              Year Ending 30/09/13:              Year Ending 30/09/14:

 

Total Sales                    UAE Dh 905,635,373                 UAE Dh 1,210,756,366               UAE Dh 1,354,650,771

 

Local sources consider subject’s financial condition to be Good.

 

The above figures were provided by Mr Manoj Sharma, Finance Manager

 

 

BANKERS

 

·       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

     Dubai

     Tel: (971-4) 2226291

     Fax: (971-4) 2281312

 

 

PAYMENT HISTORY

 

Regular

 

GENERAL COMMENTS

 

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.65.67

UK Pound

1

Rs.101.02

Euro

1

Rs.71.35

 

INFORMATION DETAILS

 

Analysis Done by :

HEE

 

 

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

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.