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Report No. : |
343249 |
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Report Date : |
02.10.2015 |
IDENTIFICATION DETAILS
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Name : |
S S L STEEL &
BASIC STEEL TRADING LLC |
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Registered Office : |
Salah Eddine Al Ayoubi Street, Abu Hail, P O Box: 41033, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
07.04.2015 |
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Com. Reg. No.: |
1189950, Dubai |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Import and
Distribution of Steel and Basic Steel Products. |
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No. of Employees : |
20 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
|
-- |
NB |
New Business |
-- |
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Status : |
New Business |
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Payment Behaviour : |
Unknown |
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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 – 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 |
Company Name : S S L
STEEL & BASIC STEEL TRADING LLC
Also Known As : S S
LOOTAH STEEL
Country of Origin : Dubai, United
Arab Emirates
Legal Form :
Limited Liability Company – LLC
Registration Date : 7th
April 2015
Commercial
Registration Number : 1189950,
Dubai
Trade Licence
Number : 731334
Chamber Membership
Number : 250731
Issued Capital : UAE Dh
300,000
Paid up Capital : UAE Dh
300,000
Total Workforce : 20
Activities :
Distributors of steel and basic steel products.
Financial Condition : Undetermined
Payments :
Unknown
Person Interviewed : Fadi Mohamed,
Administration Manager
S S L STEEL &
BASIC STEEL TRADING LLC
S S LOOTAH STEEL
Street : Salah Eddine Al Ayoubi Street
Area : Abu Hail
PO Box : 41033
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2099695 / 2977741
Facsimile : (971-4) 2977742
Mobile : (971-50) 2828092
Email : info@sslootahsteel.com
Subject operates from
a small suite of offices that are rented and located in the Central Business
Area of Dubai.
Name Nationality Position
·
Yousef
Saeed Ahmed Al Lootah Emirati Managing
Director
·
Seroush
Pour Bahgdsrian Iranian Director
·
Fadi
Mohamed - Administration
Manager
Date of Establishment : 7th
April 2015
Legal Form :
Limited Liability Company –
LLC
Commercial Reg. No. : 1189950,
Dubai
Trade Licence No. : 731334
(Expires 06/04/2016)
Chamber Member No. : 250731
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
·
S S
Lootah International
Dubai
·
Yousef
Saeed Ahmed Al Lootah
· Seroush Pour Bahgdsrian
·
S S
Lootah Contracting Company
·
S S
Lootah Trading Est
·
S S
Lootah Ready Mix Concrete
·
S S
Lootah Foundations
·
Material
Lab Dubai
·
Lootah
Vanbots
·
The
State Group International
·
Powerline
Plus
·
S S
Lootah Real Estate
·
Tas
Design Build
·
Financial
Consultancy Services
·
Lootah BC
Gas
·
Q
Energy Natural Gas Infrastructure
·
International
Energy Group
·
Al
Islami Foods
·
NCK
·
TROW
·
ZAS/PSE
·
Home
Gallery
·
Jawhara
Hotels
·
Fraunhofer
Middle East
·
Lootah
IT Solutions
·
Audentia
·
Dubai
Medical College
·
Dubai
Pharmacy College
·
Islamic
School for Training and Education
·
The
Technical Institute
Activities: Engaged in the import and distribution of
steel and basic steel products.
Import
Countries: Europe and the
Far East.
Subject has a
workforce of 20 employees.
Subject is a newly
formed business and as a result financial information is not currently
available.
·
Emirates
National Bank of Dubai
Baniyas Street
PO Box: 777
Dubai
Tel: (971-4) 2222555
Fax: (971-4) 2221110
Unknown
In view of
subject’s infancy, extensive payment and financial are not available, therefore
dealings are recommended to be on secured terms, and a close monitoring of
subject’s business development is advisable.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.74 |
|
|
1 |
Rs.99.53 |
|
Euro |
1 |
Rs.73.80 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
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 |
|
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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 |
|
|
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.