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Report No. : |
347527 |
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Report Date : |
30.10.2015 |
IDENTIFICATION DETAILS
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Name : |
SHARIF METAL INTERNATIONAL DMCC |
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Registered Office : |
AG Tower, Jumeirah Lakes Towers, 31803, Dubai |
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Country : |
United Arab
Emirates |
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Date of Incorporation : |
08.06.2008 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Subject is engaged in the import and export
of ferrous and non-ferrous metals. |
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No. of Employees : |
10 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 |
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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 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 : SHARIF METAL INTERNATIONAL DMCC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company
Registration Date : 8th June 2008
Trade Licence Number : 30880
Chamber Membership Number : 1099
Issued Capital : UAE Dh 200,000
Paid up Capital : UAE Dh 200,000
Total Workforce : 10
Activities : Import and export of ferrous and non-ferrous metals
Financial Condition : Undetermined
Payments :
Unknown
Person Interviewed : Abdul Rashid, Financial Controller
SHARIF METAL INTERNATIONAL DMCC
PO Box :
31803
Town :
Dubai
Country : United Arab
Emirates
Telephone :
(971-4) 3609221
Location :
Industrial Area No. 2
PO Box :
3931
Town :
Sharjah
Country : United Arab
Emirates
Telephone :
(971-6) 5330357
Facsimile :
(971-6) 5327531
Mobile :
(971-52) 9091800 / (971-55) 6096078
Email : munir@sharifmetals.com
/ info@sharifmetals.com
/ accounts@sharifmetals.com
Subject operates from a small suite of offices and a
warehouse that are rented and located in the Industrial Area of Sharjah.
Name Nationality Position
· Abdul
Salam Mahmoud Abdul Salam Al Shareef Jordanian Managing Director
· Munir
Mahmoud Abdul Salam Al Shareef Jordanian Director
· Abdul
Rashid - Financial
Controller
· Guru Raj - Assistant Financial Controller
Date
of Establishment : 8th
June 2008
Legal
Form : Limited
Liability Company
Trade
Licence No. : 30880
(Expires 07/06/2015)
Chamber
Member No. : 1099
Issued Capital : UAE
Dh 200,000
Paid up Capital :
UAE Dh 200,000
· Abdul
Salam Mahmoud Abdul Salam Al Shareef
· Munir
Mahmoud Abdul Salam Al Shareef
· Sharif
Metals International LLC
Industrial
Area No. 2
PO Box:
3931
Sharjah
Tel:
(971-6) 5330357
Fax:
(971-6) 5327531
Activities: Engaged in the import and export of
ferrous and non-ferrous metals.
Import Countries: Saudi Arabia, China and India.
International
Suppliers:
· Nesma
Recycling Saudi Arabia
· Al
Qurayan Group Saudi Arabia
· Dong
Yung Faung China
· Jindal
Steel India
Subject has a workforce of 10 employees.
Companies registered in Dubai, 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.
·
Commercial Bank of Dubai
Baniyas
Street
Deira
PO
Box: 1709
Dubai
Tel:
(971-4) 2227121 / 2253222
Fax:
(971-4) 2220943 / 2254565
Unknown
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.65.15 |
|
UK Pound |
1 |
Rs.99.36 |
|
Euro |
1 |
Rs.71.25 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
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|
|
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Report Prepared
by : |
TRU |
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 |
|
|
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 |
-- |
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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.