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Report No. : |
339951 |
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Report Date : |
10.09.2015 |
IDENTIFICATION DETAILS
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Name : |
JEBAL AL PANJAB METAL SCRAP TRADING LLC |
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|
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Registered Office : |
Industrial Area No. 2, PO Box : 5241 Sharjah |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
03.04.2007 |
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Legal Form : |
Limited Liability Company – LLC |
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Line of Business : |
Distributors of scrap ferrous and non-ferrous metals |
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No. of Employee : |
13 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
|
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 |
|
Very High |
C1 |
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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 :
JEBAL AL PANJAB METAL SCRAP TRADING LLC
Country of Origin : Sharjah, United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date : 3rd April 2007
Trade Licence Number : 508558
Chamber Membership Number : 50546
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Total Workforce : 13
Activities :
Distributors of scrap ferrous and non-ferrous metals
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
Person Interviewed : Mohamed Amer, General Manager
JEBAL AL PANJAB METAL SCRAP TRADING LLC
Registered
& Physical Address
Location :
Industrial Area No. 2
PO Box :
5241
Town :
Sharjah
Country :
United Arab Emirates
Telephone :
(971-6) 5339322
Facsimile :
(971-6) 5339322
Mobile :
(971-52) 9483608 / (971-55) 1974709
Email :
jpmetal.trd@gmail.com
Premises
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
Sameeullah Mohamed Ayar Pakistani Managing Director
Amar Ahmed Salem Al Souki Emirati Director
Mohamed Amer - General
Manager
Date of
Establishment : 3rd April
2007
Legal Form : Limited Liability
Company - LLC
Trade Licence No. : 508558
Chamber Member No. : 50546
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Name
of Shareholder (s) Percentage
Amar Ahmed Salem Al Souki 51%
Sameeullah Mohamed Ayar 49%
Activities: Engaged import
and distribution of scrap ferrous and non-ferrous metals.
Import Countries: Europe and GCC
countries.
Suppliers:
Najmat Dubai Scrap Metal Sharjah
Al Mansouri Scarp Metal Bahrain
Clients:
Shareef Metal Sharjah
Shar Metal Sharjah
Subject has a workforce of 13 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.
Sharjah Islamic Bank
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.66.29 |
|
|
1 |
Rs.101.89 |
|
Euro |
1 |
Rs.73.98 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SDA |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.