MIRA INFORM REPORT

Report No. :	494326
Report Date :	27.02.2018

IDENTIFICATION DETAILS

Name :	SIMTRA INTERNATIONAL LLC
Registered Office :	The Oberoi Centre, Level 11, Office No. 1102 Business Bay Dubai PO Box 30530
Country :	United Arab Emirates
Financials (as on) :	31.12.2016
Date of Incorporation :	04.09.2012
Com. Reg. No.:	1152823
Legal Form :	Limited Liability Company - LLC
Line of Business :	Subject is engaged in the provision of shipping and transportation of products such as minerals and chemicals
No. of Employees :	12

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

Country Name	Previous Rating (30.09.2017)	Current Rating (31.12.2017)
United Arab Emirates	A2	A2

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	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 2008-09, 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 Government that was refinanced in March 2014.

Dependence on oil, a large expatriate workforce, and growing inflation pressures are significant long-term challenges. Low oil prices have prompted the UAE to take steps to reduce its social spending, including eliminating fuel subsidies in August 2015, but the UAE has sufficient assets to cover its deficits with money from its sovereign investment funds. 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

IDENTIFICATION & CONTACT DETAILS

1) Name (s):
Organization Official Name		:	SIMTRA INTERNATIONAL LLC
2) Registered Address:
Address		:	The Oberoi Centre, Level 11, Office No. 1102 Business Bay
Town		:	Dubai
Country		:	United Arab Emirates
PO Box		:	30530
Phone (s)		:	(971-4) 3741163 / 3888131
Facsimile		:	(971-4) 3888132
Mobile		:	(971-55) 6958896
Email		:	info@simtragroup.com
3) Operational Address & Contact Details:
Address		:	The Oberoi Centre, Level 11, Office No. 1102 Business Bay
Town		:	Dubai
Country		:	United Arab Emirates
PO Box		:	30530
Phone (s)		:	(971-4) 3741163 / 3888131
Facsimile		:	(971-4) 3888132
Mobile		:	(971-55) 6958896
Email		:	info@simtragroup.com
LEGAL FORM & INCORPORATION (REGISTRATION) DETAILS
Legal Form - Category		:	Limited Liability Company - LLC
Date of Registration		:	4th September 2012
Trade License Number		:	675817
Expiry Date		:	09-03-17
Commercial Registration Number		:	1152823, Dubai
OTHER REGISTRATION/ MEMBERSHIPS
Chamber Membership Number		:	209263
KEY FACTS
Operational Status		:	Normal
Financial Condition		:	Fair
Primary Business Activity		:	Providers of shipping and transportation services
Number of Employees		:	12
Capital		:	UAE Dh 300,000
Note:
Engaged in the provision of shipping and transportation of products such as minerals and chemicals Simtra International has one of the major resources for logistics solutions and capable of undertaking Turnkey projects and complete door-to-door packages, delivering the cargoes to the customer's satisfaction. With our complete package, Clients can be relieved from giving different jobs to different parties as same is executed and implemented under one roof when it is assigned to us. Simtra International extends this facility to our existing as well as new clients with a view of assisting them with indirect credit coverage. This helps our clients in increasing the trade volume, execute deals as and when they find an opportunity without being restrained by cash flow problems L/C Financing can be given for full Contract depending upon the nature of the Transaction. Depending upon the client's requirement, we are also geared to take over all aspects of the commercial transactions. Simtra International has entered into Mining investment. We have purchased stake in coal mines in Indonesia and plan to develop own Jetty and Logistics movements. Our onward plan is to stock into various countries having shortage of coal and supply without any delay. We are also looking at other avenues and welcome our customer's suggestion as we are always looking forward for joint venture proposals for operations and investments in Mines.
CAPITAL DETAILS
Issued Capital:
No of Shares			No of Shares	Amount
N/A			N/A	UAE Dh 300,000
Paid Up Capital:
No of Shares			No of Shares	Amount
N/A			N/A	UAE Dh 300,000
FINANCIAL DATA
Financial highlights provided by local sources are given below:
Currency: United Arab Emirates Dirham (UAE Dh)
			Year Ending 31/12/16:
Total Sales			UAE Dh 20,000,000
Local sources consider subject’s financial condition to be Fair.
According to local Commercial Law, only publicly listed companies are required to publish their financial information. Financial information on other legal forms can only be obtained from the companies / businesses directly
BANKERS
• Standard Chartered Bank Unit No. 156, Dubai Mall Lower Ground Level Dubai Tel: (971-4) 5085717 • RAK Bank Dubai Mall, Level 2 Dubai Tel: (971-4) 2130000 • Bank of Baroda Sheikh Khalifa Bin Zayed Road Dubai
SHAREHOLDERS
Sr.No	Name		Nationality	Percentage
1	Ali Hassan Ali Abdullah Sherouk		Emirati	51%
2	Badram Bohobagy Maly		Indian	29%
3	Saleem Jan Mohamed		Indian	20%
Total Shares				100%
Notes to the legal Form
The LLC requires a minimum of two and a maximum of 50 members. The minimum share capital required is UAE Dh 300,000. Shareholders are only liable up to the extent of the value of their shares. This type of company may engage in any form of legitimate business, with the exception of insurance, banking and investment of funds. The company is not obliged to publish its accounts. The participation of non-Emirati in a trade or business in the United Arab Emirates is governed by the Foreign Business Investment Law, which sets capital requirements and requires 51 percent Emirati participation in capital and profits. It is common for the 51 percent to be held by the UAE national on paper only with the foreign partner(s) providing all the capital requirements for the company and paying an annual fee to the local partner.
SENIOR MANAGEMENT
Sr.No	Name		Nationality	Designation
1	Saleem Jan Mohamed		Indian	Managing Director
2	Badram Bohobagy Maly		Indian	Director
3	Ali Hassan Ali Abdullah Sherouk		Emirati	Director
INTERNATIONAL TRADE ACTIVITY MARKETS
Sr.No	Country		Activity
1	Worldwide		Import
2	Worldwide		Export
PREMISES
Subject operates from a small suite of offices that are rented and located in the Central Business Area of Dubai.
PAYMENT
No complaints regarding subject’s payments have been reported.
ADVERSE DATA
Performance Defaults		:	No record found
Payment Defaults		:	No record found
Adverse Press Coverage		:	No record found
Litigations		:	No record found
Former Business Relationships		:	No record found
INVESTIGATOR'S COMMENTS
Person Interviewed : Saleem Jan Mohamed, Managing Director
During the course of this investigation the following sources were consulted: - Internal database - Journals, directories, media & web searches - Local Registry office - Interview with Mr Saleem Jan Mohamed, Managing Director, on 06/04/2017 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	INR 64.66
UK Pound	1	INR 90.65
Euro	1	INR 79.70
UAE DH	1	INR 17.68

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Report Prepared by :

TPT

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