MIRA INFORM REPORT

Report No. :	486067
Report Date :	17.01.2018

IDENTIFICATION DETAILS

Name :	ZURICH METAL SCRAP TR LLC
Registered Office :	Industrial Area, P O Box: 120369, Sharjah
Country :	United Arab Emirates
Date of Incorporation :	21.11.2017
Legal Form :	Limited Liability Company - LLC
Line of Business :	Import and distribution of scrap ferrous and non-ferrous metals.
No. of Employees :	5

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

NB

Credit Rating	Explanation	Rating Comments
NB	New Business	No recommendation can be done due to business in infancy stage

Status :	New Business
Payment Behaviour :	Unknown
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

Country Name	Previous Rating (30.06.2017)	Current Rating (30.09.2017)
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 from the oil and gas sector to 30%.

Since the discovery of oil in the UAE nearly 60 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.

The UAE’s dependence on oil is a significant long-term challenge. Low oil prices have prompted the UAE to cut expenditures, including on some social programs, but the UAE has sufficient assets in its sovereign investment funds to cover its deficits. The government reduced fuel subsidies in August 2015, and has announced plans to introduce excise and value-added taxes by January 1, 2018. The UAE's strategic plan for the next few years focuses on economic diversification, promoting the UAE as a global trade and tourism hub, developing industry, and creating more job opportunities for nationals through improved education and increased private sector employment.

Source : CIA

COMPANY NAME

ZURICH METAL SCRAP TR LLC

IDENTIFICATION & CONTACT DETAILS
1) Name (s):
Organization Official Name		:	ZURICH METAL SCRAP TR LLC
2) Registered Address:
Address		:	Industrial Area
Town		:	Sharjah
Country		:	United Arab Emirates
PO Box		:	120369
Mobile		:	(971-54) 457239
3) Operational Address & Contact Details:
Address		:	Industrial Area
Town		:	Sharjah
Country		:	United Arab Emirates
PO Box		:	120369
Mobile		:	(971-54) 457239
LEGAL FORM & INCORPORATION (REGISTRATION) DETAILS
Legal Form - Category		:	Limited Liability Company - LLC
Date of Registration		:	21st November 2017
Trade License Number		:	756577
OTHER REGISTRATION/ MEMBERSHIPS
Chamber Membership Number		:	209299
KEY FACTS
Operational Status		:	Normal
Financial Condition		:	Undetermined
Primary Business Activity		:	Distributors of scrap ferrous and non-ferrous metals
Number of Employees		:	5
Capital		:	UAE Dh 150,000
Note:
Engaged in the import and distribution of scrap ferrous and non-ferrous metals.
CAPITAL DETAILS
Issued Capital:
No of Shares			No of Shares		Amount
N/A			N/A		UAE Dh 150,000
Paid Up Capital:
No of Shares			No of Shares		Amount
N/A			N/A		UAE Dh 150,000
FINANCIAL DATA
Subject is a newly formed business and as a result financial information is not currently available.
BANKERS
1	Name			Citibank
	Address			Al Wahda Street
	PO Box			346 Sharjah
	Tel			(971-6) 5722533
	Fax			(971-6) 5373378
SHAREHOLDERS
Sr.No	Name			Nationality
1	Bassam Bilal Sayed Khiri Al Hamdi			Emirati
2	Weld Metal & Alloys FZC			United Arab Emirates
SENIOR MANAGEMENT
Sr.No	Name			Nationality	Designation
1	Bassam Bilal Sayed Khiri Al Hamdi			Emirati	Managing Director
INTERNATIONAL TRADE ACTIVITY MARKETS
Sr.No	Country			Activity
1	Europe			Import
2	Far East			Import
PREMISES
Subject operates from a small suite of offices that are rented and located in the Industrial Area of Sharjah.
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
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	INR 63.76
UK Pound	1	INR 87.91
Euro	1	INR 78.20
UAE DH	1	INR 17.39

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

INFORMATION DETAILS

Analysis Done by :	VIV
Report Prepared by :	NIT

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

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 are as follows:

· Financial condition covering various ratios

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

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