MIRA INFORM REPORT

Report No. :	512460
Report Date :	01.06.2018

IDENTIFICATION DETAILS

Name :	NOORZAD TRADING FZE
Registered Office :	ELOB Office E-25, F-07, Hamriyah Free Zone, PO Box 51416 Sharjah,
Country :	United Arab Emirates.
Date of Incorporation :	05.07.2017
Com. Reg. No.:	16129
Legal Form :	Free Zone Establishment
Line of Business :	Agents involved in the sale of fuels, ores, metals and industrial chemicals
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 (30.09.2017)	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 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, although the UAE is one of the most diversified countries in the Gulf Cooperation Council. 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

SUMMARY

COMPANY NAME	NOORZAD TRADING FZE
ADDRESS	Building	Area			City			PO Box
	ELOB Office E-25, F-07	Hamriyah Free Zone			Sharjah			51416 Sharjah & 49236 Dubai
TEL/FAX	Verified Phones: (+971 4) 250 3034 / Fax: (+971 4) 250 3150
EMAIL/WEBSITE	Email: basirnoorzad@gmail.com / Website: www.noorzadpetrochem.com
ACTIVITY	NACE 4612 - Agents involved in the sale of fuels, ores, metals and industrial chemicals;
PRINCIPAL	Basir Ahmad					Workforce
	General Manager / Owner					5
LEGAL INFO	Date Of Est.		Reg. No.	Legal Form			Status
	05/07/2017		16129	Free Zone Establishment			Active
CAPITAL	CURRENCY			AMOUNT
	AED			150,000

IDENTIFICATION
CO. NAME	NOORZAD TRADING FZE
BUILDING	ELOB Office E-25, F-07
AREA	Hamriyah Free Zone
POSTAL ADDRESS	51416 Sharjah & 49236 Dubai
CITY	Sharjah
COUNTRY	United Arab Emirates
TELEPHONE	(+971 4) 250 3034 / Mobile (+971 52) 794 1010 / (+971 52) 993 5108 / (+971 52) 993 5106
FAX	(+971 4) 250 3150
VERIFIED EMAIL	basirnoorzad@gmail.com
WEBSITE	www.noorzadpetrochem.com
BUSINESS HOURS (DURING RAMADAN)	DAYS	OFFICE HOURS	BREAK TIME
	Sun-Thu	09:00-15:00	Without Break
REGISTERED ADDRESS	ELOB Office E-25, F-07, Hamriyah Free Zone, PO Box 51416 Sharjah, United Arab Emirates.
ADDITIONAL OFFICE	Al Owais Business Tower, 13 Floor, Office 1304 Al Sabkha - 115, PO Box 49236 Dubai, Deira, United Arab Emirates

SENIOR PERSONNEL
MANAGEMENT	NAME	POSITION
	Basir Ahmad	General Manager / Owner
	Amer Ali	Accounts Manager
WORKFORCE	NO. OF EMPLOYEES	PERIOD
	5	05.2018

FINANCIAL SUMMARY
As the Buyer has only recently been established, relevant financial information is not available. However, subject interviewee offered the following financial information, which applies to subject and its affiliated company, Noorzad General Trading LLC: Sales Turnover : AED 25,000,000 – 2017
FISCAL YEAR-END	31 December.

LEGAL STATUS
INCORPORATION	05/07/2017
REGISTRATION NO.	C.R. NUMBER	ISSUED BY
	Trade License No.: 16129 (expiry date: 04/07/2018)	Hamriyah Free Zone Authority
AUTHORISED CAPITAL	AMOUNT	CURRENCY
	150,000	AED
PAID-UP CAPITAL	AMOUNT	CURRENCY
	150,000	AED
BUSINESS HISTORY	The Company was incorporated in Hamriyah Free Zone Authority on 5 July 2017, however subject’s owner Mr. Basir Ahmad’s business activities can be traced back to 1995.
LEGAL FORM	Free Zone Establishment
STATUS	Active
OWNER	NAME	PERCENTAGE
	Basir Ahmad Nationality: Afghani * According to Hamriyah Free Zone Authority, which was established by an Emiry decree in November 12, 1995, Free Zone Establishment (FZE) incorporated in Hamriyah Free Zone is a single shareholder limited liability company. A Free Zone Company (FZC) can have multiple shareholders (maximum 5 shareholders) who can be either foreign individuals or a corporate body. The minimum capital requirement for incorporating a Free Zone Establishment (FZE) or Free zone Company (FZC) is Dhs.150,000 (Approximately US$ 40,000).	100.00%

OPERATION
BANKERS	Commercial Bank International (CBI) Festival Tower, 13th Floor Dubai Festival City PO Box 4449 Dubai United Arab Emirates Telephone: (+971 4) 227 5265 Fax : (+971 4) 402 3979
ACTIVITY CODE (NACE)	4612 - Agents involved in the sale of fuels, ores, metals and industrial chemicals;
LINE OF BUSINESS	Trading as importers, wholesalers and exporters of petroleum products, mainly 60-70 bitumen, base oil, diesel oil, fuel oil and white spirit.
IMPORT FROM	Middle Eastern and South East Asian countries.
EXPORT TO	GCC and South East Asian countries.
FACILITIES	Premises comprising administrative offices located at the heading address as well as additional offices located at Al Owais Business Tower, 13 Floor, Office 1304 Al Sabkha - 115, PO Box 49236 Dubai, Deira, United Arab Emirates.
RELATED COMPANIES	Associates 1. Noorzad General Trading LLC Al Owais Business Tower, 13 Floor, Office 1304 Al Sabkha – 115, Deira PO Box 49236 Dubai United Arab Emirates Est.: 14/04/2013 Trade License No.: 686893 2. Noorzad Petroleum FZE Hamriyah Free Zone Sharjah Status: Expired

SPECIAL REMARKS
INTERVIEWED	Amer Ali (Accounts Manager).

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 67.45
UK Pound	1	INR 89.79
Euro	1	INR 78.79
UAE DH	1	INR 18.28

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

INFORMATION DETAILS

Analysis Done by :	NIY
Report Prepared by :	TRU

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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