MIRA INFORM REPORT

Report No. :	516358
Report Date :	26.06.2018

IDENTIFICATION DETAILS

Name :	AEGIS RESOURCES DMCC
Registered Office :	Unit No: 3708, JBC1, Plot No: JLT-PH1-G2A, Jumeirah Lakes Towers, Dubai
Country :	United Arab Emirates
Date of Incorporation :	10.01.2017
Com. Reg. No.:	DMCC-226191
Legal Form :	DMCC Free Zone - Limited Liability Company
Line of Business :	Trading as importers, re-exporters and wholesalers bulk raw material needs of the Steel, Power, and Cement Industry as well as limestone, dolomite, gypsum, and coal.
No. of Employees :	5

RATING & COMMENTS

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

MIRA’s Rating :

C

Credit Rating	Explanation	Rating Comments
C	Medium High Risk	Business dealings permissible preferably on secured basis

Status :	Relatively 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 (31.12.2017)	Current Rating (01.04.2018)
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

BRIEF SUMMARY

COMPANY NAME	AEGIS RESOURCES DMCC
ADDRESS	Building	Area			City			PO Box
	JBC-1, Cluster-G, Office 3708	Jumeirah Lakes Towers			Dubai			487606 & 336906 Dubai
TEL/FAX	Verified Phones: (+971 4) 554 6936 / Fax: (+971 4) 554 6935
EMAIL/WEBSITE	Email: admin@aegis-overseas.com / Website: www.aegisuae.com
ACTIVITY	NACE 4675 - Wholesale of chemical products; NACE 4690 - Non-specialised wholesale trade;
PRINCIPAL	Girish Agarwal					Workforce
	Chief Executive Officer					5
LEGAL INFO	Date Of Est.		Reg. No.	Legal Form			Status
	10/01/2017		DMCC-226191	DMCC Free Zone - Limited Liability Company			Active
CAPITAL	CURRENCY			AMOUNT
	AED			100,000
OPINION ON MAX CREDIT	NOTES			START DATE OF BUSINESS ACTIVITIES
	NB - New Business less than 24 months old			January 2017

IDENTIFICATION

CO. NAME	AEGIS RESOURCES DMCC
BUILDING	JBC-1, Cluster-G, Office 3708
AREA	Jumeirah Lakes Towers
POSTAL ADDRESS	487606 & 336906 Dubai
CITY	Dubai
COUNTRY	United Arab Emirates
TELEPHONE	(+971 4) 554 6936 / (+971 4) 566 7820 / Mobiles (+971 56) 102 3901 (Girish Agarwal) / (+971 55) 272 7624 (Ms. Kinga Kuruczova)
FAX	(+971 4) 554 6935
VERIFIED EMAIL	admin@aegis-overseas.com / sales@aegis-overseas.com
WEBSITE	www.aegisuae.com
BUSINESS HOURS	DAYS	OFFICE HOURS	BREAK TIME
	Sun-Thu	10:00-19:00	14:00-15:00
REGISTERED ADDRESS	Unit No: 3708, JBC1 Plot No: JLT-PH1-G2A Jumeirah Lakes Towers Dubai UAE

SENIOR PERSONNEL

MANAGEMENT	NAME	POSITION
	Girish Agarwal	Chief Executive Officer
	Ms. Kinga Kuruczova	International Sales Manager & Executive Assistant
WORKFORCE	NO. OF EMPLOYEES	PERIOD
	5	06.2018

FINANCIAL SUMMARY

NOTES

As the Buyer has only recently been established, relevant financial information is not available.

LEGAL STATUS

INCORPORATION	10/01/2017
REGISTRATION NO.	C.R. NUMBER	ISSUED BY
	Trade License No.: DMCC-226191 (expiry date: 09/01/2019)	Dubai Multi Commodities Centre
OTHER REGISTRATION NO.	Registration No.: DMCC66349
AUTHORISED CAPITAL	AMOUNT	CURRENCY
	100,000	AED
PAID-UP CAPITAL	AMOUNT	CURRENCY
	100,000	AED
BUSINESS HISTORY	The Company was incorporated in Dubai Multi Commodities Centre on 10 January 2017.
LEGAL FORM	DMCC Free Zone - Limited Liability Company
STATUS	Active
SOLE SHAREHOLDER	NAME	PERCENTAGE
	Girish Agarwal Nationality: Indian * Dubai Multi Commodities Centre (DMCC) is a free zone authority offering 100% business ownership, a guaranteed 50 year tax holiday and freehold property options. Entities licensed by DMCC (Free Zone Establishment or Free Zone Companies / LLC) are not required to have a local sponsor.	100.00%

OPERATION

BANKERS	1. National Bank Of Fujairah Khalid Bin Waleed Street PO Box : 2979 Dubai Telephone: (+971 4) 397 1700 Fax : (+971 4) 397 3922 2. Emirates NBD Bank (Fmly Emirates Bank International) Baniyas Square PO Box: 2923 Dubai Telephone: (+971 4) 228 3101 Fax : (+971 4) 222 6773
AUDITORS	Puthran Chartered Accountants P.O. Box 50127 Dubai United Arab Emirates Telephone: (+971 4) 345 2006 Email : puthran@emirates.net.ae
ACTIVITY CODE (NACE)	4675 - Wholesale of chemical products; 4690 - Non-specialised wholesale trade;
LINE OF BUSINESS	Trading as importers, re-exporters and wholesalers bulk raw material needs of the Steel, Power, and Cement Industry as well as limestone, dolomite, gypsum, and coal. Subject’s partners includes: Steel Authority of India Ltd (SAIL), Vizag Steel Rashtriya Ispat Nigam Ltd, Tata Steel, JSW Steel, Bhushan Steel, ESSAR Steel, Electro Steel, NTPC, NTEPL, Adani, Cargill, Oldendorf, Western Bulk and Gandhar Oil Refinery India Ltd.
IMPORT FROM	Worldwide.
EXPORT TO	Worldwide.
FACILITIES	Leased premises comprising administrative offices located at the heading address.
RELATED COMPANIES	Associate AEGIS CARRIERS DMCC 3301, JBC-1, Cluster-G Jumeirah Lakes Towers PO Box: 487606 Dubai UAE Tel: (+971 4) 554 6936 Fax: (+971 4) 554 6935

SPECIAL REMARKS

INTERVIEWED

Ms. Kinga Kuruczova (International Sales Manager & Executive Assistant).

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 68.15
UK Pound	1	INR 90.27
Euro	1	INR 79.35
UAE Dh	1	INR 18.59

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

INFORMATION DETAILS

Analysis Done by :	VIV
Report Prepared by :	SDA

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.