MIRA INFORM REPORT

Report No. :	516298
Report Date :	27.06.2018

IDENTIFICATION DETAILS

Name :	ORION COMMODITIES FZE
Formerly Known As :	ORION COMMODITIES FZC
Registered Office :	Flexi Desk, RAKEZ Business Zone-FZ-RAK, Ras Al Khaimah Economic Zone (RAKEZ), PO Box: 16111 & 329982, Ras Al Khaimah
Country :	United Arab Emirates
Financials (as on) :	31.03.2018
Date of Incorporation :	20.04.2010
Com. Reg. No.:	5005067
Legal Form :	Free Zone Establishment
Line of Business :	Wholesale of metals and metal ores
No. of Employees :	1 [2018]

RATING & COMMENTS

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

MIRA’s Rating :

A

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

Status :	Satisfactory
Payment Behaviour :	No Complaints
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

SUMMARY
COMPANY NAME	ORION COMMODITIES FZE
ADDRESS	Building	Area			City			PO Box
	Flexi Desk, RAKEZ Business Zone-FZ-RAK	Ras Al Khaimah Economic Zone (RAKEZ)			Ras Al Khaimah			16111 & 329982 Ras Al Khaimah
PHONE	Verified Phones: (+971 50) 277 1001 (Balaji Devanathan) / (+91 84) 2028 8847 (Balaji Devanathan)
EMAIL/WEBSITE	Email: bala@orion-commodities.com / Website: www.orion-commodities.com (under construction)
ACTIVITY	NACE 4672 - Wholesale of metals and metal ores;
PRINCIPAL	Balaji Devanathan					Workforce
	General Manager					1
LEGAL INFO	Date Of Est.		Reg. No.	Legal Form			Status
	20/04/2010		5005067	Free Zone Establishment			Active
CAPITAL	CURRENCY			AMOUNT
	AED			100,000

IDENTIFICATION
CO. NAME	ORION COMMODITIES FZE
FORMER NAME	ORION COMMODITIES FZC
BUILDING	Flexi Desk, RAKEZ Business Zone-FZ-RAK
AREA	Ras Al Khaimah Economic Zone (RAKEZ)
POSTAL ADDRESS	16111 & 329982 Ras Al Khaimah
CITY	Ras Al Khaimah
COUNTRY	United Arab Emirates
PHONE	(+971 50) 277 1001 (Balaji Devanathan) / (+91 84) 2028 8847 (Balaji Devanathan)
VERIFIED EMAIL	bala@orion-commodities.com
REGISTERED ADDRESS	Flexi Desk, RAKEZ Business Zone-FZ-RAK Ras Al Khaimah Economic Zone (RAKEZ) PO Box: 16111 & 329982 Ras Al Khaimah United Arab Emirates
FORMER ADDRESS	Subject previously was located at: 126 Business Center 02 RAK Free Trade Zone Ras Al Khaimah United Arab Emirates

SENIOR PERSONNEL
MANAGEMENT	NAME	POSITION
	Balaji Devanathan (currently based in India)	General Manager
WORKFORCE	NO. OF EMPLOYEES	PERIOD
	1 (the above only)	06.2018

FINANCIAL SUMMARY
TURNOVER	31/03/2018	31/03/2017
	USD 8,300,000	USD 8,000,000
NET PROFIT / (LOSS)	Not given but stated to be 1-2.5% of the sales
FISCAL YEAR-END	31 March.

LEGAL STATUS
INCORPORATION	20/04/2010
REGISTRATION NO.	C.R. NUMBER	ISSUED BY
	License No.: 5005067 (expiry date: 19/04/2019)	Ras Al Khaimah Economic Zone (RAKEZ)
AUTHORISED CAPITAL	AMOUNT	CURRENCY
	100,000	AED
PAID-UP CAPITAL	AMOUNT	CURRENCY
	100,000	AED
BUSINESS HISTORY	The Company was incorporated in Ras Al Khaimah Economic Zone (RAKEZ) on 20 April 2010 as a free zone establishment under the name “ORION COMMODITIES FZE”. On 16 January 2011, subject was converted into a free zone company and changed its name to “ORION COMMODITIES FZC”. On 5 April 2016, subject was converted again to a free zone establishment under the present name and ownership.
LEGAL FORM	Free Zone Establishment
STATUS	Active
OWNER	NAME	PERCENTAGE
	Ms. Padmapriya Balaji Nationality: Indian (wife of Mr. Balaji Devanathan)	100.00%

OPERATION
BANKERS	RAK Bank (National Bank Of Ras Al Khaimah) King Faisal Road PO Box 41010 Dubai Telephone: (+971 4) 574 6888 Fax : (+971 4) 574 6363
ACTIVITY CODE (NACE)	4672 - Wholesale of metals and metal ores;
LINE OF BUSINESS	Trading as importers and wholesalers of metal and steel products as well as ferro-manganese, silicon manganese, ferro silicon, manganese ore, chrome, coke and other related products.
IMPORT FROM	India, South Africa and Taiwan.
EXPORT TO	GCC countries, Malaysia, Thailand and South American countries.
FACILITIES	Premises comprising registered offices located at the heading address.

PAYMENT RECORDS
CREDIT OPINION	We consider it is acceptable to deal with subject.

SPECIAL REMARKS
INTERVIEWED	Balaji Devanathan (General Manager).
COMMENTS	You enquired on: ORION COMMODITIES FZC. Please note that this name applies to subject's formerly known name. Subject's current registered name is as per heading. The address which you provided: 126 BUSINESS CENTER 02 RAKFTZ applies to subject's former address. Please note that subject's current administrative office address is as per heading.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 68.17
UK Pound	1	INR 90.47
Euro	1	INR 79.74
UAE Dh	1	INR 18.67

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

INFORMATION DETAILS

Analysis Done by :	DIV
Report Prepared by :	SYL

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.