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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

516919

Report Date :

28.06.2018

 

IDENTIFICATION DETAILS

 

Name :

INTERFER STEEL AND COMMODITIES FZE

 

 

Registered Office :

LOB-21, Suite No. 018, PO Box: 127205, Dubai

 

 

Country :

United Arab Emirates

 

 

Date of Incorporation :

17.07.2011

 

 

Legal Form :

Free Zone Establishment 

 

 

Line of Business :

Wholesale of metals and metal ores

 

 

No. of Employees :

3 (administrative staff)  

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd 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 :

Slow but Correct

 

 

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

 

Company summery

 

COMPANY NAME

Interfer Steel and Commodities FZE

 

ADDRESS

Building

Area

City

PO Box

LOB-21, Suite No. 014 & 018, Ground Floor

Jebel Ali Free Zone

Dubai

127205

Dubai

TEL/FAX 

Verified Phones: (+971 4) 881 1099 / Fax: (+971 4) 881 1690

EMAIL/WEBSITE

Email: sobko@interfer.de / Website: www.interfer.de

ACTIVITY

NACE 4672 - Wholesale of metals and metal ores; 

PRINCIPAL 

Ms. Irene Sobko   

Workforce 

Regional Manager / Director 

3 (administrative staff)  

LEGAL INFO 

 

Date Of Est.

Reg. No.

Legal Form

Status

17/07/2011

Not given 

Free Zone Establishment 

Active

 

 

BUSINESS INFORMATION

 

IDENTIFICATION

CO. NAME

Interfer Steel and Commodities FZE

BUILDING

LOB-21, Suite No. 014 & 018, Ground Floor

AREA

Jebel Ali Free Zone

POSTAL ADDRESS

127205 Dubai

CITY

Dubai

COUNTRY

United Arab Emirates

TELEPHONE

(+971 4) 881 1099 / (+49 721) 943 970

FAX

(+971 4) 881 1690

VERIFIED EMAIL

sobko@interfer.de / patrick@interfer-steel.com

WEBSITE

www.interfer.de

BUSINESS HOURS

DAYS

OFFICE HOURS

BREAK TIME

Sun-Thu

09:00-17:00

13:00-14:00

REGISTERED ADDRESS

LOB-21, Suite No. 018

PO Box: 127205

Dubai

United Arab Emirates

 

 

SENIOR PERSONNEL

 

MANAGEMENT

NAME

POSITION

Ms. Irene Sobko

(currently based in Germany)   

Regional Manager / Director  

WORKFORCE

NO. OF EMPLOYEES

PERIOD

3 (administrative staff)  

06.2018

 

 

FINANCIAL SUMMARY

 

NOTES     

Private companies in UAE are not required to publish or disclose balance sheets. Balance sheets are not available from other sources, and the subject interviewed declined to give any financial information, which the company regards as strictly confidential.

 

The following financial information applies to subject’s parent company, Interfer - Steel and Commodities GmbH (latest available):

 

Sales Turnover : EURO 200,000,000 – 2016

 

Financial year ends 31 December.

 

 

LEGAL STATUS 

 

INCORPORATION

17/07/2011

REGISTRATION NO.       

C.R. NUMBER

ISSUED BY  

Trade License No.: not given

Jebel Ali Free Zone Authority (JAFZA)

CAPITAL     

Not given

BUSINESS HISTORY

The Company was incorporated in Jebel Ali Free Zone on 17 July 2011.  

LEGAL FORM     

Free Zone Establishment 

STATUS

Active

SOLE SHAREHOLDER 

NAME  

PERCENTAGE

Interfer - Steel and Commodities GmbH

Wachhausstr. 5c

76227 Karlsruhe

Germany 

Tel: (+49 721) 943 970

Fax: (+49 721) 943 9778

Email: info@interfer-steel.com 

 

* According to law No.9 governing the establishment of companies in

the Jebel Ali Free Zone, which was introduced in early 1992 and came

into force in October 1992, foreign companies are allowed to set up

separate legal entities referred to as Free Zone Establishments

(FZEs) and Free Zone Companies (FZCO) having all features of a

Private Limited Liability Company. The FZE can be either owned by a

foreign individual or a corporate body. Its liability is determined

by the amount of paid-up capital, which must be at least Dh 1

million. Previously, FZEs had to be branches of a company registered

in a foreign country. A FZCO legal form allows investors to establish

a company in Jebel Ali Free Zone having more than one shareholders

(FZE only permits one shareholder). Its minimal registered capital is

Dh 500,000.

100.00% 

 

 

OPERATION 

 

BANKERS   

Mashreq Bank

Omar Bin Khattab Street

PO Box 1250

Dubai

Telephone: (+971 4) 222 9131

Fax      : (+971 4) 222 6061

 

Subject also has an account with other local banks.  

ACTIVITY CODE (NACE)    

4672 - Wholesale of metals and metal ores;

LINE OF BUSINESS    

Trading as importers and wholesalers of steel products, hot-rolled & cold-rolled unalloyed steels, construction steels as well as micro-alloyed steels and hot dip galvanized steels.

 

Subject’s products includes:

 

Flat products:

 

1. Hot-Rolled

- Unalloyed high-quality steels;  

- Construction steels;    

- Micro-alloyed steels with high yield strength.

 

2. Cold-Rolled

- Unalloyed high-quality steels;

- Micro-alloyed steels.

 

3. Hot Dip Galvanized

- Steels with high yield strength;

- Steels for deep drawing;         

- Construction steels.

 

4. Electrolytically galvanized

- Steels for cold working;          

- Steels with high yield strength.

 

5. Heavy plates

- Hot rolled heavy plates.

 

Long products:

 

- Steel bars;

- Wire rods;

- Blocks;

- Cast products.                        

IMPORT FROM  

Europe, India, China, Turkey, Egypt, South Korea, Taiwan and Ukraine. 

EXPORT TO 

Worldwide. 

FACILITIES

Leased premises comprising administrative offices located at the heading address. 

RELATED COMPANIES

Associates

 

1. Interfer Edelstahl Handelsges GmbH

   Wachhausstr. 5c

   76227 Karlsruhe

   Germany

   Tel: (+49 721) 943 970

   Fax: (+49 721) 943 9777

   Email: info@interfer.de          

 

2. LLC Interfer Steel

   Magnitogorskaya str., 11/lit. A,

   Business centre "Magnit", office 401

   Saint Petersburg 195027

   Russia

   Tel: (+7 812) 612 2917

 

3. Interfer Steel USA Inc.

   1990 N.E. 163rd Street,  # 240

   North Miami Beach,  FL 33162

   USA

   Tel: (+1 786) 520 4203

   Email: gaidouk@interfer-usa.com       

 

4. Interfer Steel s.r.o

   Divadelní 1703

   27201 Kladno

   Czech Republic

   Tel: (+420 312) 242 442

   Fax: (+420 312) 242 443

   Email: info@interfer.cz          

 

5. Interfer – HAWK Steel FZC

   E-LOB2, Office 120F-47

   Hamriyah Free Zone

   Sharjah 

   Tel: (+971 6) 526 9297

   Fax: (+971 6) 526 9298

   Email: info@interfer.ae          

 

6. Interfer Steel Ltd. (UK)

   UK

 

7. Interfer Demir Çelik Ve Metal Tic. Ltd.

   Ayazaga Mah. Meydan Sok. No: 1

   Beybi Giz Plaza Kat: 26

   34396 Maslak

   Istanbul 

   Turkey

   Tel: (+90 212) 335 2652

   Email: kenan@interfer-steel.com

 

 

PAYMENT RECORDS 

 

CREDIT OPINION   

We consider it is acceptable to deal with subject for MEDIUM amounts.

 

 

SPECIAL REMARKS 

 

INTERVIEWED   

Ms. Irene Sobko (Regional Manager / Director).  

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 68.52

UK Pound

1

INR 90.60

Euro

1

INR 79.87

UAE DH

1

INR 18.77

 

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

VIV

 

 

Report Prepared by :

KET

                                                


 

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)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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