MIRA INFORM REPORT

Report No. :	498273
Report Date :	20.03.2018

IDENTIFICATION DETAILS

Name :	ORIENT MOTORS LLC
Registered Office :	Emirates Industrial City, Sajja, PO Box 22212, Sharjah
Country :	United Arab Emirates
Financials (as on) :	31.12.2017
Date of Incorporation :	07.06.2007
Legal Form :	Limited Liability Company - LLC
Line of Business :	Subject is engaged in the import and distribution of automobiles, buses and related parts and provision of workshop and garage services, including air conditioning, car maintenance and painting services.
No. of Employees :	150

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 (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 : ORIENT MOTORS LLC

Country of Origin : Sharjah, United Arab Emirates

Legal Form : Limited Liability Company - LLC

Registration Date : 7^th June 2007

Trade Licence Number : 553702

Chamber Membership Number : 79021

Issued Capital : UAE Dh 150,000

Paid up Capital : UAE Dh 150,000

Total Workforce : 150

Activities : Distributors of automobiles, buses and related parts and provision of

workshop and garage services

Financial Condition : Fair

Payments : No Complaints

Operating Trend : Steady

COMPANY NAME

ORIENT MOTORS LLC

ADDRESS

Registered & Physical Address

Location : Emirates Industrial City, Sajja

PO Box : 22212

Town : Sharjah

Country : United Arab Emirates

Telephone : (971-6) 5072700

Facsimile : (971-6) 5072701

Mobile : (971-52) 6772072

Email : info@orientmotors.ae

Please note that the correct PO Box number is 22212 and not 2212.

Premises

Subject operates from a large suite of offices and a workshop that are rented and located in the Industrial Area of Sharjah.

KEY PRINCIPALS

Name Nationality Position

Sheikh Faisal Khalid Sultan Al Qassimi Emirati Managing Director

Sheikh Mohamed Saqr Al Qassimi Emirati Director

Sheikh Sultan Khalid Sultan Al Qassimi Emirati Director

Sheikh Saud Khalid Sultan Al Qassimi Emirati Director

Sheikha Lubna Khalid Sultan Al Qassimi Emirati Director

Sheikha Amel Khalid Sultan Al Qassimi Emirati Director

Sheikha Fatima Khalid Sultan Al Qassimi Emirati Director

Sheikha Aysha Khalid Sultan Al Qassimi Emirati Director

Alex Abraham - General Manager

Abraham Thomas - Financial Controller

Surrup M - Workshop Service Manager

Noman Abbas - Public Relations Manager

Sohraab Hasnain - Marketing Manager

Jignesh Vyas - Production Manager

Miriyam George - Human Resources Manager

LEGAL FORM & OWNERS

Date of Establishment : 7^th June 2007

Legal Form : Limited Liability Company - LLC

Trade Licence No. : 553702

Chamber Member No. : 79021

Issued Capital : UAE Dh 150,000

Paid up Capital : UAE Dh 150,000

Name of Shareholder (s)

Sheikh Faisal Khalid Sultan Al Qassimi

Sheikh Mohamed Saqr Al Qassimi

Sheikh Sultan Khalid Sultan Al Qassimi

Sheikh Saud Khalid Sultan Al Qassimi

Sheikha Lubna Khalid Sultan Al Qassimi

Sheikha Amel Khalid Sultan Al Qassimi

Sheikha Fatima Khalid Sultan Al Qassimi

Sheikha Aysha Khalid Sultan Al Qassimi

AFFILIATED COMPANIES

Orients Transport Rent a Car

Sharjah

Auto Link Rent a Car

Sharjah

OPERATIONS

Activities: Engaged in the import and distribution of automobiles, buses and related parts and provision of workshop and garage services, including air conditioning, car maintenance and painting services.

Import Countries: Europe and the Far East

Brand Names: VEERA

Operating Trend: Steady

Subject has a workforce of 150 employees.

FINANCIAL DATA

Financial highlights provided by local sources are given below:

Currency: United Arab Emirates Dirham (UAE Dh)

Year Ending 31/12/16: Year Ending 31/12/17:

Total Sales UAE Dh 43,500,000 UAE Dh 46,100,000

Local sources consider subject’s financial condition to be Fair.

The above financial figures are based on estimations by our local sources.

BANKERS

Sharjah Islamic Bank

Al Boorj Avenue

PO Box: 4

Sharjah

Tel: (971-6) 5547747

PAYMENT HISTORY

No complaints regarding subject’s payments have been reported.

GENERAL COMMENTS

The subject and its shareholders/owners have been searched in the following databases; Office of Foreign Assets Control (OFAC), United Nations Security Council Sanctions, Australian Sanctions List, US Consolidated Sanctions List, EU Financial Sanctions List and UK Financial Sanctions List and nothing adverse could be found on the exact names listed within the report.

According to local sources, subject enjoys a good reputation for the quality of its products with nothing detrimental uncovered regarding the manner in which operations are conducted. As such the company is considered to be a fair trade risk.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 65.04
UK Pound	1	INR 90.55
Euro	1	INR 79.77
UAE Dh	1	INR 17.76

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

INFORMATION DETAILS

Analysis Done by :	PRA
Report Prepared by :	TPT

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.