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"When the company started up in the early nineties, it traded exclusively in two products, plastic scrap and caustic soda. In 1994 we moved into plastic raw materials as well and when I came on board we diversified further, moving into cement clinker in 1997.
"We are not just a standard trading company any more; we now also deal in logistics, taking products door to door to keep expenses down for our customers and, at every stage, we always demonstrate complete transparency with regard to costs. We call it a value added service."
A1/P1 ratings
Calipar Trading's relationship with the HSBC started five years ago, thanks mainly to one of its key, loyal customers.
"We have a small but loyal customer base and one of our main clients, Reliance Industries, was using the HSBC for its own banking needs. Reliance said that if we used the same bank then naturally the processing of invoices and other paperwork would be quickened up considerably - not to mention that the fact as an A1/P1 bank HSBC is one of the world's top financial firms.
"We do business all over the world and HSBC's A1/P1 rating clearly helps, as a letter of credit from them will virtually always be accepted. They are well known right around the globe."
Since Calipar Trading signed up with the HSBC, things have gone on very smoothly and Mr Merchant now counts his Relationship Manager as a personal friend.
"We now have a credit line for opening letters of credit smoothly and swiftly. The HSBC have impressed us with their keen yet courteous approach to doing business. They are very thorough and always stay abreast of what is going on in our industry. We also talk to them about our decisions and they give us re-assurance about what we are planning."
Flexibility
Another plus point for Mr Merchant is the HSBC's flexibility which has played its part in aiding the firm's plans for the future.
"They have always been so supportive in our plans for growth. If we ever exceed our allowable limits, then they will give us special approval very quickly. Back in 1996, our turnover was $2.8m, this year we are hoping to hit $24m.
"At some point in the future, we are also aiming to move to a 50,000 sqft warehouse space in the Dubai Logistics City.
"Our philosophy is to value our customers and give them a consistently high level of service from ordering through to delivery of products. HSBC is the same in that regard, offering us efficiency, reliability and support."
Jonathan Sheikh-Miller, Deputy Editor
