MIRA
INFORM REPORT
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Report Date : |
21st
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
SAHADIYA JEWELS DMCC |
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Registered Office : |
Gold House,
Suite No. 408 Al Ras
Street, Deira 65013,
Dubai, United Arab Emirates |
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Country : |
United
Arab Emirates |
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Date of Incorporation : |
27th November 2005 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors of jewellery and diamonds. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Status : |
Satisfactory
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
SUMMARY
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Company Name |
SAHADIYA JEWELS DMCC |
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Country of Origin |
Dubai, United Arab Emirates |
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Legal Form |
Sole Proprietorship |
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Registration Date |
27th November 2005 |
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Trade Licence Number |
30348 |
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Invested Capital |
UAE Dh 150,000 |
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Total Workforce |
5 |
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Line of Business |
Distributors of jewellery and diamonds. |
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Financial Condition |
Undetermined |
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Payments |
Nothing detrimental uncovered |
COMPANY NAME
SAHADIYA
JEWELS DMCC
ADDRESS
Registered
& Physical Address
Building : Gold House, Suite No. 408
Street : Al Ras Street
Area : Deira
PO Box : 65013
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2350740
Facsimile : (971-4) 2350736
Email : anmakwt@hotmail.com
Premises
Subject
operates from a small suite of offices that are rented and located in the
Central Business Area of Dubai.
KEY PRINCIPALS
Abdul
Rasheed Kasim Proprietor
& General Manager
Kanir
Rafi Assistant
General Manager
LEGAL FORM & OWNERS
Date
of Establishment : 27th November 2005
Legal
Form : Mouassasa Khassa (Sole
Proprietorship)
Trade
Licence No. : 30348
Invested
Capital : UAE Dh 150,000
Mr Abdul
Rasheed Kasim is the sole proprietor of the business.
Note to the Legal Form
Commonly referred to as an establishment, the Company Law defines Mouassasa Khassa as the business of an individual where liability for all debts is unlimited. The business is the entire responsibility of its proprietor, who is liable for all its debts to the extent of his entire wealth. There are no legal requirements concerning the amount of capital of a sole proprietor.
LINE OF BUSINESS
Operations
: Engaged in the
import and distribution of jewellery and diamonds.
Import
Countries :
Europe and South America.
Subject
has a workforce of 5 employees.
FINANCIAL HIGHLIGHTS
Subject
is a newly formed business and as a result financial information is not
currently available.
BANKERS
Commercial
Bank of Dubai
Mankhool
Street
PO Box :
2668
Dubai
Tel :
(971-4) 3523355
Fax :
(971-4) 3527655 / 2524796
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Investigations
undertaken in Dubai did not reveal any sign of payment defaults or delays
during initial trading stages, and subject is believed to meet its payment
obligations in a timely manner, nevertheless, and in view of the company’s
infancy and the lack of a more consistent payment and financial record, a
measure of caution is advisable and a close monitoring of subject’s business
development is recommended.
Maximum
suggested credit figure: US$ 40,000
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No
caution needed for credit transaction. It has above average (strong)
capability for payment of interest and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded
healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of
interest and principal sums in default or expected to be in default upon
maturity |
Limited with full security |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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