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MIRA
INFORM REPORT
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Report Date : |
01.08.2007 |
IDENTIFICATION DETAILS
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Name : |
SURESH BROTHERS
DMCC ( |
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Registered Office : |
Abdul Rehman Al |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
20th March 2005 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Engaged in the import
and distribution of gold, 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
Company Name :
SURESH BROTHERS DMCC (
Country of Origin :
Legal Form : Limited Liability Company
Registration Date : 20th March 2005
Trade Licence Number : 30282
Membership Number : 0379
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 8
Line of Business : Distributors of gold, jewellery and diamonds.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
COMPANY NAME
SURESH BROTHERS
DMCC (
ADDRESS
Registered & Physical Address
Building : Abdul Rehman Al
PO Box : 2207
Town :
Country :
Telephone : (971-4) 2266513
Facsimile : (971-4) 2263732
Email : mails@sureshbros.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Dubai.
KEY PRINCIPALS
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Kamalesh
Jhaveri Managing
Director
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Bharat
Jhaveri Director
LEGAL FORM &
OWNERS
Date of Establishment : 20th
March 2005
Legal Form :
Limited Liability Company
Trade Licence No. : 30282
Membership No. : 0379
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder
(s) Percentage
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Suresh
Brothers Pvt Ltd 100%
Mumbai
Tel : (91-22) 23631741
Fax : (91-22) 23632654
LINE OF BUSINESS
Operations : Engaged in the import and distribution of
gold, jewellery and diamonds.
Import Countries
: Europe and the
Subject has a
workforce of 8 employees.
FINANCIAL HIGHLIGHTS
Financial
highlights provided by outside sources are given below :
Currency :
Year
Ending 31/12/06 :
Total Revenue UAE Dh
5,285,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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National
Bank of
PO Box : 777
Tel : (971-4) 2222241
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in
2005, subject is involved in the import and distribution of gold, jewellery and
diamonds.
According to local
sources, subject meets its payment obligations in a timely manner and the
company is considered to be a fair trade risk.
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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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 and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)