MIRA
INFORM REPORT
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Report Date : |
12th
January, 2007 |
IDENTIFICATION
DETAILS
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Name : |
SHINEDIMON DMCC |
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Registered Office : |
Al
Daghaya Building, Office No. 401, Gold Souq, PO Box: 171879, Dubai, United
Arab Emirates. |
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Country : |
United
Arab Emirates |
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Date of Incorporation : |
2005 |
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Legal Form : |
Mouassasa
Khassa (Sole Proprietorship) |
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Line of Business : |
Engaged
in the import and distribution of jewellery and precious stones. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$
50,000 |
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Status : |
Small
Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
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Company
Name |
SHINEDIMON 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 |
2005 |
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Trade
Licence Number |
030615 |
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Invested
Capital |
UAE Dh 1,000,000 |
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Total
Workforce |
2 |
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Line
of Business |
Distributors of jewellery and precious stones. |
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Financial
Condition |
Undetermined |
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Payments |
Nothing detrimental uncovered |
COMPANY NAME
SHINEDIMON
DMCC
ADDRESS
Registered & Physical Address
Building : Al Daghaya Building, Office No.
401
Area : Gold Souq
PO Box : 171879
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2264778
Facsimile : (971-4) 2261620
Email : salwa@pkfuae.com
Premises
Subject
operates from a small suite of offices that are rented and located in the
Central Business Area of Dubai.
KEY PRINCIPALS
·
Pankaj
Zaveri Proprietor
& General Manager
LEGAL FORM & OWNERS
Date of Establishment : 2005
Legal Form : Mouassasa Khassa (Sole Proprietorship)
Trade Licence No. : 030615
Invested
Capital : UAE Dh 1,000,000
Mr
Pankaj Zaveri 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 precious stones.
Import
Countries :
Europe and the Far East.
Subject
has a workforce of 2 employees.
FINANCIAL HIGHLIGHTS
Subject
is a newly formed business and as a result financial information is not
currently available.
BANKERS
·
Emirates
Bank International Ltd
Baniyas Road
PO Box : 2923
Deira
Dubai
Tel :
(971-4) 2256256 / 2256900
Fax : (971-4)
2268005 / 2267718
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$ 50,000
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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