MIRA
INFORM REPORT
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Report Date : |
23rd February, 2007 |
IDENTIFICATION
DETAILS
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Name : |
POSH JEWELLERY LTD DMCC |
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Registered Office : |
DMCC Complex,
Building No. 1, 10th Floor, Sheikh Zayed Road, 6th
Interchange PO Box: 340006,
Dubai, United Arab Emirates. |
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Country : |
United Arab
Emirates |
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Date of Incorporation : |
01.06.2004 |
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Com. Reg. No.: |
0073 |
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Legal Form : |
Limited Liability
Company |
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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 : |
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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Maximum Credit Limit : |
US$ 100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
SUMMARY
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Company Name |
POSH JEWELLERY LTD DMCC |
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Country of Origin |
Dubai, United Arab Emirates |
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Legal Form |
Limited Liability Company |
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Registration Date |
1st June 2004 |
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Commercial
Registration Number |
0073 |
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Trade Licence
Number |
39004 |
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Issued Capital |
UAE Dh 1,000,000 |
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Paid up Capital |
UAE Dh 1,000,000 |
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Total Workforce |
4 |
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Line of Business |
Distributors of jewellery and precious stones. |
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Financial Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating Trend |
Steady |
COMPANY NAME
POSH JEWELLERY LTD
DMCC
ADDRESS
Registered & Physical Address
Location : DMCC Complex, Building No. 1, 10th
Floor
Street : Sheikh Zayed Road, 6th
Interchange
PO Box : 340006
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3688627
Facsimile : (971-4) 3688625
Email : poshjewellery@yahoo.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Dubai.
KEY PRINCIPALS
Name Nationality Position
·
Puneet Kapur Indian Managing Director
·
Parabir
Katrogia - Sales
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1st
June 2004
Legal Form :
Limited Liability Company
Commercial Reg. No. : 0073
Trade Licence No. : 39004
Issued Capital : UAE Dh 1,000,000
Paid up Capital : UAE Dh 1,000,000
Name of Shareholder (s)
Percentage
·
Puneet Kapur 100%
LINE OF BUSINESS
Operations : Engaged in the import and distribution of
jewellery and precious stones.
Import Countries
: Europe and the Far East.
Operating Trend
: Steady
Subject has a
workforce of 4 employees.
FINANCIAL HIGHLIGHTS
Financial
highlights provided by outside sources are given below :
Currency : United
Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/05 : Year
Ending 31/12/06 :
Total Revenue UAE Dh 3,150,000 UAE Dh
3,480,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
·
Commercial
Bank of Dubai
Baniyas Street
PO Box : 1709
Deira
Dubai
Tel :
(971-4) 2227121 / 2253222
Fax :
(971-4) 2220943 / 2254565
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in
2004, subject is involved in the import and distribution of jewellery and
precious stones.
During the course
of this investigation nothing detrimental was uncovered regarding subject’s
operating history or the manner in which payments are fulfilled. As such the
company is considered to be a fair trade risk.
Maximum suggested
credit figure: US$ 100,000
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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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%)
PRIVATE
& CONFIDENTIAL : This information is provided to you at
your request, you having employed MIPL for such purpose. You will use the
information as aid only in determining the propriety of giving credit and
generally as an aid to your business and for no other purpose. You will hold
the information in strict confidence, and shall not reveal it or make it known
to the subject persons, firms or corporations or to any other. MIPL does not
warrant the correctness of the information as you hold it free of any liability
whatsoever. You will be liable to and indemnify MIPL for any loss, damage or
expense, occasioned by your breach or non observance of any one, or more of
these conditions