MIRA
INFORM REPORT
|
Report Date : |
3rd
January, 2007 |
IDENTIFICATION
DETAILS
|
Name : |
ROSY
BLUE FZE |
|
|
|
|
Registered Office : |
Dubai
Airport Free Zone, PO Box: 54303, Dubai, United Arab Emirates |
|
|
|
|
Country : |
United
Arab Emirates |
|
|
|
|
Date of Incorporation : |
1999 |
|
|
|
|
Legal Form : |
Mouassasat
Al Mintaka Al Horra (Free Zone Establishment - FZE) |
|
|
|
|
Line of Business : |
Polishers and distributors of precious stones and jewellery items. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
US$
200,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
SUMMARY
|
Company
Name |
ROSY BLUE FZE |
|
Country
of Origin |
Dubai, United Arab Emirates |
|
Legal
Form |
Free Zone Establishment - FZE |
|
Registration
Date |
1999 |
|
Trade
Licence Number |
8055 |
|
Membership
Number |
200147 |
|
Issued
Capital |
UAE Dh 1,000,000 |
|
Paid
up Capital |
UAE Dh 1,000,000 |
|
Total
Workforce |
5 |
|
Line
of Business |
Polishers and distributors of precious stones and jewellery items. |
|
Financial
Condition |
Fair |
|
Payments |
Nothing detrimental uncovered |
|
Operating
Trend |
Steady |
COMPANY NAME
ROSY
BLUE FZE
ADDRESS
Registered & Physical Address
Location : Dubai Airport Free Zone
PO Box : 54303
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2995914
Facsimile : (971-4) 2995916
Email : rosyblue@emirates.net.ae
Premises
Subject
operates from a small suite of offices and a showroom with workshop facilities
that are rented and located in the Dubai Airport Free Zone.
KEY PRINCIPALS
Name Nationality Position
· Arshad Metha Indian Managing
Director
· Dilip Metha Indian Director
· Manoj Shah - Commercial
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1999
Legal Form : Mouassasat Al Mintaka Al Horra (Free Zone Establishment - FZE)
Trade Licence No. : 8055
Membership No. : 200147
Issued
Capital : UAE Dh 1,000,000
Paid
up Capital : UAE Dh 1,000,000
Name of Shareholder (s)
· Arshad Metha
· Dilip Metha
Note to the Legal Form A Free Zone Establishment - or FZE - is an establishment formed and registered within the Free Zones and regulated solely by the Free Zone authorities.
Such establishments must have a capital of at least UAE Dh 1 million and
liability will be limited to the amount of paid-up capital. A FZE need only
have a single shareholder and is an independent legal entity.
This legal form allows for 100 percent foreign ownership within the United Arab Emirates and allows foreign companies to maintain a presence in the UAE (within the free zone), without the usual requirement of a local sponsor that would hold majority ownership, i.e. minimum of 51 % equity in the capital.
LINE OF BUSINESS
Operations: Engaged in the import, polishing
and distribution of diamonds, precious stones and jewellery
items.
Import
Countries:
Belgium and India.
Operating
Trend: Steady
Subject
has a workforce of 5 employees.
FINANCIAL HIGHLIGHTS
Financial
highlights provided by outside sources are given below :
Currency
: United Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/04 Year
Ending 31/12/05
Total
Revenue UAE Dh
4,870,000 UAE Dh 5,030,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
·
ABN
Amro Bank
Deira Branch
PO Box : 2567
Dubai
Tel : (971-4) 3512200
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Established
in 1999, subject is involved in the import, polishing and distribution of
diamonds, precious
stones
and jewellery items.
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$ 200,000
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable
to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
|