MIRA
INFORM REPORT
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Report Date : |
13th March, 2007 |
IDENTIFICATION
DETAILS
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Name : |
A R GEMS DMCC |
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Registered Office : |
Ahmed Mohamed
Saleh Building, 2nd Floor, Deira, Dubai, United Arab Emirates |
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Country : |
United Arab
Emirates |
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Date of Incorporation : |
07.05.2006 |
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Legal Form : |
Mouassasa Khassa
(Sole Proprietorship) |
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Line of Business : |
Wholesalers and Retailers of diamonds and other coloured 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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Status : |
New Company |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
SUMMARY
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Company Name |
A R GEMS 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 |
7th May 2006 |
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Trade Licence Number |
30496 |
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Membership Number |
0753 |
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Invested Capital |
UAE Dh 100,000 |
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Total Workforce |
2 |
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Line of Business |
Wholesalers and retailers of diamonds and other coloured stones. |
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Financial Condition |
Undetermined |
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Payments |
Nothing detrimental uncovered |
COMPANY NAME
A R GEMS DMCC
ADDRESS
Registered & Physical Address
Building : Ahmed Mohamed Saleh Building, 2nd
Floor
Area : Deira
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3325657
Facsimile : (971-4) 3325667
Mobile : (971-50) 2873563
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Dubai.
KEY PRINCIPALS
·
Nilesh
Dhirajlal Jogani Proprietor
& General Manager
LEGAL FORM & OWNERS
Date of Establishment : 7th
May 2006
Legal Form :
Mouassasa Khassa (Sole
Proprietorship)
Trade Licence No. : 30496
(Expires 24th June 2007)
Membership No. : 0753
Invested Capital
: UAE Dh 100,000
Mr Nilesh Dhirajlal
Jogani 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 wholesale and retail of
diamonds and other coloured 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
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Bank of Baroda
PO Box : 3162
Dubai
Tel :
(971-4) 5531955
Fax :
(971-4) 5536962
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.
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%)