MIRA
INFORM REPORT
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Report Date : |
06.10.2007 |
IDENTIFICATION DETAILS
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Name : |
M SURESH CO DMCC |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
17th August 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, diamonds and jewellery. |
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 : |
Usually correct |
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Litigation : |
Clear |
SUMMARY
Company Name : M SURESH CO DMCC
Country of Origin :
Legal Form : Limited Liability Company
Registration Date : 17th August 2005
Trade Licence Number : 30339
Membership Number : 0532
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 6
Line of Business : Distributors of gold, diamonds and jewellery.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
COMPANY NAME
M SURESH CO DMCC
ADDRESS
Registered & Physical Address
Location :
Area : Deira
PO Box : 103558
Town :
Country :
Telephone : (971-4) 2266579
Facsimile : (971-4) 2266579
Email : mscdmcc@eim.ae
Premises
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Central Business Area of Dubai.
KEY PRINCIPALS
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Monesh
Pethani Managing
Director
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Rajesh
Shah General
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 17th
August 2005
Legal Form :
Limited Liability Company
Trade Licence No. : 30339
Membership No. : 0532
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder
(s) Percentage
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M
Suresh Pvt Ltd 100%
Mumbai
Tel : (91-22) 23639001
Fax : (91-22) 23696492
LINE OF BUSINESS
Operations : Engaged in the import and distribution of
gold, diamonds and jewellery.
Import Countries
: Europe and the
Subject has a
workforce of 6 employees.
FINANCIAL HIGHLIGHTS
Financial
highlights provided by outside sources are given below:
Currency :
Year
Ending 31/12/06:
Total Revenue UAE Dh
3,700,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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Emirates
Bank International Ltd
PO Box : 2923
Deira
Tel : (971-4) 3160316
Fax : (971-4) 2264302
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, diamonds and
jewellery.
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.
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%)