MIRA
INFORM REPORT
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Report Date : |
10.10.2007 |
IDENTIFICATION DETAILS
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Name : |
A R GEMS DMCC |
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Registered Office : |
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Country : |
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Date of Incorporation : |
7th May 2006 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the
wholesale and retail 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. |
Small |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : A R GEMS DMCC
Country of Origin :
Legal Form : Sole Proprietorship
Registration Date : 7th May 2006
Trade Licence Number : 30496
Membership Number : 0753
Invested Capital : UAE Dh 100,000
Total Workforce : 3
Line of Business : Wholesalers and retailers of diamonds and other coloured stones.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
A R GEMS DMCC
ADDRESS
Registered & Physical Address
Building : Ahmed Mohamed Saleh Building, 2nd
Floor, Office No. 201
Area : Deira
Town :
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
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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 3 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
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. |
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%)