MIRA
INFORM REPORT
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Report Date : |
03.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
AKA DIAMOND LLC |
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Registered Office : |
Gold Centre Building, 6th Floor, Suite No. 157, Sikkat Al
Khail Street, Gold Souq, Deira, PO Box 62596, Dubai |
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Country : |
United Arab Emirates |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
19.11.2001 |
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Com. Reg. No.: |
57926, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Import and Distribution of Jewellery, Diamonds, Precious
Stones and Watches. |
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$ 200,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : AKA DIAMOND LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 19th November 2001
Commercial Registration Number : 57926, Dubai
Trade Licence Number : 530400
Chamber Membership Number : 66006
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 5
Activities : Import and distribution of jewellery, diamonds, precious stones & watches.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
COMPANY NAME
AKA DIAMOND LLC
ADDRESS
Registered & Physical Address
Building : Gold Centre
Building, 6th Floor, Suite No. 157
Street : Sikkat Al
Khail Street
Area : Gold Souq,
Deira
PO Box : 62596
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 2253414
Facsimile : (971-4)
2253431
Email : akadiam@eim.ae
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
· Amish Anil Mehta Indian Managing Director
· Mohamed Jawad
Abdul Redha Kazim Emirati Director
LEGAL FORM & OWNERS
Date of
Establishment : 19th
November 2001
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 57926, Dubai
Trade Licence No. : 530400 (Expires 16/11/2008)
Chamber Member No. : 66006
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
· Mohamed Jawad
Abdul Redha Kazim 51%
· Amish Anil Mehta 49%
OPERATIONS
Activities: Engaged in the import and distribution of jewellery, diamonds, precious
stones and watches.
Import Countries: Europe and the Far East.
Operating Trend: Steady
Subject has a workforce of 5 employees.
FINANCIAL DATA
Financial highlights provided by local sources are given below:
Currency: United Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/06: Year
Ending 31/12/07:
Sales UAE
Dh 15,000,000 UAE Dh
17,000,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
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National Bank of Dubai
Baniyas Street
PO Box :
777
Dubai
Tel :
(971-4) 2222241
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 150,000:
Established in 2001, subject is involved in the import and distribution
of jewellery, precious stones and watches.
Local sources report that the subject’s operating history is clear with
payment obligations met in a generally timely manner. The financial position is
satisfactory and the company is deemed a fair trade risk.
The financial information contained in this report has been confirmed by
Mr Amish Anil Mehta, Managing Director.
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%)