MIRA
INFORM REPORT
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Report Date : |
07.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
AKSHI DIAMOND & JEWELLERY LLC |
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Registered Office : |
Gold Land Building, 1st Floor, Office No. 120, Al Daghaya
Street, Al Daghaya, Deira, PO Box
54352, 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 : |
26.08.2003 |
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Com. Reg. No.: |
63910, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Import and Distribution of Jewellery, Precious Stones and Metals
and Crystal Ware. |
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 : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : AKSHI DIAMOND & JEWELLERY LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 26th August 2003
Commercial Registration Number : 63910, Dubai
Trade Licence Number : 548376
Chamber Membership Number : 80359
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 4
Activities : Import and distribution of jewellery, precious stones and metals and crystal ware.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
AKSHI DIAMOND & JEWELLERY LLC
ADDRESS
Registered & Physical Address
Building : Gold Land
Building, 1st Floor, Office No. 120
Street : Al Daghaya
Street
Area : Al Daghaya,
Deira
PO Box : 54352
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 2351526
Facsimile : (971-4)
2351527
Email : akshi@emirates.net.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
Name Nationality Position
· Haresh Kumar
Jayantilal Indian Managing
Director
· Ali Yousuf Moosa
Yousuf Al Marzouqi Emirati Director
· Jagdish Patel - Sales
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 26th
August 2003
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 63910, Dubai
Trade Licence No. : 548376 (Expires 25/08/2008)
Chamber Member No. : 80359
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
· Ali Yousuf Moosa
Yousuf Al Marzouqi 51%
· Haresh Kumar
Jayantilal 49%
OPERATIONS
Activities: Engaged in the import and distribution of jewellery, precious stones
and metals and crystal ware.
Import Countries: Europe and the Far East.
Operating Trend: Steady
Subject has a workforce of 4 employees.
FINANCIAL DATA
Financial highlights provided by local sources are given below:
Currency: United Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/07:
Sales UAE
Dh 8,100,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
BANKERS
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Standard Chartered Bank
Khalid Bin Waleed
Street
PO Box : 999
Dubai
Tel : (971-4)
2520455
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in 2003, subject is owned and managed by Mr Haresh Kumar
Jayantilal, an Indian national who operates in Dubai under the local
sponsorship of Mr Ali Yousuf Moosa Yousuf Al Marzouqi.
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. |
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%)