MIRA
INFORM REPORT
|
Report Date : |
08.04.2008 |
IDENTIFICATION
DETAILS
|
Name : |
DIA STAR GEMS LLC |
|
|
|
|
Registered Office : |
Gold Centre Building, Zone 5, 5th Floor, Suite No. 139, Al
Khor Street, Al Ras, Deira, PO Box
57908, Dubai |
|
|
|
|
Country : |
United Arab Emirates |
|
|
|
|
Financials (as on) : |
31.12.2007 |
|
|
|
|
Date of Incorporation : |
18.10.2004 |
|
|
|
|
Com. Reg. No.: |
70420, Dubai |
|
|
|
|
Legal Form : |
Limited Liability Company - LLC |
|
|
|
|
Line of Business : |
Import and Distribution of Watches, Jewellery, Precious
Stones and Gift Items. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
US$ 300,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name : DIA STAR GEMS LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 18th October 2004
Commercial Registration Number : 70420, Dubai
Trade Licence Number : 562413
Chamber Membership Number : 91776
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 6
Activities : Import and distribution of watches, jewellery, precious stones and gift items.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 300,000
COMPANY NAME
DIA STAR GEMS LLC
ADDRESS
Registered & Physical Address
Building : Gold Centre
Building, Zone 5, 5th Floor, Suite No. 139
Street : Al Khor
Street
Area : Al Ras,
Deira
PO Box : 57908
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 2266086
Facsimile : (971-4)
2255286
Mobile : (971-50)
6548501
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
· Keyyr Amrutlal
Modi Indian Managing
Director
· Shah Paresh
Trikamilal Indian Director
· Hamdan Mohamed
Essa Al Samt Emirati Director
· Mr Powen - Accounts
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 18th
October 2004
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 70420, Dubai
Trade Licence No. : 562413 (Expires 16/10/2008)
Chamber Member No. : 91776
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
· Hamdan Mohamed
Essa Al Samt 51%
· Shah Paresh
Trikamilal
25%
· Keyyr Amrutlal
Modi 24%
AFFILIATED COMPANIES
· Brilliant Diamond
LLC
Gold
Centre Building, 3rd Floor, Suite No. 64
Al
Khor Street
Al
Ras, Deira
PO
Box 42475 & 35468
Dubai
Tel:
(971-4) 2262690
Fax:
(971-4) 2251313
Mr
Shah Paresh Trikamilal has an interest in the above concern.
OPERATIONS
Activities: Engaged in the import and distribution of watches, jewellery, precious
stones and gift items.
Import Countries: Europe and the Far East.
Operating Trend: Steady
Subject has a workforce of 6 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 34,000,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
·
Commercial Bank of Dubai
Baniyas Street
PO Box : 1709
Deira
Dubai
Tel : (971-4)
2227121 / 2253222
Fax : (971-4)
2220943 / 2254565
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in 2004, subject is owned and managed by two Indian
nationals who operate in Dubai under the local sponsorship of Mr Hamdan Mohamed
Essa Al Samt.
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. As such the above
credit figure is deemed to be within subject’s financial means.
The financial data contained within this report has been confirmed by Mr
Powen – Accounts Manager.
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)