MIRA
INFORM REPORT
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Report Date : |
16.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
SHINEDIMON DMCC |
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Registered Office : |
Al Daghaya Building, Office No. 401, Gold Souq, Deira, PO Box 171879, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
2005 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Import and Distribution of Jewellery and Precious 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 : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : SHINEDIMON DMCC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Sole Proprietorship
Registration Date : 2005
Trade Licence Number : 030615
Invested Capital : UAE Dh 1,000,000
Total Workforce : 3
Activities : Import and distribution of jewellery and precious stones.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
SHINEDIMON DMCC
ADDRESS
Registered & Physical Address
Building : Al Daghaya
Building, Office No. 401
Area : Gold Souq,
Deira
PO Box : 171879
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 2264778
Facsimile : (971-4)
2261620
Email : salwa@pkfuae.com
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Dubai.
KEY PRINCIPALS
Name Position
· Pankaj Zaveri Proprietor
& General Manager
LEGAL FORM & OWNERS
Date of
Establishment : 2005
Legal Form : Sole
Proprietorship
Trade Licence No. : 030615
Invested Capital : UAE Dh 1,000,000
Mr Pankaj Zaveri is the sole proprietor of the business.
OPERATIONS
Activities: Engaged in the import and distribution of jewellery and precious
stones.
Import Countries: Europe and the Far East.
Subject has a workforce of 3 employees.
FINANCIAL DATA
Companies registered in Dubai are not legally required to make their
accounts public and no financial information was released by the company or
submitted by outside sources.
BANKERS
·
Emirates Bank International Ltd
Baniyas Road
PO Box : 2923
Deira
Dubai
Tel : (971-4)
2256256 / 2256900
Fax : (971-4)
2268005 / 2267718
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
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 business 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%)