MIRA
INFORM REPORT
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Report Date : |
18.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
TARADIAM MIDDLE EAST FZE |
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Registered Office : |
Dubai Airport
Free Zone, West Site, 3W/122, PO Box
54432, 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 : |
13.01.2004 |
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Legal Form : |
Free Zone Establishment - FZE |
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Line of Business : |
Traders of Diamonds and
Jewellery. Also offers Diamond Polishing Services. |
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 : TARADIAM MIDDLE EAST FZE
Country of Origin : Dubai, United Arab Emirates
Legal Form : Free Zone Establishment - FZE
Registration Date : 13th January 2004
Trade Licence Number : 0353, DAFZA
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Total Workforce : 3
Activities :
Traders of diamonds and jewellery. Subject also
offers diamond polishing services.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
TARADIAM MIDDLE EAST FZE
ADDRESS
Registered & Physical Address
Location : Dubai Airport Free Zone, West
Site, 3W/122
PO Box : 54432
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2996781
Facsimile : (971-4) 2997335
Mobile : (971-50) 5041938
Premises
Subject operates
from a small suite of offices that are rented and located in the Dubai Airport
Free Zone.
KEY PRINCIPALS
Name Position
·
Chirag
Doshi Managing
Director
LEGAL FORM & OWNERS
Date of Establishment : 13th
January 2004
Legal Form :
Free Zone Establishment -
FZE
Trade Licence No. : 0353, DAFZA
Issued Capital : UAE Dh 150,000
Paid up Capital : UAE Dh 150,000
Name of Shareholder (s) Percentage
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Chirag
Doshi 100%
OPERATIONS
Activities: Engaged as traders
of diamonds and jewellery. Subject also offers diamond polishing services.
Import
Countries: South Africa and
Asia
Operating Trend: Steady
Subject has a
workforce of 3 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
12,100,000 UAE Dh
15,000,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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Habib Bank Ltd
Trade Service Centre
Murshid Bazaar
PO Box : 888
Dubai
Tel : (971-4) 2221281
Fax : (971-4) 2284631
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
company is considered to be a fair trade risk.
The financial
information contained within this report has been verified by Chirag Doshi – 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%)