MIRA INFORM REPORT
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Report Date : |
18.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
RUTH DIAMONDS LLC |
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Registered Office : |
333 Gold Lane Building, Gold Souk, PO Box 32806, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
29.07.2007 |
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Com. Reg. No.: |
1014012, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Distributors of Jewellery, Precious Stones, Crystal Products 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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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : RUTH DIAMONDS LLC
Country of Origin :
Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date :
29th July 2007
Commercial Registration Number :
1014012, Dubai
Trade Licence Number :
598654
Chamber Membership Number :
122097
Issued Capital :
UAE Dh 300,000
Paid up Capital :
UAE Dh 300,000
Total Workforce :
12
Activities :
Distributors of jewellery, precious stones, crystal products and watches.
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
COMPANY NAME
RUTH DIAMONDS LLC
ADDRESS
Registered &
Physical Address
Location : 333 Gold Lane
Building
Area : Gold Souk
PO Box : 32806
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3392234
Facsimile : (971-4)
3392236
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
· Samir Kirttkumar
Kapasi Indian Managing Director
· Jignesh Shah Indian Director
LEGAL FORM & OWNERS
Date of
Establishment : 29th
July 2007
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 1014012, Dubai
Trade Licence No. : 598654 (Expires 25th July 2009)
Chamber Member No. : 122097
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
· Al Buraq
Investment LLC 51%
· Samir Kirttkumar
Kapasi 25%
· Jignesh Shah 24%
OPERATIONS
Activities: Engaged in the import and distribution of jewellery, precious stones,
crystal products and watches.
Import Countries: Europe and the Far East.
Subject has a workforce of 12 employees.
FINANCIAL DATA
Companies registered in Dubai, United Arab Emirates are not legally required
to make their accounts public and no financial information was released by the
company or submitted by outside sources.
BANKERS
·
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
Established in 2007, subject is involved in the import and distribution
of jewellery, precious stones, crystal products and watches.
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.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.23 |
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UK Pound |
1 |
Rs.80.89 |
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Euro |
1 |
Rs.63.80 |
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%)