MIRA
INFORM REPORT
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Report Date : |
17.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
SAJGYAN DIAM LLC |
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Registered Office : |
107 Building,
Number 9, Al Shamal, Deira, PO Box
64852, 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 : |
24.12.2005 |
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Com. Reg. No.: |
77837, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Distributors of Jewellery, Watches, Precious Stones, and
Gift Items |
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 : SAJGYAN DIAM LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 24th December 2005
Commercial Registration Number : 77837, Dubai
Trade Licence Number : 576291
Chamber Membership Number : 103397
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 7
Activities : Distributors of jewellery, watches, precious stones, and gift items.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
SAJGYAN DIAM LLC
ADDRESS
Registered & Physical Address
Building : 107 Building, Number 9
Area :
Al Shamal, Deira
PO Box :
64852
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2262206
Facsimile : (971-4) 2262206
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
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Nilis Mehawer
Ghandi Indian Managing Director
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Enkol Ajid Kumar Indian Director
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Hamda Fardan Abdullah Fardan Al Fardan Emirati Director
LEGAL FORM & OWNERS
Date of Establishment : 24th
December 2005
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 77837, Dubai
Trade Licence No. : 576291
(Expires 23/12/2009)
Chamber Member No. : 103397
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
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Hamda Fardan Abdullah Fardan Al Fardan 51%
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Nilis Mehawer
Ghandi 25%
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Enkol Ajid Kumar 24%
OPERATIONS
Activities: Engaged in the import and distribution of
jewellery, watches, precious stones, and gift items.
Import
Countries: Europe and the
Far East
Operating Trend: Steady
Subject has a
workforce of 7 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:
Total Sales UAE Dh 3,100,000 UAE Dh 3,850,000
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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Emirates Bank
International Ltd
Baniyas Road
PO Box 2923
Deira
Dubai
Tel: (971-4) 3160316
Fax: (971-4) 2264302
PAYMENT HISTORY
No complaints regarding
subject’s payments have been reported.
GENERAL COMMENTS
Established in
2005, subject is involved in the import and distribution of jewellery, watches,
precious stones, and gift items.
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.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.47.33 |
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UK Pound |
1 |
Rs.73.92 |
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Euro |
1 |
Rs.66.69 |
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%)