MIRA
INFORM REPORT
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Report Date : |
18.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
GOLDEN STOCK ELECTRONICS LLC |
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Registered Office : |
M.M. Tower,
Office No. 1204, Al Maktoum Street, Rigga Al Bateen, Deira, PO Box 94157 & 49524, 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 : |
28.05.2003 |
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Com. Reg. No.: |
62813, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Wholesale of Mobile Phones, Electronic Goods, and Computer
Software and Hardware |
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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Maximum Credit Limit : |
US$ 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : GOLDEN STOCK ELECTRONICS LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 28th May 2003
Commercial Registration Number : 62813, Dubai
Trade Licence Number : 545499
Chamber Membership Number : 78061
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 5
Activities : Wholesale of mobile phones, electronic goods, and computer software and hardware
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
GOLDEN STOCK
ELECTRONICS LLC
ADDRESS
Registered & Physical Address
Building : M.M. Tower, Office No. 1204
Street :
Al Maktoum Street
Area : Rigga Al Bateen, Deira
PO Box : 94157 & 49524
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2287676
Facsimile : (971-4) 2281890
Mobile : (971-50) 6537975
Email : goldenstock@gmail.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 Nationality Position
·
Jayesh
Ramatlal Desai Indian Managing Director
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Adel Ahmad
Mohamed Bakhit Emirati Director
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Ahmad Adel
Ahmad Mohamed Ahmad Bakhit Emirati Director
LEGAL FORM & OWNERS
Date of Establishment : 28th
May 2003
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 62813, Dubai
Trade Licence No. : 545499
(Expires 27/05/2009)
Chamber Member No. : 78061
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
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Jayesh
Ramatlal Desai 49%
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Adel Ahmad
Mohamed Bakhit 49%
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Ahmad Adel
Ahmad Mohamed Ahmad Bakhit 2%
OPERATIONS
Activities: Engaged in the wholesale of mobile phones,
electronic goods, and computer software and hardware.
Import
Countries: India and Europe
Operating Trend: Steady
Subject has a workforce
of 5 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 9,000,000 UAE Dh 11,000,000
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
Al Nasr Square
PO Box 2923
Dubai
Tel: (971-4) 2281181
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.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.47.28 |
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UK Pound |
1 |
Rs.73.43 |
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Euro |
1 |
Rs.68.22 |
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%)