MIRA
INFORM REPORT
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Report Date : |
18.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
ROSA GEMS DMCC |
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Registered Office : |
Gold Land Building, 1st Floor, Office No. 123, PO Box 119654, 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 : |
03.04.2005 |
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Com. Reg. No.: |
30164, DMCC |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Traders of Gems, Diamonds and
Jewellery 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 : ROSA GEMS DMCC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company
Registration Date : 3rd April 2005
Commercial Registration Number : 30164, DMCC
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 4
Line of Business : Traders of gems, diamonds and jewellery items.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
ROSA GEMS DMCC
ADDRESS
Registered & Physical Address
Location : Gold Land
Building, 1st Floor, Office No. 123
PO Box : 119654
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 2352299
Facsimile : (971-4) 2353583
Email : rosagems@hotmail.com
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
· Dori
Shatila Managing
Director
· Joe
Azaar Director
· Alaa
Hashim General
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 3rd
April 2005
Legal Form : Limited Liability
Company
Commercial Reg.
No. : 30164, DMCC
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s)
· Dori
Shatila
· Joe
Azaar
LINE OF BUSINESS
Operations: Traders of gems, diamonds and jewellery
items.
Import Countries: South Africa, United Kingdom, Thailand and India.
Operating Trend : Steady
Subject has a workforce of 4 employees.
FINANCIAL HIGHLIGHTS
Financial highlights provided by outside sources are given below :
Currency : United Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/06: Year
Ending 31/12/07:
Total Revenue UAE
Dh 3,720,000 UAE Dh
4,390,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
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Mashreq Bank Plc
Deira Branch
PO Box : 1250
Dubai
Tel : (971-4)
2229131 / 2221134
Fax : (971-4)
2233784
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Rosa Gems DMCC is a relatively new business with operations
commencing in April 2005. It is engaged as traders of
gems, diamonds and jewellery items.
According to local sources subject is making steady
progress in the local business market and nothing detrimental has been reported
regarding the manner in which payments are fulfilled. As such the company 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%)