MIRA
INFORM REPORT
|
Report Date : |
10.01.2008 |
IDENTIFICATION
DETAILS
|
Name : |
VARUN TRADING CO
DMCC |
|
|
|
|
Registered Office : |
Amidas Tower,
Level 41, Sheikh Zayed Road, P O Box 57648, Dubai |
|
|
|
|
Country : |
United Arab
Emirates |
|
|
|
|
Date of Incorporation : |
7th June 2007 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Engaged in the
import and distribution of jewellery, gold and loose diamonds. |
RATING &
COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
Status : |
New & Small Company |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name : VARUN TRADING CO DMCC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company
Registration Date : 7th June 2007
Trade Licence Number : 30713
Membership Number : 0981
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 4
Line of Business : Distributors of jewellery, gold and loose diamonds.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
VARUN TRADING CO
DMCC
ADDRESS
Registered & Physical Address
Building : Amidas Tower, Level 41
Street : Sheikh Zayed Road
PO Box : 57648
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3325657
Facsimile : (971-4) 2264346
Mobile : (971-50) 7987501
Premises
Subject operates from
a small suite of offices that are rented and located in the Central Business
Area of Dubai.
Branch Offices
Location Description
·
102 Miram
Building Office
premises
Plot No. 113/131
Al Daghaya Road
Deira
Dubai
Tel : (971-4) 2264346
KEY PRINCIPALS
·
Rajesh R Shah Managing
Director
LEGAL FORM & OWNERS
Date of Establishment : 7th
June 2007
Legal Form :
Limited Liability Company
Trade Licence No. : 30713
Membership No. : 0981
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s)
Percentage
·
Rajesh R Shah 100%
LINE OF BUSINESS
Operations : Engaged in the import and distribution of
jewellery, gold and loose diamonds.
Import Countries
: Europe and the Far East.
Subject has a
workforce of 4 employees.
FINANCIAL HIGHLIGHTS
Subject is a newly
formed business and as a result financial information is not currently
available.
BANKERS
·
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
Investigations
undertaken in Dubai did not reveal any sign of payment defaults or delays
during initial trading stages, and subject is believed to meet its payment
obligations in a timely manner, nevertheless, and in view of the company’s
infancy and the lack of a more consistent payment and financial record, a
measure of caution is advisable and a close monitoring of subject’s business
development is recommended.
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)