MIRA
INFORM REPORT
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Report Date : |
17.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
SOCIETY ALLURE DMCC |
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Registered Office : |
New Auto Centre
Building, Office No. 210, Plot No. 129-364, Port Saeed Road, PO Box 54475, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
02.05.2005 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Distributors of Loose Diamonds And Jewellery. |
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 : SOCIETY ALLURE DMCC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company
Registration Date : 2nd May 2005
Trade Licence Number : 30179
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 2
Line of Business : Distributors of loose diamonds and jewellery.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
COMPANY NAME
SOCIETY ALLURE DMCC
ADDRESS
Registered & Physical Address
Location : New Auto Centre Building, Office
No. 210, Plot No. 129-364
Street : Port Saeed Road
PO Box : 54475
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2995941
Facsimile : (971-4) 2995942
Mobile : (971-50) 3452478
Premises
Subject operates from
a small suite of offices that are rented located in the Central Business Area
of Dubai.
KEY PRINCIPALS
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Manesh Trivedi Managing
Director
LEGAL FORM & OWNERS
Date of
Establishment : 2nd May 2005
Legal Form :
Limited Liability Company
Trade Licence No. : 30179
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
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Manesh Trivedi 100%
AFFILIATED COMPANIES
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Rolling Stones
Assets
Jebel Ali Free Zone
Dubai
LINE OF BUSINESS
Operations : Engaged in the import and distribution of
loose diamonds and jewellery.
Import Countries
: Europe and the Far East.
Subject has a
workforce of 2 employees.
FINANCIAL HIGHLIGHTS
Financial highlights
provided by outside sources are given below :
Currency : United
Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/06 :
Total Revenue UAE Dh 4,200,000
Local sources
consider subject’s financial condition to be Fair.
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 loose diamonds and
jewellery.
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.
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%)