MIRA
INFORM REPORT
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Report Date : |
17.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
ARPEE GEMS DMCC |
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Registered Office : |
317 Gold Land,
Plot No. 50, Daghaya Street, PO Box 54324, Dubai |
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Country : |
United Arab Emirates |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
3rd September 2003 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Distributors of Jewellery, Gold and Precious Stones. |
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 : ARPEE GEMS DMCC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company
Registration Date : 3rd September 2003
Trade Licence Number : 30023
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 3
Line of Business : Distributors of jewellery, gold and precious stones.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
ARPEE GEMS DMCC
ADDRESS
Registered & Physical Address
Location : 317 Gold Land, Plot No. 50
Street : Daghaya Street
PO Box : 54324
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2255771
Facsimile : (971-4) 2262126
Mobile : (971-50) 5582101
Email : arpeegems@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
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Bhavan Mehta Managing
Director
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Rajesh Rathod General
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 3rd
September 2003
Legal Form :
Limited Liability Company
Trade Licence No. : 30023
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
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Bhavan Mehta 100%
AFFILIATED COMPANIES
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Adesh
International
Mumbai
India
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Gems Bel
Antwerp
Belgium
LINE OF BUSINESS
Operations : Engaged in the import and distribution of
jewellery, gold and precious stones.
Import Countries
: Europe and the Far East.
Operating Trend : Steady
Subject has a
workforce of 3 employees.
FINANCIAL HIGHLIGHTS
Financial highlights
provided by outside sources are given below :
Currency : United
Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/05 : Year
Ending 31/12/06 :
Total Sales UAE Dh 4,620,000 UAE Dh
4,750,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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National Bank
of Dubai
Baniyas Street
PO Box : 777
Dubai
Tel : (971-4) 2222241
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in 2003,
subject is involved in the import and distribution of jewellery, gold and
precious stones.
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.
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%)