MIRA
INFORM REPORT
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Report Date : |
04.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
BRILLIANT DIAMOND LLC |
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Registered Office : |
Gold Centre Building, 3rd Floor, Suite No. 64, Al Khor
Street, Al Ras, Deira, PO Box 42475 & 35468, 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 : |
08.08.1998 |
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Com. Reg. No.: |
51549, Dubai |
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Legal Form : |
Limited Liability
Company - LLC |
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Line of Business : |
Retail of
jewellery items and loose diamonds, precious stones, gold and silver
jewellery pieces |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Good |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : BRILLIANT DIAMOND LLC
Country of Origin : Dubai,
United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date : 8th
August 1998
Commercial
Registration Number : 51549, Dubai
Trade Licence Number : 507047
Chamber Membership
Number : 50689
Issued Capital : UAE Dh
300,000
Paid up Capital : UAE Dh
300,000
Total Workforce : 8
Activities :
Retail of jewellery items and loose diamonds, precious stones, gold and
silver jewellery pieces
Financial Condition : Good
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
BRILLIANT DIAMOND LLC
ADDRESS
Registered & Physical Address
Building : Gold Centre Building, 3rd
Floor, Suite No. 64
Street : Al Khor
Street
Area : Al Ras,
Deira
PO Box : 42475 &
35468
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2262690
Facsimile : (971-4)
2251313
Email : brildiam@emirates.net.ae
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
Name Nationality Position
· Shah Paresh
Trikamilal Indian Managing
Director
· Jassim Mohamed
Ibrahim Abdullah Al Hasawi Emirati Director
· Sanjay Jaim - Commercial
Manager
· Mr Powen - Accounts
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 8th
August 1998
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 51549, Dubai
Trade Licence No. : 507047 (Expires 07/08/2008)
Chamber Member No. : 50689
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
· Jassim Mohamed
Ibrahim Abdullah Al Hasawi 51%
· Shah Paresh
Trikamilal 49%
AFFILIATED COMPANIES
· Alukkas Jewellery
LLC
Gold Centre
Al Khor Street
Al Ras
PO Box: 12928
Dubai
Tel: (971-4) 2264103 / 2253221
Fax: (971-4) 2264932
Email: alukkas@emirates.net.ae
Mr Jassim Mohamed Ibrahim Abdullah Al Hasawi
has an interest in the above concern.
· Dia Star Gems LLC
Gold
Centre Building, Zone 5, 5th Floor, Suite No. 139
Al
Khor Street
Al
Ras, Deira
PO
Box 57908
Dubai
Tel:
(971-4) 2266086
Fax:
(971-4) 2255286
Mr
Shah Paresh Trikamilal has an interest in the above concern.
OPERATIONS
Activities: Engaged in the retail of jewellery items and loose diamonds, precious stones,
gold and silver jewellery
pieces.
Import Countries: Europe, Korea and South Africa.
Export Countries: Russia
Operating Trend: Steady
Subject has a workforce of 8 employees.
FINANCIAL DATA
Financial highlights provided by local sources are given below:
Currency: United Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/07:
Sales UAE
Dh 120,000,000
Local sources consider subject’s financial condition to be Good.
BANKERS
·
Abu Dhabi Commercial Bank
Al Rigga Road
PO Box : 5550
Dubai
Tel : (971-4)
2958888 / 3228141
Fax : (971-4) 2959310 / 3279632
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in 1998, subject is owned and managed by Mr Shah Paresh
Trikamilal, an Indian national who operates in Dubai under the local
sponsorship of Mr Jassim Mohamed Ibrahim Abdullah Al Hasawi.
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. As such the above
credit figure is deemed to be within subject’s financial means.
The financial data contained within this report has been confirmed by Mr
Powen – Accounts Manager.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.21 |
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UK Pound |
1 |
Rs.85.72 |
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Euro |
1 |
Rs.67.92 |
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%)