MIRA
INFORM REPORT
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Report Date : |
04.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
PEARL JEWELLERY ENTERPRISES LLC |
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Registered Office : |
Gold Centre
Building, Mezzanine Floor, Suite M-24, Al Khor Street, Al Ras, Deira, PO Box 7197, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
23.05. 1982 |
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Com. Reg. No.: |
42147, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Wholesale and Retail of 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 : PEARL JEWELLERY ENTERPRISES LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 23rd May 1982
Commercial Registration Number : 42147, Dubai
Trade Licence Number : 204318
Chamber Membership Number : 8891
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 7
Activities : Wholesale and retail of jewellery.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
PEARL JEWELLERY
ENTERPRISES LLC
ADDRESS
Registered & Physical Address
Building : Gold Centre Building, Mezzanine
Floor, Suite M-24
Street : Al Khor Street
Area : Al Ras, Deira
PO Box : 7197
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2266602
Facsimile : (971-4) 2265907
Email : pearl@mikura.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
Name Nationality Position
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Chetan Fakir
Chand Karani Indian Managing
Director
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Mohamed
Abdullah Ali Emirati Director
LEGAL FORM & OWNERS
Date of Establishment : 23rd
May 1982
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 42147, Dubai
Trade Licence No. : 204318
Chamber Member No. : 8891
Issued Capital : UAE Dh 300,000
Paid up Capita l :
UAE Dh 300,000
Name of Shareholder (s) Percentage
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Mohamed
Abdullah Ali 51%
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Chetan Fakir
Chand Karani 49%
OPERATIONS
Activities: Engaged in the wholesale and retail of
jewellery.
Import
Countries: Japan and China
Subject has a
workforce of 7 employees.
FINANCIAL DATA
Companies
registered in Dubai, United Arab Emirates are not legally required to make their
accounts public and no financial information was released by the company or
submitted by outside sources.
BANKERS
·
Habib Bank AG
Zurich
Baniyas Road
PO Box 3306
Dubai
Tel: (971-4) 2214535
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
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.
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%)