MIRA
INFORM REPORT
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Report Date : |
03.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
RIVOLI GROUP LLC |
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Registered Office : |
Rivoli Building,
Mezzanine Floor, Al Fahidi Street, Bur Dubai, PO Box 121, 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 : |
01.01.1965 |
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Com. Reg. No.: |
45352, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Wholesale and retail of textiles, ready made garments,
footwear, jewellery, spectacles,
watches, tableware, leather products and writing instruments |
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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Maximum Credit Limit : |
US$ 200,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : RIVOLI GROUP LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 1st January 1965
Commercial Registration Number : 45352, Dubai
Trade Licence Number : 203260
Chamber Membership Number : 694
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 26
Activities : Wholesale and retail of textiles, ready made garments, footwear, jewellery, spectacles, watches, tableware, leather products and writing instruments
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
COMPANY NAME
RIVOLI GROUP LLC
ADDRESS
Registered & Physical Address
Building : Rivoli Building, Mezzanine Floor
Street : Al Fahidi Street
Area : Bur Dubai
PO Box : 121
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3538225
/ 3531400
Facsimile : (971-4) 3537876
/ 3534992
Email : rivolitx@emirates.net.ae
Premises
Subject operates
from a medium sized suite of offices and a showroom that are owned and located
in the Central Business Area of Dubai.
KEY PRINCIPALS
Name Position
·
Abdulaziz Al Zarouni Managing
Director
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Adel Al Zarouni Director
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Sunil Chadda Commercial
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1st
January 1965
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 45352, Dubai
Trade Licence No. : 203260
Chamber Member No. : 694
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s)
·
Abdulaziz
Al Zarouni
·
Adel Al
Zarouni
OPERATIONS
Activities: Engaged in the wholesale and retail of
textiles, ready made garments, footwear, jewellery, spectacles,
watches, tableware, leather
products and writing instruments.
Import
Countries: Europe and GCC
countries
Brand Names: SWATCH,
TABLE ART, OMEGA, MONTEGRAPPA, MONT BLANC, JM WESTON, IWC, HOUR
CHOICE, GLITTER, EDEN PARK, DUNHILL, CARL F
BUCHERER, BANG & OLUFSEN, and VERTU
Operating Trend: Steady
Subject has a
workforce of 26 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency: United
Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/07 :
Total Sales UAE
Dh 9,500,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
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
1965, subject is involved in the wholesale and retail of textiles, ready made
garments, footwear, jewellery, spectacles, watches, tableware, leather products
and writing instruments.
Local sources
report that payment obligations are met in a generally timely manner and the
operating history is clear. As such the company is deemed a fair trade risk and
the above credit figure is considered to be within subject’s financial means.
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%)