MIRA
INFORM REPORT
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Report Date : |
18.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
DHAMANI JEWELS LLC |
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Registered
Office : |
New Gold Centre, Zone
III, 6th Floor, Office No. 150, Al Khor Street, Al Ras, Deira, P O
Box – 39237, Dubai, |
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Country : |
United Arab Emirates |
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Date of
Incorporation : |
01.10.1998 |
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Com. Reg. No.: |
51788, Dubai |
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Legal Form : |
Limited Liability
Company - LLC |
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Line of Business
: |
Wholesale and Retail of Jewellery,
Diamonds, Precious Stones, Pearls and Watches |
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 :
DHAMANI JEWELS LLC
Country of Origin :
Dubai, United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Start Date :
1969
Registration Date :
1st October 1998
Commercial Registration Number :
51788, Dubai
Trade Licence Number :
507949
Chamber Membership Number :
51340
Issued Capital :
UAE Dh 300,000
Paid up Capital :
UAE Dh 300,000
Total Workforce :
55
Activities :
Wholesale and retail of jewellery, diamonds, precious stones, pearls
and
watches
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
COMPANY NAME
DHAMANI JEWELS LLC
ADDRESS
Registered & Physical Address
Building : New Gold
Centre, Zone III, 6th Floor, Office No. 150
Street : Al Khor
Street
Area : Al Ras,
Deira
PO Box : 39237
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 2262558
/ 2262559
Facsimile : (971-4)
2262557
Email : dhamani@emirates.net.ae
Premises
Subject operates from a medium sized suite of offices and a showroom
that are rented and located in the Central Business Area of Dubai.
Branch Office (s)
Location Description
The Gold Centre Rented
showroom premises
Deira
Dubai
Tel: (971-4) 2251052
M.M. Towers Rented
showroom premises
Al Maktoum Street
Deira
Dubai
Tel: (971-4) 2292607
Gold Land Building Rented
showroom premises
Deira
Dubai
Tel: (971-4) 2291643
Al Shamal Building Rented
showroom premises
Dubai
Tel: (971-4) 2252396
Al Maydan Center Rented
showroom premises
Nasser Square
Deira
Dubai
Tel: (971-4) 2225630
KEY PRINCIPALS
Name Nationality Position
Amit Dhamani Indian Managing Director
Nupur Dhamani Indian Director
Jassim Yousuf Jassim Al Hamadi Emirati Director
Naser Al Huda - Commercial
Manager
K. Stuart - Finance
Manager
Javid Sheikh - Import &
Export Manager
LEGAL FORM &
OWNERS
Date of Establishment : Subject’s operations
date back to 1969, however it was registered on 1st October 1998
Legal Form : Limited Liability
Company - LLC
Commercial Reg. No. : 51788, Dubai
Trade Licence No. : 507949 (Expires
25/09/2008)
Chamber Member No. : 51340
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder
(s) Percentage
Jassim Yousuf Jassim Al Hamadi 51%
Amit Dhamani 39%
Nupur Dhamani 10%
AFFILIATED COMPANIES
Al Mahaba Jewellery LLC
Essa Ibrahim Lootah Building
Al Ras Street
Al Ras, Deira
PO Box: 7419
Dubai
Tel: (971-4) 2291039
Fax: (971-4) 2290875
Email: piya@emirates.net.ae
Dhamani Jewels FZCO
Gold & Diamond Park
Dubai
Tel: (971-4) 3405070
OPERATIONS
Activities: Engaged in the wholesale and retail of jewellery, diamonds, precious
stones, pearls and watches.
Import Countries: Europe and the Far East
Subject has a workforce of 55 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
Emirates Bank International Ltd
Baniyas Road
PO Box : 2923
Deira
Dubai
Tel : (971-4) 2256256 / 2256900
Fax : (971-4) 2268005 / 2267718
The Standard Chartered Bank
Khalid Bin Waleed Street
Mankhool Branch
PO Box : 999
Dubai
Tel : (971-4) 2520455
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in 1969, subject is owned and managed by Mr Amit Dhamani and
Mr Nupur Dhamani who are Indian nationals operating in Dubai under the local
sponsorship of Mr Jassim Yousuf Jassim Al Hamadi.
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.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.42.78 |
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UK Pound |
1 |
Rs.85.51 |
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Euro |
1 |
Rs.67.90 |
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%)