MIRA
INFORM REPORT
|
Report Date : |
11.06.2008 |
IDENTIFICATION
DETAILS
|
Name : |
STERLING STAR TRADING LLC |
|
|
|
|
Registered Office : |
Al Shammal Building, 1st Floor, Suite No. 3, Gold Souk,
Deira, PO Box 181330, Dubai |
|
|
|
|
Country : |
United Arab Emirates |
|
|
|
|
Financials (as on) : |
31.12.2007 |
|
|
|
|
Date of Incorporation : |
29.02.2004 |
|
|
|
|
Com. Reg. No.: |
66243, Dubai |
|
|
|
|
Legal Form : |
Limited Liability Company - LLC |
|
|
|
|
Line of Business : |
Wholesale and retail of jewellery, pearls and precious stones, watches, giftware and crystal ware |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name : STERLING STAR TRADING LLC
Country of Origin :
Dubai, United Arab Emirates
Legal Form :
Limited Liability Company - LLC
Registration Date :
29th February 2004
Commercial Registration Number :
66243, Dubai
Trade Licence Number :
554040
Chamber Membership Number :
84846
Issued Capital :
UAE Dh 300,000
Paid up Capital :
UAE Dh 300,000
Total Workforce :
Wholesale and retail of jewellery, pearls and precious stones, watches,
giftware and crystal ware
Activities :
5
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
STERLING STAR TRADING LLC
ADDRESS
Registered &
Physical Address
Building : Al Shammal
Building, 1st Floor, Suite No. 3
Area : Gold Souk,
Deira
PO Box : 181330
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 2351841
Facsimile : (971-4)
2351842
Email : sterlingstar@hotmail.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
Behavish Dipak Jafiri Indian Managing Director
Ahmad Abdullah Fardan Al Fardan
Emirati Director
LEGAL FORM & OWNERS
Date of Establishment : 29th
February 2004
Legal Form : Limited Liability
Company - LLC
Commercial Reg. No. : 66243, Dubai
Trade Licence No. : 554040 (Expires
27/02/2011)
Chamber Member No. : 84846
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of
Shareholder (s) Percentage
Ahmad Abdullah Fardan Al Fardan 51%
Behavish Dipak Jafiri 49%
OPERATIONS
Activities: Engaged in the wholesale and retail of jewellery, pearls and precious
stones, watches, giftware and crystal ware.
Import Countries: India, Thailand and Sri Lanka
Operating Trend: Steady
Subject has a workforce of 5 employees.
FINANCIAL DATA
Financial highlights provided by local sources are given below:
Currency: United Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/06: Year
Ending 31/12/07:
Total Sales UAE
Dh 38,000,000 UAE Dh
43,500,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures were confirmed by Mr Behavish Dipak Jafiri,
Managing Director.
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.
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)