MIRA
INFORM REPORT
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Report Date : |
13.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
SAMRA JEWELLERY CO LLC |
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Registered Office : |
Gold Centre, 1st Floor, Apt 18, Al Khor Street, Al Ras,
Deira, PO Box 3950 & 82684, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
11.10.1989 |
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Com. Reg. No.: |
40191, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Import, Wholesale and Retail of Jewellery, Precious Stones 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 : SAMRA JEWELLERY CO LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Start Date : 1950
Registration Date : 11th October 1989
Commercial Registration Number : 40191, Dubai
Trade Licence Number : 220977
Chamber Membership Number : 17286
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 60
Activities : Import, wholesale and retail of jewellery, precious stones and watches.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
SAMRA JEWELLERY CO LLC
ADDRESS
Registered & Physical Address
Building : Gold Centre,
1st Floor, Apt 18
Street : Al Khor
Street
Area : Al Ras,
Deira
PO Box : 3950 &
82684
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 2253331
Facsimile : (971-4)
2253382
Email : samra@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
· Gold Souq Rented
showroom premises
Sharjah
Tel: (971-6) 5335560
· Deira City Centre
Building Rented
showroom premises
Baniyas Road
Dubai
Tel : (971-4)
2262488
· Emirates Mall Rented
showroom premises
Dubai
Tel: (971-4) 3413535
· Ibn Batouta Mall Rented
showroom premises
Dubai
Tel:
(971-4) 3685660
· City Mall Rented
showroom premises
Dubai
Tel:
(971-4) 2955100
· City Mall Rented
showroom premises
Sharjah
Tel:
(971-6) 5335560
KEY PRINCIPALS
Name Nationality Position
· Salim Deeb Abu
Samra Syrian Managing
Director
· Hassan Ahmed
Mohamed Deemas Emirati Director
· Samer Salim Deeb
Abu Samra Syrian General
Manager
· Ziyad
Khoory - Retail
Manager
· Sudish
Kumar - Sales
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 1950, however
subject was registered on 11th October 1989.
Legal Form : Limited Liability
Company - LLC
Commercial Reg.
No. : 40191, Dubai
Trade Licence No. : 220977 (Expires 04/10/2008)
Chamber Member No. : 17286
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
· Hassan Ahmed
Mohamed Deemas 51%
· Salim Deeb Abu
Samra 49%
AFFILIATED COMPANIES
· Ariya Jewellery
LLC
Dubai
Tel:
(971-4) 2253897
OPERATIONS
Activities: Engaged in the import, wholesale and retail of jewellery, precious
stones and watches.
Import Countries: Europe and the Far East.
Brand Names: DESIREE
Subject has a workforce of 60 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
·
Mashreq Bank Plc
Deira Branch
PO Box : 1250
Dubai
Tel : (971-4) 2229131 / 2221134
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in 1950, subject is involved in the import and distribution
of jewellery, precious stones and watches.
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.
Please note that subject’s correct PO Box is 3950 and not 3960 as
requested.
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%)