MIRA
INFORM REPORT
|
Report Date : |
25.06.2008 |
IDENTIFICATION
DETAILS
|
Name : |
EVERSHINE JEWELLERY LLC |
|
|
|
|
Registered Office : |
Al Fardan Real Estate
Building, Al Suq Street, Al Souq Al Kabir, PO Box 42957 & 64582, Dubai |
|
|
|
|
Country : |
United Arab Emirates |
|
|
|
|
Date of Incorporation : |
01.06.2002 |
|
|
|
|
Com. Reg. No.: |
59449, Dubai |
|
|
|
|
Legal Form : |
Limited Liability Company - LLC |
|
|
|
|
Line of Business : |
Wholesale and Retail of Jewellery Items, Pearls and
Precious Stones |
RATING &
COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
Maximum Credit Limit : |
US$ 100,000 |
|
|
|
|
Status : |
Small Company |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name : EVERSHINE JEWELLERY LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 1st June 2002
Commercial Registration Number : 59449, Dubai
Trade Licence Number : 534529
Chamber Membership Number : 69330
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 2
Activities : Wholesale and retail of jewellery items, pearls and precious stones
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 100,000
COMPANY NAME
EVERSHINE JEWELLERY
LLC
ADDRESS
Registered & Physical Address
Building : Al Fardan Real Estate Building
Street : Al Suq Street
Area : Al Souq Al Kabir
PO Box : 42957 & 64582
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 3522710 / 3597401 / 2277409
Facsimile : (971-4) 3559460 / 3559465
Mobile : (971-50)
Email : cbbatra@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
·
Chander
Bhushan Patra Indian Managing Director
·
Ahmad Ali
Hassan Ali Al Balooshi Emirati Director
LEGAL FORM & OWNERS
Date of Establishment : 1st
June 2002
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 59449, Dubai
Trade Licence No. : 534529
Chamber Member No. : 69330
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
·
Ahmad Ali
Hassan Ali Al Balooshi 51%
·
Chander
Bhushan Patra 49%
OPERATIONS
Activities: Engaged in the wholesale and retail of
jewellery items, pearls and precious stones.
Subject has a
workforce of 2 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.
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%)