MIRA
INFORM REPORT
|
Report Date : |
27.06.2008 |
IDENTIFICATION
DETAILS
|
Name : |
INFINITY DIAMONDS LLC |
|
|
|
|
Registered Office : |
Gold House
Building, 4th Floor, Suite No. 410, Deira, PO Box 42690, Dubai |
|
|
|
|
Country : |
United Arab Emirates |
|
|
|
|
Date of Incorporation : |
17.09.2001 |
|
|
|
|
Com. Reg. No.: |
57391, Dubai |
|
|
|
|
Legal Form : |
Limited Liability Company - LLC |
|
|
|
|
Line of Business : |
Wholesale and Retail of Jewellery Items, Pearls and Precious
Stones, Watches and Spare Parts |
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 |
|
Status : |
Small Company |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name : INFINITY DIAMONDS LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 17th September 2001
Commercial Registration Number : 57391, Dubai
Trade Licence Number : 528930
Chamber Membership Number : 23134
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 3
Activities : Wholesale and retail of jewellery items, pearls and precious stones, watches and spare parts
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
INFINITY DIAMONDS LLC
ADDRESS
Registered & Physical Address
Building : Gold House Building, 4th Floor,
Suite No. 410
Area : Deira
PO Box : 42690
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2265444
Facsimile : (971-4) 2268154
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
·
Zaid Rizwan
Ahmad Pakistan Managing Director
·
Majid Obaid
Juma Majid Al Falasi Emirati Director
LEGAL FORM & OWNERS
Date of Establishment : 17th
September 2001
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 57391, Dubai
Trade Licence No. : 528930
(Expires 02/09/2008)
Chamber Member No. : 23134
Issued Capital : UAE Dh 300,000
Paid up Capital :
UAE Dh 300,000
Name of Shareholder (s) Percentage
·
Majid Obaid
Juma Majid Al Falasi
51%
·
Zaid Rizwan
Ahmad 49%
OPERATIONS
Activities: Engaged in the wholesale and retail of
jewellery items, pearls and precious stones, watches and spare
parts.
Import
Countries: Africa and Asia
Subject has a
workforce of 3 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.
Local sources
contacted the subject but Mr Zaid Rizwan Ahmad refused to divulge any financial
information.
BANKERS
·
Commercial
Bank of Dubai
Mankhool Street
PO Box : 2668
Dubai
Tel : (971-4) 3523355
Fax : (971-4) 3527655 / 2524796
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.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.42.79 |
|
UK Pound |
1 |
Rs.85.04 |
|
Euro |
1 |
Rs.67.39 |
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%)