MIRA
INFORM REPORT
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Report Date : |
27.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
MASOUD JAVAHERIAN JEWELLERY LLC |
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Registered Office : |
Gold Land
Building, Mezzanine Floor, Suite M-5, Gold
Souq, Deira, PO Box 112425, Dubai |
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Country : |
United Arab Emirates |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
15.11.2003 |
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Com. Reg. No.: |
64846, Dubai |
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Legal Form : |
Limited Liability Company - LLC |
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Line of Business : |
Wholesale and Retail of Jewellery Items, Pearls and
Precious Stones |
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 : MASOUD JAVAHERIAN JEWELLERY LLC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company - LLC
Registration Date : 15th November 2003
Commercial Registration Number : 64846, Dubai
Trade Licence Number : 550767
Chamber Membership Number : 82305
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 5
Activities : Wholesale and retail of jewellery items, pearls and precious stones
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
MASOUD JAVAHERIAN
JEWELLERY LLC
ADDRESS
Registered & Physical Address
Building : Gold Land Building, Mezzanine
Floor, Suite M-5
Area : Gold Souq, Deira
PO Box : 112425
Town : Dubai
Country : United Arab Emirates
Telephone : (971-4) 2259908
Facsimile : (971-4) 2258554
Mobile : (971-50) 3525591
Email : mjavaherian@yahoo.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
·
Masoud Abbas
Javaherian Iranian Managing
Director
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Sayed Ali
Asghar Sayed Shir Ali Sayed Iranian Director
·
Ali Hassan
Salman Nasser Emirati Director
LEGAL FORM & OWNERS
Date of Establishment : 15th
November 2003
Legal Form :
Limited Liability Company -
LLC
Commercial Reg. No. : 64846, Dubai
Trade Licence No. : 550767
(Expires 11/11/2011)
Chamber Member No. : 82305
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s) Percentage
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Ali Hassan
Salman Nasser 51%
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Masoud Abbas
Javaherian 25%
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Sayed Ali
Asghar Sayed Shir Ali Sayed 24%
OPERATIONS
Activities: Engaged in the wholesale and retail of jewellery
items, pearls and precious stones, as well as crystal
products and giftware.
Import
Countries: Europe and Asia
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
16,200,000 UAE Dh
18,750,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures were confirmed by Mr Masoud Abbas Javaherian, Managing Director.
BANKERS
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Emirates Bank
International Ltd
Beniyas Road
Deira
PO Box : 2923
Dubai
Tel : (971-4) 2256256 / 2256900
Fax : (971-4) 2268005 / 2267718
PAYMENT HISTORY
No complaints regarding
subject’s payments have been reported.
GENERAL COMMENTS
During the course
of this investigation nothing detrimental was uncovered regarding the manner in
which payment obligations are fulfilled. The operating history is clear and the
financial situation is satisfactory. As such we are of the opinion that the
subject is a fair trade risk.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.79 |
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UK Pound |
1 |
Rs.85.04 |
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Euro |
1 |
Rs.67.39 |
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%)